Ameriprise Financial
Encyclopedia
Ameriprise Financial, Inc. is one of the leading diversified financial services companies in the U.S. Ameriprise Financial engages in business through its
subsidiaries who provide a wide range of financial planning, products and services designed to be utilized as solutions for its clients’ cash and liquidity, asset accumulation, income, protection, and estate and wealth transfer needs, including wealth management
, asset management, insurance
, annuities
and estate planning
.
Ameriprise Financial, Inc., the holding company
is incorporated in Delaware. The company's headquarters
are in Minneapolis
, Minnesota
. James Cracchiolo
is the chairman and chief executive officer
. The company's primary subsidiaries include Ameriprise Financial Services, Inc., Columbia Management Investment Advisers, LLC, and RiverSource
Life Insurance Company. Threadneedle Asset Management is Ameriprise's international asset manager and an award-winning provider of investment solutions to institutional and retail clients across the globe.
. Ameriprise Financial specializes in meeting the retirement
-related financial needs of the mass affluent
. It has a three-million-strong client base with more financial planning clients than any other firm, and $672.7 billion in owned, managed and administered assets worldwide. It also operates Ameriprise Bank, FSB which offers a variety of consumer banking and lending products and personal trust and related services.
Ameriprise Financial Services, Inc., a financial planning and retail distribution subsidiary which operates under the Ameriprise Financial brand name, is a registered broker-dealer and registered investment adviser. It offers comprehensive and personalized financial planning as well as the opportunity to build a long-term relationship with a knowledgeable financial advisor. It has an integrated model of financial planning, diversified product manufacturing and affiliated and unaffiliated distribution through its over 11,400 financial advisors and registered representatives. This is one of the largest advisor forces in the U.S. The company has 10,472 employees, including 2,168 employee branded advisors.
On April 25, 2011, Ameriprise announced that it is trying to find an "appropriate buyer" for the Securities America. Ameriprise said that this move will “allow SA to focus on growth opportunities in the independent channel and would allow Ameriprise to devote its resources to the Ameriprise-branded advisor business.”
-based holding company for the Threadneedle group of companies and a wholly owned independent subsidiary of Ameriprise Financial which provides investment management
products and services to clients in the United Kingdom, Europe, the Middle East and the Asia-Pacific region. Though acquired by Ameriprise Financial in 2003, Threadneedle operates as an independent international asset manager, under its own brand name, management organization and operating, compliance and technology infrastructure. Threadneedle primarily provides international investment products and services, and Ameriprise Financial, through an arrangement with Threadneedle, offers certain international and U.S. equity strategies to its U.S. clients.
In 2008, Threadneedle acquired Invesco Perpetual's full service defined contribution pension business with total assets of £470m, followed by acquisition of Standard Chartered Bank’s World Express Funds investment funds business in 2009, the latter providing Threadneedle with an established Luxembourg-based SICAV platform with over US$2.38 billion worth assets under management as at April 30, 2009. In August 2011 it was announced that Threadneedle would acquire the investment assets of LV=
amounting to some £8 billion.
At December 31, 2010, Threadneedle had $105.6 billion in managed assets worldwide, and was expanding distribution of its institutional products in Europe, Asia, U.S., Middle East and Australia.
Many Ameriprise advisors are Certified Financial Planner
s, and the company actively encourages attaining this designation. Many advisors also hold similar designations such as the CLU or ChFC.
Ameriprise Financial and its advisors receive commissions when they sell their clients mutual funds, annuities, insurance
, and various other investment products
. Financial planning services and investment products purchased through 'managed accounts' are not assessed a commission but rather are fee-based.
subsidiaries who provide a wide range of financial planning, products and services designed to be utilized as solutions for its clients’ cash and liquidity, asset accumulation, income, protection, and estate and wealth transfer needs, including wealth management
Wealth management
Wealth management is an investment advisory discipline that incorporates financial planning, investment portfolio management and a number of aggregated financial services...
, asset management, insurance
Insurance
In law and economics, insurance is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment. An insurer is a company selling the...
, annuities
Annuity (US financial products)
In the United States an annuity contract is created when an insured party, usually an individual, pays a life insurance company a single premium that will later be distributed back to the insured party over time...
and estate planning
Estate planning
Estate planning is the process of anticipating and arranging for the disposal of an estate. Estate planning typically attempts to eliminate uncertainties over the administration of a probate and maximize the value of the estate by reducing taxes and other expenses...
.
Ameriprise Financial, Inc., the holding company
Holding company
A holding company is a company or firm that owns other companies' outstanding stock. It usually refers to a company which does not produce goods or services itself; rather, its purpose is to own shares of other companies. Holding companies allow the reduction of risk for the owners and can allow...
is incorporated in Delaware. The company's headquarters
Headquarters
Headquarters denotes the location where most, if not all, of the important functions of an organization are coordinated. In the United States, the corporate headquarters represents the entity at the center or the top of a corporation taking full responsibility managing all business activities...
are in Minneapolis
Minneapolis, Minnesota
Minneapolis , nicknamed "City of Lakes" and the "Mill City," is the county seat of Hennepin County, the largest city in the U.S. state of Minnesota, and the 48th largest in the United States...
, Minnesota
Minnesota
Minnesota is a U.S. state located in the Midwestern United States. The twelfth largest state of the U.S., it is the twenty-first most populous, with 5.3 million residents. Minnesota was carved out of the eastern half of the Minnesota Territory and admitted to the Union as the thirty-second state...
. James Cracchiolo
James Cracchiolo
James "Jim" Cracchiolo is Chairman and Chief Executive Officer of Ameriprise Financial, Inc., a leading diversified financial services company serving the comprehensive financial planning needs of the mass affluent and affluent. He has held these positions since September 2005, when the company...
is the chairman and chief executive officer
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
. The company's primary subsidiaries include Ameriprise Financial Services, Inc., Columbia Management Investment Advisers, LLC, and RiverSource
RiverSource
RiverSource is a subsidiary of Ameriprise Financial, Inc. RiverSource is made up of RiverSource Investments, RiverSource Annuities, and RiverSource Insurance....
Life Insurance Company. Threadneedle Asset Management is Ameriprise's international asset manager and an award-winning provider of investment solutions to institutional and retail clients across the globe.
Spin-off from American Express
Ameriprise Financial is the successor to American Express Financial Advisors (AEFA), a former subsidiary of the American Express Company. In 2005, American Express spun off AEFA as an independent company. Its new name came into effect August 1, 2005, and the transaction closed on September 30, 2005.Timeline
Ameriprise Financial began life as Investors Syndicate in 1894. Here are a few of the company's key milestones:- 1894 - John Tappan founds Investors Syndicate
- 1937 - Company assets reach $100 million
- 1940 - Investors Syndicate introduces one of the first mutual funds, the Investors Mutual Fund, giving clients new investing options and two advantages: diversification and professional management. By the 1960s, Investors Mutual Fund is the largest balanced mutual fund in the world.
- 1949 - Investors Syndicate changes its name to Investors Diversified Services, Inc. (IDS)
- 1958 - IDS founds the Investors Syndicate Life Insurance and Annuity Company (now known as RiverSourceRiverSourceRiverSource is a subsidiary of Ameriprise Financial, Inc. RiverSource is made up of RiverSource Investments, RiverSource Annuities, and RiverSource Insurance....
Life Insurance Company) - 1974 - the IDS Centre (now IDS CenterIDS CenterThe IDS Center is the tallest building in the state of Minnesota at 792 feet . Opened in 1974 as the IDS Centre, it stood 775 feet 6 inches , though a 16-foot garage for window washing equipment was added at a later date...
) is opened in downtown Minneapolis, MinnesotaMinneapolis, MinnesotaMinneapolis , nicknamed "City of Lakes" and the "Mill City," is the county seat of Hennepin County, the largest city in the U.S. state of Minnesota, and the 48th largest in the United States...
as the company's headquarters - 1979 - IDS became a wholly owned subsidiary of Alleghany Corporation pursuant to a merger
- 1984 - American ExpressAmerican ExpressAmerican Express Company or AmEx, is an American multinational financial services corporation headquartered in Three World Financial Center, Manhattan, New York City, New York, United States. Founded in 1850, it is one of the 30 components of the Dow Jones Industrial Average. The company is best...
completes acquisition of IDS Financial Services from Alleghany Corporation; company renamed as American Express Financial Corporation (AEFC) - 1986 - IDS acquires Wisconsin Employers Casualty Company of Green Bay and renames it IDS Property Casualty Insurance Company
- 1994 - IDS reaches $100 billion in assets and conducts business under the American Express brand
- 2003 - American Express Financial Corporation acquires London-based Threadneedle Asset Management Holdings
- 2005 - American Express Financial Advisors spins off and becomes an independent company named Ameriprise Financial, Inc.; begins trading on the NYSE under the ticker symbol AMP
- 2006 - Ameriprise launches Ameriprise Bank, FSB
- 2007 - Ameriprise debutes at 297 on the FORTUNE 500 list
- 2008 - Ameriprise acquires H&R BlockH&R BlockH&R Block is a tax preparation company in the United States, claiming more than 22 million customers worldwide, with offices in Canada, Australia and the United Kingdom. The Kansas City-based company also offers banking, personal finance and business consulting services.Founded in 1955 by brothers...
Financial Advisors for $315 million, and the asset management firm J. & W. Seligman & Co.J. & W. Seligman & Co.J. & W. Seligman & Co., founded in 1846, was a prominent U.S. investment bank c. 1860s–1920s until the divestiture of its investment banking arm in the aftermath of the Glass–Steagall Act. The firm was involved in the financing of several major U.S. railroads in the 1870s and the construction of...
for $400 Million; declines U.S. Government financial assistance - 2009 - Ameriprise acquires long-term asset management business of Columbia Management for $1.2 billion from Bank of AmericaBank of AmericaBank of America Corporation, an American multinational banking and financial services corporation, is the second largest bank holding company in the United States by assets, and the fourth largest bank in the U.S. by market capitalization. The bank is headquartered in Charlotte, North Carolina...
- 2010 - Ameriprise Financial completes 116 years of existence and its fifth anniversary as an independent public company
Business
Ameriprise Financial is the largest financial planning company in the United States and is among the 25 largest asset managers in the world. It is ranked 246 in the 2011 Fortune 500Fortune 500
The Fortune 500 is an annual list compiled and published by Fortune magazine that ranks the top 500 U.S. closely held and public corporations as ranked by their gross revenue after adjustments made by Fortune to exclude the impact of excise taxes companies collect. The list includes publicly and...
. Ameriprise Financial specializes in meeting the retirement
Retirement
Retirement is the point where a person stops employment completely. A person may also semi-retire by reducing work hours.Many people choose to retire when they are eligible for private or public pension benefits, although some are forced to retire when physical conditions don't allow the person to...
-related financial needs of the mass affluent
Mass affluent
Mass affluent and emerging affluent are marketing terms used to refer to the high end of the mass market. It is most commonly used by the financial services industry to refer to individuals with US$100,000 to US$1,000,000 of liquid financial assets, although the exact definition varies...
. It has a three-million-strong client base with more financial planning clients than any other firm, and $672.7 billion in owned, managed and administered assets worldwide. It also operates Ameriprise Bank, FSB which offers a variety of consumer banking and lending products and personal trust and related services.
Principal Brands
The company uses three principal brands for its businesses in the United States: Ameriprise Financial, Columbia Management and RiverSource. The Threadneedle brand is used for its international asset manager’s products.Ameriprise Financial Services, Inc., a financial planning and retail distribution subsidiary which operates under the Ameriprise Financial brand name, is a registered broker-dealer and registered investment adviser. It offers comprehensive and personalized financial planning as well as the opportunity to build a long-term relationship with a knowledgeable financial advisor. It has an integrated model of financial planning, diversified product manufacturing and affiliated and unaffiliated distribution through its over 11,400 financial advisors and registered representatives. This is one of the largest advisor forces in the U.S. The company has 10,472 employees, including 2,168 employee branded advisors.
Securities America
Securities America Financial Corporation’s roots go back to Financial Dynamics, an insurance marketing organization founded in 1984 by Steve Wild that had between 10,000 and 12,000 independent insurance agents affiliated with the firm. Financial Dynamics created Securities America, an independent securities broker/dealer, to use its insurance sales force to offer investments. In 1998, Securities America was acquired by American Express. In October 2005, after American Express spun off its financial services unit as Ameriprise, Securities America became a wholly owned subsidiary of Ameriprise. Under Ameriprise, Securities America continued to operate independently as a Nebraska-based broker/dealer, which serves independent financial advisers across the country. Securities America acquired Brecek & Young Advisors, a California-based broker/dealer, and its subsidiary, Iron Point Capital Management, from Security Benefit Corp. of Topeka, Kansas.On April 25, 2011, Ameriprise announced that it is trying to find an "appropriate buyer" for the Securities America. Ameriprise said that this move will “allow SA to focus on growth opportunities in the independent channel and would allow Ameriprise to devote its resources to the Ameriprise-branded advisor business.”
Threadneedle Asset Management Holdings
Threadneedle Asset Management Holdings SARL is a LuxembourgLuxembourg
Luxembourg , officially the Grand Duchy of Luxembourg , is a landlocked country in western Europe, bordered by Belgium, France, and Germany. It has two principal regions: the Oesling in the North as part of the Ardennes massif, and the Gutland in the south...
-based holding company for the Threadneedle group of companies and a wholly owned independent subsidiary of Ameriprise Financial which provides investment management
Investment management
Investment management is the professional management of various securities and assets in order to meet specified investment goals for the benefit of the investors...
products and services to clients in the United Kingdom, Europe, the Middle East and the Asia-Pacific region. Though acquired by Ameriprise Financial in 2003, Threadneedle operates as an independent international asset manager, under its own brand name, management organization and operating, compliance and technology infrastructure. Threadneedle primarily provides international investment products and services, and Ameriprise Financial, through an arrangement with Threadneedle, offers certain international and U.S. equity strategies to its U.S. clients.
In 2008, Threadneedle acquired Invesco Perpetual's full service defined contribution pension business with total assets of £470m, followed by acquisition of Standard Chartered Bank’s World Express Funds investment funds business in 2009, the latter providing Threadneedle with an established Luxembourg-based SICAV platform with over US$2.38 billion worth assets under management as at April 30, 2009. In August 2011 it was announced that Threadneedle would acquire the investment assets of LV=
LV=
LV is the UK's largest friendly society with approximately 1.1 million members.-History and legal constitution:...
amounting to some £8 billion.
At December 31, 2010, Threadneedle had $105.6 billion in managed assets worldwide, and was expanding distribution of its institutional products in Europe, Asia, U.S., Middle East and Australia.
Locations
- Ameriprise Financial's headquarters is located at 55 Ameriprise Financial Center, Minneapolis, MinnesotaMinnesotaMinnesota is a U.S. state located in the Midwestern United States. The twelfth largest state of the U.S., it is the twenty-first most populous, with 5.3 million residents. Minnesota was carved out of the eastern half of the Minnesota Territory and admitted to the Union as the thirty-second state...
55474. - It maintains executive offices at 7 World Trade Center, New York, New YorkNew YorkNew York is a state in the Northeastern region of the United States. It is the nation's third most populous state. New York is bordered by New Jersey and Pennsylvania to the south, and by Connecticut, Massachusetts and Vermont to the east...
10007. - Its employee and franchised financial advisor branch offices are located throughout the United States.
- Ameriprise Financial also has employees in BangaloreBangaloreBengaluru , formerly called Bengaluru is the capital of the Indian state of Karnataka. Bangalore is nicknamed the Garden City and was once called a pensioner's paradise. Located on the Deccan Plateau in the south-eastern part of Karnataka, Bangalore is India's third most populous city and...
and GurgaonGurgaonGurgaon is the second largest city in the Indian state of Haryana. Gurgaon is the industrial and financial center of Haryana. It is located 30 km south of national capital New Delhi, about 10 kilometers from Dwarka Sub City and 268 km south of Chandigarh, the state capital...
(Ameriprise India), IndiaIndiaIndia , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
, and LondonLondonLondon is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
(Threadneedle).
Ameriprise advisors
Ameriprise has more than 9,600 branded advisors who recommend actions and a broad range of product solutions consisting of investment, annuity, insurance, banking and other financial products to clients based on an appropriate range and level of risk. The financial advisors charge clients for financial advice and selling products. There are four ways Ameriprise financial advisors can affiliate with Ameriprise Financial, Inc.- Approximately 60% of Ameriprise's financial advisors are independent contractorIndependent contractorAn independent contractor is a natural person, business, or corporation that provides goods or services to another entity under terms specified in a contract or within a verbal agreement. Unlike an employee, an independent contractor does not work regularly for an employer but works as and when...
franchiseesFranchisingFranchising is the practice of using another firm's successful business model. The word 'franchise' is of anglo-French derivation - from franc- meaning free, and is used both as a noun and as a verb....
— they are not employed by Ameriprise, but are licensed registered representatives of Ameriprise and do not receive a salary from the parent company. - About one quarter of financial advisors are employed by Ameriprise ("employee financial advisors"). Ameriprise Financial Services, Inc. has the largest number of these professionals among any retail advisory force. The majority of the employee advisors work in local offices like their franchisee counterparts.
- Over 120 of the employee advisors work within the corporate office in Minneapolis as part of the Ameriprise Advisor Center (AAC). These Advisors are fully licensed Securities and Insurance professionals that have received additional training which allows them to assist clients exclusively by telephone. They are required to hold the Series 7Series 7Series 7 may refer to:*The 7th season of any of many shows or series. See .*The General Securities Representative Exam, commonly referred to as the Series 7 Exam. It is the most comprehensive financial securities exam offered by the FINRA...
and Series 63 Financial Industry Regulatory AuthorityFinancial Industry Regulatory AuthorityIn the United States, the Financial Industry Regulatory Authority, Inc., or FINRA, is a private corporation that acts as a self-regulatory organization . FINRA is the successor to the National Association of Securities Dealers, Inc. ...
(FINRA) licenses, along with insurance licenses in all states they serve, and are encouraged to acquire their Chartered Retirement Planning Counselor (CRPC) professional designation from the College of Financial Planning, and are reimbursed for the cost. - The company also has associate Financial Advisors, employed by the independent contractor franchisees.
Many Ameriprise advisors are Certified Financial Planner
Certified Financial Planner
The Certified Financial Planner designation is a professional certification mark for financial planners conferred by the Certified Financial Planner Board of Standards, Inc...
s, and the company actively encourages attaining this designation. Many advisors also hold similar designations such as the CLU or ChFC.
Fee structure
Ameriprise Financial may charge clients a flat annual fee for an on-going planning relationship. This fee varies based on advisor experience, certifications, and the complexity of the given client's service needs.Ameriprise Financial and its advisors receive commissions when they sell their clients mutual funds, annuities, insurance
Insurance
In law and economics, insurance is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment. An insurer is a company selling the...
, and various other investment products
Investment
Investment has different meanings in finance and economics. Finance investment is putting money into something with the expectation of gain, that upon thorough analysis, has a high degree of security for the principal amount, as well as security of return, within an expected period of time...
. Financial planning services and investment products purchased through 'managed accounts' are not assessed a commission but rather are fee-based.
Awards & recognition
Financial industry and media experts have recognized Ameriprise Financial for its growth, innovative financial solutions and unique approach to financial planning. A few awards and recognition received by Ameriprise Financial are as follows:- In its 13th annual Top 500 list of American companies that have generated "the most revenue growth and cash returns" released in May 2011, Barron's listed Ameriprise at #29.
- Seven Columbia Management funds received 2011 Lipper Fund Awards as top-performing mutual funds in their respective Lipper categories.
- Ameriprise Financial ranked #1 on Financial Advisor Magazine 2009 Broker-Dealer Ranking (by Gross Revenue)
- Ameriprise Financial ranked fifth in overall client satisfaction in a 2009 J.D. Power & Associates survey of full-service financial advisory firms.
- In a 2009 national survey, BusinessWeekBusinessWeekBloomberg Businessweek, commonly and formerly known as BusinessWeek, is a weekly business magazine published by Bloomberg L.P. It is currently headquartered in New York City.- History :...
ranked Ameriprise Financial as the 67th best place to launch a career. - 2008 Lavender Pride Award by Lavender Magazine.
- 2008 Jefferson Award for outstanding public and community service
Criticism & controversy
- Securities America, a subsidiary of Ameriprise Financial, was fined $5.4 million in 2003 for letting a broker work under a false name in its Orlando office and allegedly make bogus investments. In 2005, Ameriprise agreed to pay a $12.3 million to settle NASD charges relating to favorable treatment allegedly given to some mutual funds in exchange for brokerage business.
- In mid-2005, the State of New HampshireNew HampshireNew Hampshire is a state in the New England region of the northeastern United States of America. The state was named after the southern English county of Hampshire. It is bordered by Massachusetts to the south, Vermont to the west, Maine and the Atlantic Ocean to the east, and the Canadian...
reached a $7.4 million settlement with American Express Financial Advisors, alleging the company had violated the law by rewarding their financial advisers for recommending underperforming in-house mutual funds to clients.
- Also in 2005, Ameriprise Financial entered into a $15 million settlement with the SEC for charges of market timingMarket timingMarket timing is the strategy of making buy or sell decisions of financial assets by attempting to predict future market price movements. The prediction may be based on an outlook of market or economic conditions resulting from technical or fundamental analysis...
. The Minnesota Department of Commerce levied $2 million in fines for similar market timing violations. The National Association of Securities Dealers fined Ameriprise an additional $12.3 million for unsuitable share sales. Ameriprise, having become a separate company, had not revealed which funds were timed, or the names of the people involved and the exact nature of the disciplinary action taken. MorningstarMorningstar, Inc.Morningstar, Inc. is an independent investment research company based in Chicago, Illinois, USA.-Businesses:Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offers an extensive line of products and services for...
temporarily reduced the stewardship grade for Ameriprise's funds, although it did not impact the fund's overall star ratings from that firm.
- In 2006, the NASD threatened to suspend the company for failing to pay an arbitration award to a former broker.
- In September, 2006, Securities America reached a $16.3 million settlement with a group of Exxon Mobil Corp. retirees for failing to supervise an associated broker.
- On July 11, 2007, the NASD fined Securities America $375,000 for improperly sharing directed brokerage commissions from a mutual fund company with a former Securities America broker. Another NASD arbitration panel awarded $9.3 million to three retired American AirlinesAmerican AirlinesAmerican Airlines, Inc. is the world's fourth-largest airline in passenger miles transported and operating revenues. American Airlines is a subsidiary of the AMR Corporation and is headquartered in Fort Worth, Texas adjacent to its largest hub at Dallas/Fort Worth International Airport...
pilots against Securities America and a formerly associated broker for allegedly mishandling their savings. Other airline pilots have arbitration claims pending.
- On July 10, 2009, the Securities and Exchange Commission (SEC) announced an enforcement action against Ameriprise for receiving millions of dollars in undisclosed revenue sharing as a condition for selling certain real estate investment trusts (REITs) to its brokerage customers. Ameriprise agreed to pay $17.3 million to settle the SEC's charges, however the period in which SEC states the violations took place were prior to the spinoff from American Express.
- On April 15, 2011, Securities America, Inc. (SAI) and its holding company, Securities America Financial Corporation, entered into settlement agreements related to the sale of private placement securities issued by Medical Capital and Provident Royalties that resulted in a $118 million pre-tax charge in the first quarter of 2011. The charge is in addition to a $40 million pre-tax charge in the fourth quarter of 2010.
Competitors
- New York Life Insurance Co.
- John Hancock Financial Services
- Edward Jones InvestmentsEdward Jones InvestmentsEdward D. Jones & Co., L.P., since 1995 simplified as Edward Jones is a financial services firm headquartered in Des Peres, Missouri which serves investment clients in the United States and Canada, through its branch network of more than 12,000 locations. The firm focuses solely on individual...
- T. Rowe PriceT. Rowe PriceT. Rowe Price is a publicly owned Investment firm, headquartered in Baltimore, Maryland. It was founded in 1937 by Thomas Rowe Price, Jr.. The company offers mutual funds, subadvisory services, and separate account management for individuals, institutions, retirement plans, and financial...
- The Charles Schwab Corporation
- Merrill LynchMerrill LynchMerrill Lynch is the wealth management division of Bank of America. With over 15,000 financial advisors and $2.2 trillion in client assets it is the world's largest brokerage. Formerly known as Merrill Lynch & Co., Inc., prior to 2009 the firm was publicly owned and traded on the New York...
- Morgan StanleyMorgan StanleyMorgan Stanley is a global financial services firm headquartered in New York City serving a diversified group of corporations, governments, financial institutions, and individuals. Morgan Stanley also operates in 36 countries around the world, with over 600 offices and a workforce of over 60,000....
- Linsco/Private Ledger (LPL)LPL FinancialLPL Financial is the largest organization of independent financial advisors in the United States. LPL Financial was formed in 1989 through the merger of two brokerage firms—Linsco and Private Ledger —and has since expanded its number of independent financial advisors from a few hundred to more...
- The Vanguard GroupThe Vanguard GroupThe Vanguard Group is an American investment management company based in Malvern, Pennsylvania, that manages approximately $1.6 trillion in assets. It offers mutual funds and other financial products and services to individual and institutional investors in the United States and abroad. Founder...
- American Century InvestmentsAmerican Century InvestmentsAmerican Century Investments is a privately-controlled and independent investment management firm that has focused on delivering superior investment performance and building client relationships for more than 50 years. Its headquarters are located at 4500 Main in Kansas City, Missouri, near the...
- E*TRADE
- ScottradeScottradeScottrade is a privately owned American discount retail brokerage firm headquartered in St. Louis, Missouri. Its Founder, President and CEO is Rodger O. Riney. Scottrade has 500 branch offices around the U.S...
- Fidelity InvestmentsFidelity InvestmentsFMR LLC or Fidelity Investments is an American multinational financial services corporation one of the largest mutual fund and financial services groups in the world. It was founded in 1946 and serves North American investors. Fidelity Ventures is its venture capital arm...
External links
- Ameriprise Financial - Official Site
- Ameriprise Investor Relations
- A small group of historical corporate records of IDS are available for research use at the Minnesota Historical Society.
- FINRA Brokercheck Page
- JD Power ranking of online brokers