In 2005 American Express spun-off its subsidiary American Express Financial Advisors (AEFA), its financial planning and asset management division.
The new company was named Ameriprise Financial; it began trading the same year on the New York Stock Exchange (NYSE) under the ticker symbol AMP.
In 2007 the company debuted on the Fortune 500 list for the first time.
In 2008 Ameriprise Financial acquired H&R Block Financial Advisors for $315 million and asset management firm J.W. Seligman & Co. for $400 million.
In 2009 the company acquired Columbia Management, a long-term asset management business, from Bank of America for $1.2 billion.
Today Ameriprise Financial has more than $680 billion in assets under management, which it manages through 10,000 financial advisors.
The company continues to trade on the NYSE, is a member S&P 500, is #288 in the Fortune 500, has 12,000 employees, and had $11.86 billion in revenue in 2013.
Ameriprise FinancialIn 2005 American Express spun-off its subsidiary American Express Financial Advisors (AEFA), its financial planning and asset management division.
The new company was named Ameriprise Financial; it began trading the same year on the New York Stock Exchange (NYSE) under the ticker symbol AMP.
In 2007 the company debuted on the Fortune 500 list for the first time.
History
In 2008 Ameriprise Financial acquired H&R Block Financial Advisors for $315 million and asset management firm J.W. Seligman & Co. for $400 million.
In 2009 the company acquired Columbia Management, a long-term asset management business, from Bank of America for $1.2 billion.
Today Ameriprise Financial has more than $680 billion in assets under management, which it manages through 10,000 financial advisors.
The company continues to trade on the NYSE, is a member S&P 500, is #288 in the Fortune 500, has 12,000 employees, and had $11.86 billion in revenue in 2013.