Ameriprise Financial, Inc. Is an American financial company that provides insurance, asset management, and private wealth management services. From 1984 to 2005, it was part of American Express. In 2015, the company was ranked 34th among the largest investment companies in the world in terms of assets under management ($ 629 billion).
Ameriprise Financial was formed in 2005 as a result of the separation of financial services subsidiary American Express into a separate company. The oldest predecessor, Investors Syndicate, was founded by John Tappan in 1894. In 1925, this syndicate of investors merged with the J. R. Ridgway, Sr. Investment Company. In 1949, Investors Syndicate was renamed Investors Diversified Services in connection with the expansion of the range of services, in particular, since 1937 the company began to engage in mortgage lending. The company serves 30.9 million clients, occupying 4.7% of the insurance market. The main activity is life insurance, as well as health and accident insurance; insurance premiums accounted for 122 billion out of 152 billion in revenue in 2018.
The main region of activity is the USA, it accounts for 91% of assets and 94% of turnover. The company is also present in the UK and some other European countries (Austria, Switzerland, Luxembourg) and Asia (Hong Kong, Singapore, Malaysia, UAE). The size of assets under management is $ 629.6 billion, the size of assets under administration is $ 157.8 billion as of December 31, 2016. In the structure of the company’s revenue in 2016, the main part came from payments for services rendered ($ 7.5 billion), another $ 1.5 billion was brought by insurance premiums and investment income.
The main divisions of the company:
Advice & Wealth Management — financial advice and private wealth management; turnover in 2016 amounted to $ 5 billion, assets — $ 12.7 billion
Asset Management — asset management; turnover amounted to $ 3.3 billion, assets — $ 7.3 billion
Annuities — annuity; turnover amounted to $ 2.5 billion, assets — $ 93.5 billion
Protection — insurance (life, property, disability); turnover amounted to $ 2.4 billion, assets — $ 22.1 billion.
The company provides trust management to institutional clients through a subsidiary of Columbia Management with assets of $ 350 billion (of which $ 200 billion is in shares).
Official site: http://www.ameriprise.com/