MINNEAPOLIS--(BUSINESS WIRE)--On June 29, Ameriprise Financial, Inc. (NYSE: AMP) will recognize its 125th anniversary, marking a significant milestone in its history as a leading wealth and asset manager. Since its founding in 1894, Ameriprise has helped millions of people, institutions and small businesses meet their long-term financial goals and retire with confidence. Having become a global financial leader, the company and its more than 21,000 financial advisors and employees in 19 countries are committed to putting clients’ needs first. Today, Ameriprise has nearly $900 billion in assets under management and administration1 and ranks #249 on the Fortune 500 list – all while earning top scores for trust, customer loyalty and customer service2.
“Our 125-year anniversary presents an opportunity to reflect on the proud history of our company,” said Jim Cracchiolo, chairman and chief executive officer. “Over the decades, we have remained true to our founding principles to deliver value, while always evolving and innovating. We’ve kept the company strong while continuously investing through market cycles with our clients and advisors at the forefront of our decisions and actions. We look ahead with optimism about our future, and how we’ll help clients achieve their most important goals for many years to come.”
Growing into one of the strongest financial services companies
Founded as Investors Syndicate in 1894, the company began with a vision to help everyday Americans achieve their financial goals. In addition to its days as Investors Syndicate, the company has been known as the brands Investors Diversified Services (IDS) and American Express Financial Advisors. In 2005, under the leadership of Cracchiolo, the firm successfully completed one of the largest spin-offs in U.S. history, debuting the new public company, Ameriprise Financial.
Throughout its history, the company has executed several important acquisitions including Threadneedle Investments, Columbia Management, J.&W. Seligman and H&R Block Financial Advisors to add to its capabilities and serve an even broader mix of individual, small business and institutional clients.
A legacy of integrity and resolve
At the heart of the company’s success is its strong financial foundation and its commitment to standing behind clients through good times and bad.
- During the Great Depression of 1929-1939, Ameriprise paid out every dollar owed on its due date – a total of $101 million to certificate holders.
- Fast forward to the Great Recession of 2008, and the company demonstrated its financial strength by respectfully declining the U.S. government’s offer of assistance – maintaining its record of never taking a bailout.
- And when the Reserve Fund “broke the buck” in one of its money market funds and froze assets, the company responded by advancing its clients approximately $700 million to help them meet immediate cash needs during a period of extreme market volatility.
These were critical moments that helped define the company’s culture and demonstrate its commitment to clients and advisors. Today, Ameriprise serves over 2 million individuals, institutions and small businesses. The firm’s market capitalization has grown from $8.8 billion since its spinoff in 2005 to approximately $20 billion3 by focusing its energy on clients, their goals and opportunities for growth.
A commitment to community
Ameriprise has long fostered a culture of service and volunteerism. Since 2005, the firm, along with its employees and advisors, has donated more than $100 million through corporate grants and gift matching to a diverse group of more than 7,500 nonprofit organizations across the U.S., U.K. and other markets. The company’s long-standing partnership with Feeding America has provided 85 million meals to families in need. In addition, the firm’s employees and advisors have a deep commitment to volunteerism. In the last year alone, they dedicated more than 78,000 hours of their time volunteering at nonprofits they care about. Earlier this month, the company continued this legacy of giving back with more than 3,500 employees, advisors and clients coming together to provide food and other necessities for families and individuals in need.
About Ameriprise Financial
At Ameriprise Financial, we have been helping people feel confident about their financial future for more than 125 years. With extensive asset management, advisory and insurance capabilities and a nationwide network of approximately 10,000 financial advisors, we have the strength and expertise to serve the full range of individual and institutional investors’ financial needs. For more information, or to find an Ameriprise financial advisor, visit ameriprise.com.
1Ameriprise manages $891 billion in assets under management and administration (as reported in the company’s Q1 2019 earnings release.)
2Ratings based on responses to a consumer survey as part of the 2018 Temkin Trust Ratings, 2017 Temkin Loyalty Index and 2017 Temkin Customer Service Ratings. See www.temkingratings.com and www.temkingroup.com for more.
3Market Cap as of June 18, 2019
Ameriprise Financial Services, Inc. Member FINRA and SIPC.
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