MINNEAPOLIS--(BUSINESS WIRE)--On Saturday, June 29, Ameriprise Financial, Inc. (NYSE: AMP) will celebrate its 130th anniversary. The firm, founded in Minneapolis in 1894, today operates in 18 countries globally, helping millions of highly satisfied clients, institutions, and small businesses confidently achieve their long-term financial goals. As a diversified financial services firm, Ameriprise and its more than 21,000 employees and financial advisors manage and administer more than $1.4 trillion in assetsi – while consistently earning top marks for client trust and satisfactionii, innovationiii and employee engagement.iv
Ameriprise has stood by its mission to help clients feel confident about their financial future, executing a consistent growth strategy, providing advice based on client goals, and expertly serving needs across approximately 6.4 million accounts. The firm’s market capitalization has grown from $8.8 billion since its spinoff from American Express in 2005 to more than $43 billionv.
“Our 130-year anniversary is a time to reflect on the longstanding legacy of Ameriprise, our exceptionally talented global team, and the generations of clients who have entrusted us with their financial futures,” said Jim Cracchiolo, Chairman and Chief Executive Officer. “As the world has changed, we have continually invested in and transformed our business – always staying true to our mission and our values: clients first, excellence, integrity, and respect. As we look forward, we have an incredible opportunity to build on our outstanding foundation – guided by the ingenuity and culture of care that have set Ameriprise apart for the last 130 years.”
Thriving for 130 years
Founded as Investors Syndicate in 1894, the company began with 1,000 individual Americans investing $5 each to help secure and achieve their dreams and aspirations. Investors Syndicate changed its name to Investors Diversified Services (IDS) in 1949, and to American Express Financial Advisors in 1984 when it was acquired by American Express. In 2005, under Cracchiolo’s leadership, the firm successfully completed one of the largest spinoffs in U.S. history, debuting as a new public company, Ameriprise Financial.
Ameriprise has stood by clients through good times and bad – never a day late or a penny short. In the 1930s, when many companies collapsed under the weight of the Great Depression, the firm paid out to certificate owners every dollar owed. In fact, the company’s original certificate business from 1894 still operates today.
During the financial crisis of 2008, Ameriprise was well-positioned to help clients navigate uncertainty while keeping the company strong. Unlike many competitors, Ameriprise respectfully declined the U.S. government’s offer of financial assistance to weather the Great Recession, in part due to its strong balance sheet and risk management strategy. When the unaffiliated Reserve Fund “broke the buck” and froze assets, Ameriprise advanced $700 million of its own capital to clients to help them meet cash needs.
A financial services powerhouse
Through market cycles, geopolitical events, and pandemics, the company has consistently delivered for its stakeholders. Today, Ameriprise stands tall in the industry and holds the #1 position in total shareholder return in the S&P 500 Financials Index since its spinoff in 2005.vi
Under Cracchiolo’s leadership, Ameriprise continues to grow across wealth management, global asset management, as well as retirement and protection. Ameriprise is investing in its capabilities, solutions, and people while driving innovation, executing with excellence, and managing the business prudently. Its success is underpinned by a world-class balance sheet and capital position, risk management, industry-leading technology, and exceptional employee engagement.
A commitment to strengthening communities
Since becoming a public company in 2005, the firm, along with its employees and advisors, has donated more than $200 million through corporate grants, individual donations, and gift matching to nonprofits globally. In its 15-year partnership with Feeding America, Ameriprise has donated more than 125 million meals to people in need – and, in honor of its 130-year anniversary, the company has a goal of exceeding 130 million by the end of 2024. Ameriprise will also provide special grants to Feeding America and Global FoodBanking Network totaling $130,000.
For more information, visit the Our History page on ameriprise.com, contact an advisor in your community to learn more about their practice, or review the company’s Responsible Business page.
About Ameriprise Financial
At Ameriprise Financial, we have been helping people feel more confident about their financial future for 130 years. With extensive investment advice, global asset management capabilities and insurance solutions, and a nationwide network of more than 10,000 financial advisors, we have the strength and expertise to serve the full range of individual and institutional investors' financial needs.
Ameriprise Financial cannot guarantee future financial results.
Ameriprise Financial Services, LLC is an Equal Opportunity Employer.
Investment products are not insured by the FDIC, NCUA or any federal agency, are not deposits or obligations of, or guaranteed by any financial institution, and involve investment risks including possible loss of principal and fluctuation in value.
Investment advisory products and services are made available through Ameriprise Financial Services, LLC, a registered investment adviser.
Securities offered by Ameriprise Financial Services, LLC. Member FINRA and SIPC.
© 2024 Ameriprise Financial, Inc. All rights reserved.
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i Ameriprise Financial Q1 2024 earnings AMP Q1 2024 Earnings Release (q4cdn.com).
ii Ameriprise created the Client Experience Survey to give clients an opportunity to rate their satisfaction with a financial advisor or practice using a scale of 1 to 5. Each client has an opportunity to access the Ameriprise Secure Client Site and provide a rating. The client satisfaction score is an average of all client responses for that advisor or practice within a rolling 24-month period as of 12/31/2023. There is no minimum number of responses required for an advisor or practice to receive a rating and advisors or practices may have received unfavorable ratings. Client experiences may vary, and working with any Ameriprise financial advisor or practice is not a guarantee of future financial results. Investors should not consider the Client Experience Survey score a substitute for their own research and evaluation of a financial advisor’s or practice’s qualifications.
iii American Innovation Index: Fordham University partnered with the Norwegian School of Economics and Rockbridge Associates, a part of Illuminas, to survey 7,383 U.S. adult customers across 200 brands and 20 industries from 7/11/2023 to 7/23/2023. Multiple indexes were developed from the survey results. The American Innovation Index measures customers’ perception of a brand as innovative, creative, pioneering and changing the marketplace. Ameriprise scored highest among six financial institutions in this index and 38th out of the 200 companies included. The Social Innovation Index measures customers’ perception of a brand as innovating on behalf of society and the environment. Ameriprise scored the highest among six financial institutions in this index and 11th out of the 200 companies included. Ameriprise did not pay a fee to be evaluated for this rating or publicly cite the results.
iv Newsweek and Plant-A Insights Group recognized America’s Greatest Workplaces across 78 industries. They conducted confidential, online surveys from 2022-2023 among approximately 142,000 women working for U.S. companies that employed >500 people in 2023 and >1,000 people in 2022. Respondents rated current or familiar employers on their overall likelihood to recommend; and their current employer on eight employee satisfaction drivers. Companies' final scores were based on performance in survey recommendations, driver categories, additional research on publicly available metrics and media monitoring. The final list recognized the 1,000 companies with the highest scores. Ameriprise did not pay a fee to be evaluate for this recognition but did pay a fee to Plant-A to publicly cite the results of the survey. For more information, visit www.newsweek.com/rankings/americas-greatest-workplaces-women-2024.
v Bloomberg, June 20, 2024
vi Source: Bloomberg. Ranking calculated based on members of the S&P 500 Financials Index as of Sept. 30, 2005 that are still members as of May 31, 2024.
