Profile: Ameriprise Financial Inc (AMP)
6 Dec 2016
Ameriprise Financial, Inc., incorporated on October 29, 1983, is a diversified financial services company that offers financial solutions to individual and institutional clients. The Company operates in five segments: Advice & Wealth Management; Asset Management; Annuities; Protection, and Corporate & Other. The Company uses Ameriprise Financial as its enterprise brand, as well as the name of its advisor network and certain of its retail products and services. The retail products and services that use the Ameriprise Financial brand include those that the Company provides through its advisors (financial planning investment advisory accounts and retail brokerage services) and products and services that the Company markets directly to consumers or through affinity groups (personal auto and home insurance). The Company uses its RiverSource brand for its annuity and protection products issued by the RiverSource Life companies, including its life and disability income insurance products. The Company's brand, Columbia Threadneedle Investments, has asset management capabilities.
Advice & Wealth Management segment
The Advice & Wealth Management segment provides financial planning and advice, as well as brokerage services, primarily to retail clients through advisors. The services are centered on long-term, personal relationships between advisors and clients, and focus on helping clients achieve their financial goals. The Company's advisors offer clients a diversified set of cash and liquidity, asset accumulation, income, protection, and estate and wealth transfer products and services, as well as a selection of products from other companies.
The Company offers brokerage and investment advisory services, such as individual and family financial services, brokerage and other products and services, fee-based investment advisory accounts, mutual fund offerings, insurance and annuities, banking products, face-amount certificates, financial wellness program, and Strategic Alliances and Other Marketing Arrangements. The Company offers retail and institutional clients a range of brokerage and other investment products and services. Its Ameriprise ONE Financial Account is a single integrated financial management brokerage account that enables clients to access a single cash account to fund a range of financial transactions, including investments in mutual funds, individual securities, cash products and margin lending. The Company provides securities execution and clearing services for its retail and institutional clients through its registered broker-dealer subsidiaries. The Company offers exchange traded mutual funds, over 529 plans, public non-exchange traded real estate investment trusts, structured notes, private equity and other alternative investments issued by unaffiliated companies. The Company also offers trading and portfolio strategy services across a number of fixed income categories, including treasuries, municipals, corporate, mortgage and asset-backed securities.
The Company offers both discretionary and non-discretionary investment advisory accounts. The Company offers several types of investment advisory accounts. It sponsors Ameriprise Strategic Portfolio Service (SPS) Advantage, a non-discretionary investment advisory account service, as well as SPS-Advisor, a discretionary investment advisory account service. The Company also sponsors Ameriprise Separate Accounts (a separately managed account (SMA) program), which is a discretionary investment advisory account service through which clients invest in strategies managed by the Company or by affiliated and non-affiliated investment managers. It also sponsors Active Portfolios investments, a discretionary mutual fund investment advisory account service that offers a number of target allocations based on different risk profiles and tax sensitivities. Additionally, it offers discretionary investment advisory account services through which clients may invest in SMAs, mutual funds and exchange traded funds. In addition to the Columbia Management family of funds, it offers mutual funds from approximately 300 mutual fund families representing over 3,500 mutual funds on its brokerage platform and as part of its investment advisory accounts to provide its clients a range of investment products.
The Company offers insurance and annuities issued by the RiverSource Life companies. The RiverSource insurance solutions available to its retail clients include variable and fixed universal life insurance, traditional life insurance and disability income insurance. RiverSource annuities include fixed annuities, as well as variable annuities that allow its clients to choose from a number of underlying investment options, including volatility management options, and to purchase certain guaranteed benefit riders. In addition to RiverSource insurance and annuity products, the Company's advisors offer products of unaffiliated carriers on a limited basis, including variable annuities, life insurance and long term care insurance products issued by a select number of unaffiliated insurance companies.
The Company offers consumer deposit and credit products. It provides personal trust, custodial, agency and investment management services to help meet estate and wealth transfer needs of its advisors' individual and corporate clients. The Company issues face-amount certificates through Ameriprise Certificate Company. It provides workplace financial planning and educational programs to employees of companies, small businesses and school district employees through its Financial Wellness Program.
The Asset Management segment provides investment advice and investment products to retail, high net worth and institutional clients on a global scale through Columbia Threadneedle Investments. Columbia Management primarily provides products and services in the United States and Threadneedle primarily provides products and services internationally. The Company provides the United States retail clients with products through unaffiliated third-party financial institutions and through its Advice & Wealth Management segment, and it provides institutional products and services through its institutional sales force. International retail products are primarily distributed through third-party financial institutions and unaffiliated financial advisors. Retail products include the United States mutual funds, exchange-traded funds (ETFs) and variable product funds underlying insurance and annuity separate accounts.
The Company provides investment advisory, distribution and other services to the Columbia Management family of funds. The Columbia Management family of funds includes retail mutual funds, exchange-listed ETFs and the United States closed-end funds and variable product funds. Retail mutual funds are available through unaffiliated third-party financial institutions and the Ameriprise financial advisor network. Variable product funds are available as underlying investment options in variable annuity and variable life insurance products, including RiverSource products. The Columbia Management family of funds includes domestic and international equity funds, fixed income funds, cash management funds, balanced funds, specialty funds, absolute return and other alternative funds and asset allocation funds, including fund-of-funds, with a range of investment objectives. Threadneedle offers a fund product range that includes different risk-return options across regions, markets, asset classes and product structures, which include retail funds.
The Company provides investment management services to a range of clients globally, including pension, profit sharing, employee savings, sovereign wealth funds and endowment funds, accounts of companies and governmental clients, as well as the accounts of high-net-worth individuals and smaller institutional clients, including tax-exempt and not-for-profit organizations. The Company's services include investment of funds on a discretionary or non-discretionary basis and related services including trading, cash management and reporting. The Company offers various fixed income, equity and alternative investment strategies for its institutional clients with separately managed accounts. It provides investment management services. It also provides investment management and related services to private, pooled investment vehicles organized as limited partnerships, limited liability companies or foreign entities. In addition to providing sub-advisory services and investment support pursuant to personnel sharing arrangements on an intercompany basis within the global asset management business, it acts as sub-advisor for certain funds, private banking individually managed accounts, common trust funds and other portfolios sponsored or advised by other firms.
The Annuities segment provides RiverSource variable and fixed annuity products to individual clients. The Company provides variable annuity products through advisors, and fixed annuity products are distributed through both affiliated and unaffiliated advisors and financial institutions. The Company's annuity products include deferred variable and fixed annuities, as well as immediate annuities. RiverSource variable annuity products in force offer a fixed account investment option with guaranteed minimum interest crediting rates. The Company offers the SecureSource 4 and SecureSource 4 Plus living benefit riders, optional guaranteed minimum withdrawal benefit (GMWB) riders that can be added to purchases of RiverSource variable annuities for a fee. RiverSource fixed annuity products provide a contractholder with cash value that increases by a fixed or indexed interest rate.
The Protection segment offers a range of products to address the protection and risk management needs of retail clients, including life, disability income and property-casualty insurance. The Company's products are designed to provide a lifetime of solutions that allow clients to protect income, grow assets and give to loved ones or charity. Life and disability income products are primarily provided through advisors. The property-casualty products are sold primarily through affinity relationships. The Company issues insurance policies through life insurance subsidiaries and the Property Casualty companies. Through the RiverSource Life companies, the Company issues both variable and fixed (including indexed) universal life insurance, traditional life insurance and disability income insurance. Universal life insurance is a form of permanent life insurance characterized by flexible premiums, flexible death benefits and unbundled pricing factors. The Company also offers a chronic care rider, AdvanceSource rider, which allows its policyholder to accelerate a portion of the life insurance death benefit in the event of a qualified chronic care need.
The Company's variable universal life insurance provides life insurance coverage along with investment returns linked to underlying investment accounts of the policyholder's choice. RiverSource fixed universal life insurance products provide life insurance coverage and cash value that increases by a fixed interest rate. RiverSource indexed universal life insurance (IUL) provides lifetime insurance protection and asset growth through index-linked interest crediting, without the impact of negative market returns. The Company offers personal auto, home, umbrella and specialty insurance products through IDS Property Casualty and its subsidiary, Ameriprise Insurance Company (the Property Casualty companies). It offers a range of coverage options under each product category. The Company's Property Casualty companies provide personal auto, home and liability coverage to clients in over 40 states and the District of Columbia. It reinsures a portion of the insurance risks associated with its life, disability income, long-term care and property casualty insurance products through reinsurance agreements with unaffiliated reinsurance companies.
Corporate & Other
The Company's Corporate & Other segment consists of net investment income or loss on corporate level assets. The net investment income or loss on corporate level assets includes excess capital held in the Company's subsidiaries and other unallocated equity.
Ameriprise Financial Inc
1099 Ameriprise Financial Ctr
MINNEAPOLIS MN 55474-0010