Ameriprise Auto & Home Insurance
Ameriprise Auto & Home Insurance
55 Ameriprise Financial Center,
Minneapolis, Minnesota 55474
Ameriprise Auto & Home Insurance prides itself in providing the industry with low-cost, high-quality insurance for over 20 years. As proof of the company’s endeavors to provide the best service, A.M. the top insurance rater in the United States, has given Ameriprise an excellent rating. It shows the company’s ability to operate on high levels of financial strength and stability.
The company that John Tappan established as Investors Syndicate has lasted over 110 years in the industry, to which it is now known as Ameriprise Financial Inc. Their business involves helping people turn dreams into reality. They rank no. 4 in the category of largest financial advisory companies in the U.S. As of 2010, the company has more than 12,000 financial advisors and has 2.8 million clients. For these achievements, Ameriprise Financial is included in the Forbes Fortune 500 companies. In addition, the national surveying firm Business Week, released that Ameriprise Financial is the 67th best place to start your career in. It ranked the fifth in overall client satisfaction in a survey conducted by J.D. Power & Associates in 2009.
James M. Cracchiolo is the current Chief Executive Officer and Chairman of Ameriprise Financial since September 2005. He has 25 years of experience in the financial services industry. He took over the leadership of the company after it broke away from American Express. They stand by their mission which is to deliver financial solutions for present and future lifestyles of their clients. All of this is done, with a personalized approach through assigning financial advisor to each customer. Their strategy is to help their clients Dream>Plan>Track>.
Located at 55 Ameriprise Financial Center, Minneapolis, Minnesota 55474, is the Headquarters of Ameriprise Financial Inc. Included in their list of services are: financial planning, products and services customized for different purposes during liquidity, asset accumulation, income, protection, estate and wealth transfer requirements. They are also noted for the “umbrella insurance policy” which extends the coverage of regular insurance policies when fees exceed the limit.
In its recent activities, the company acquired Columbia Management for $1.2 billion from the Bank of America in 2009. Prior to this acquisition, it was H&R Block Financial Advisors that was sold to the company for $315 million.
Back in 2005, Ameriprise Financial was surrounded by controversy when they were asked to settle $12.3 million to the National Association of Securities Dealers. There were alleged favorable dealings with certain mutual funds which were exchanged for brokerage business. There was also another $15 million settlement handed to the Securities and Exchange Commission for certain accusations of changing the market timing. However, it is duly noted that all the violations took place prior to the spin-off from American Express. Despite these hurdles, the firm was still on track and in 2006 its Return on Equity was 8.3%.
Some of the company’s main competitors include: John Hancock Financial Services, Merrill Lynch, Edward Jones Investments and The Vanguard Group, just to name a few.