Ameriprise Financial

Office address: 901 3rd Avenue South, Minneapolis, MN 55402 
Website: ameriprise.com 
Year established: 1894 
Company type: financial services 
Employees: 21,000+ 
Expertise: financial planning, investment management, retirement solutions, insurance, asset management, mutual funds, alternative investments, college savings, advisory services, structured products 
Parent company: N/A 
Key people: James Cracchiolo (CEO); Walter Berman (CFO); Gumer Alvero (president); William Davies (global chief investment officer); Deirdre McGraw, Heather Melloh, and Kelli Petruzillo (EVPs) 
Financing status: corporation 

Ameriprise Financial is a Minneapolis-based financial services company, serving more than 3.5 million clients and managing over $1.4 trillion in assets as of 2024. The firm offers financial planning, investment management, insurance, and retirement solutions. Ameriprise is known for its one-to-one advisor relationships and the Confident Retirement approach. 

History of Ameriprise Financial

Ameriprise Financial began in 1894, when John Tappan, just 24 years old, founded Investors Syndicate. By the end of that first year, the company managed $2,500 in assets.  

Over the next decades, Ameriprise grew through the Great Depression and paid every dollar owed to certificate owners, even as markets crashed and times were tough. 

Expanding horizons 

The company moved into mutual funds in 1940, starting with Investors Mutual Fund and adding more by 1945. In 1949, it adopted the name Investors Diversified Services, then joined American Express in 1984. By 1995, it operated as American Express Financial Advisors, with James Cracchiolo taking over as president and CEO in 2000. 

Becoming Ameriprise Financial 

The firm became an independent, publicly traded company in 2005 after one of the largest spin-offs in US history. It launched new brands, expanded its reach, and continued to acquire businesses, including H&R Block Financial Advisors during the Great Recession.  

The company also introduced the Confident Retirement approach in 2014, which shaped its personalized advice model. 

Recent milestones 

The company celebrated its 130th anniversary in 2024 as it marked more than a century of putting clients first. The company now manages over $1.4 trillion in assets and serves millions of clients. 

In 2025, Ameriprise Financial welcomed The Atlantic Group from Oppenheimer. This team manages more than $1.6 billion in client assets, further strengthening the advisor network. 

Ameriprise Financial products and services

Ameriprise Financial provides personalized investment options to match different goals and risk levels: 

Investment accounts and retirement solutions 

• IRAs and retirement plans: tax-advantaged savings for retirement 
• 401(k) and 403(b) rollovers: consolidation options for workplace retirement accounts 
• retirement plan solutions for businesses: tax-deductible contributions and growth opportunities 

Investment products 

• mutual funds: access to over 2,100 professionally managed funds 
• stocks and ETPs: long-term growth and portfolio diversification 
• bonds and fixed income: predictable income and risk management 
• alternative investments: options for portfolio diversification 
• structured notes: market exposure with downside protection features 
• structured CDs: market exposure with FDIC insurance to limits 
• unit investment trusts (UITs): passively managed, professionally selected securities 
• options: rights or obligations to buy or sell securities 

Education and advisory services 

• 529 college savings plans: tax-deferred growth for education expenses 
• advisory solutions: hands-on or delegated investment management 

Ameriprise Financial also provides digital tools for easy account access and goal tracking. Clients benefit from ongoing, personalized advice and a strong advisor relationship. 

Culture and corporate values 

Ameriprise Financial says that it has a values-based and inclusive culture that supports individual differences and encourages achievement. The company also reports that it values work-life balance and career growth for its employees. Their stated values include: 

1. client-focused  
2. integrity  
3. excellence  
4. respect 

Ameriprise Financial states employees receive competitive pay, incentives, and access to many workplace resources. Benefits include: 

• compensation and rewards: salary, annual and long-term performance incentives 
• health and wellness: medical, dental, vision, on-site clinic, and fitness center 
• insurance and protection: life, disability, and legal assistance plans 
• work-life balance: flexible work, mothers’ room, vacation, sick leave, and holidays 
• financial support: financial wellness program, coaching, and planning subsidy 
• employee perks: discounts on Ameriprise products and exclusive offers 
• education and support: tuition reimbursement and employee assistance program 
• commuter benefits: public transit and commuter programs for easier travel 

In terms of community impact, the firm donated $18 million in 2024 through grants, matching, and individual gifts. The company supported 7,800 nonprofits and recorded 50,000 volunteer hours that year as well. Since 2009, Ameriprise Financial has partnered with Feeding America to provide 124 million meals and nearly 408,000 volunteer hours. 

About CEO James Cracchiolo and key people

James M. Cracchiolo is chairperson and CEO of Ameriprise Financial, leading a firm with a 130-year legacy. Cracchiolo has guided Ameriprise and its earlier company since 2000, building on over 45 years in financial services. He earned both his bachelor’s and MBA degrees from New York University. 

The executive team at Ameriprise Financial includes leaders with deep experience and unique responsibilities: 

• Walter S. Berman is EVP and CFO, overseeing all financial operations and reporting 
• Gumer Alvero leads as president – insurance and annuities, managing insurance solutions and annuity products for clients 
• William Davies is global chief investment officer, Columbia Threadneedle Investments, guiding global investment strategy and research 
• Deirdre D. McGraw is EVP – marketing, communications and community relations, shaping the firm’s brand and outreach 
• Kelli Hunter Petruzillo is EVP – HR, focusing on talent development and employee engagement 
• Heather Melloh is EVP and general counsel, handling legal matters and corporate governance 

The Ameriprise Financial leadership team works to build a client-focused culture and support a workforce of over 21,000 people. Their goal is to keep employees engaged and deliver strong results for clients. 

The future at Ameriprise Financial 

In 2025, the firm began actively recruiting leading advisors from major firms, including Commonwealth. This strategy aims to expand Ameriprise Financial’s advisor network and strengthen its future offerings for clients. 

Ameriprise also set a new record in its wealth division, reaching over $1 trillion in client assets during the third quarter of 2025. It grew advisor productivity to $1.1 million per advisor and welcomed 90 experienced advisors, which showed steady expansion. These results help the firm boost its financial position and support its growth.