Ameriprise Financial history

The Panic of 1907 spreads through the country, bankrupts brokerage firms and prompts investors to pull their money out of banks.

In 1925, West Coast businessman J. R. Ridgway merged his investment firm with Investors Syndicate, and took over as president.

In 1940, Investors Syndicate introduced one of the first mutual funds, the Investors Mutual Fund, giving clients new investing options and two advantages: diversification and professional management.

Investors Stock Fund and Investors Selective fund follow in 1945.

Ruth Abrahamson joins the company in 1946 and later becomes the number one female sales representative in the country.

In 1949, Investors Syndicate changed its name to Investors Diversified Services, Inc. (IDS).

In 1958, IDS founded the Investors Syndicate Life Insurance and Annuity Company (now known as RiverSource Life Insurance Company).

Investors Syndicate Life Insurance and Annuity Company is formed (renamed IDS Life Insurance Company in 1973).

In 1974, the IDS Centre (now IDS Center) is opened in downtown Minneapolis as the company's headquarters.

In 1979, the Ridgway family sold the last of its ownership interest.

The company was founded in 1983 and is headquartered in Minneapolis, MN, United States.

In 1984, American Express acquired IDS Financial Services from Alleghany Corporation.

In 1986, IDS acquired Wisconsin Employers Casualty Company of Green Bay, Wisconsin and renamed it IDS Property Casualty Insurance Company.

In 1993, Financial Dynamics created Securities America, an independent securities broker/dealer, to use its insurance sales force to offer investment management, financial advice and financial planning through a national network of independent financial advisors.

In 1994, IDS reached $100 billion in assets.

Effective January 1, 1995, IDS changed its name to American Express Financial Corporation, doing business as American Express Financial Advisors (AEFA).

In October 2003, AEFA acquired London-based Threadneedle Asset Management Holdings.

In September 2005, American Express completed the corporate spin-off of AEFA as Ameriprise Financial, Inc., a public company.

In September 2006, the company launched Ameriprise Bank, FSB.

In November 2008, the company acquired H&R Block Financial Advisors for $315 million, and the asset management firm J. & W. Seligman & Co. for $400 million.

In 2009, Ameriprise acquired Standard Chartered Bank's World Express Funds investment funds business, providing Threadneedle with an established Luxembourg-based SICAV platform with over US$2.38 billion worth assets under management.

In May 2010, Ameriprise Financial acquired Columbia Management, the long-term asset management business of Bank of America, for $1 billion.

In August 2011, Threadneedle announced the acquisition of the £8 billion in investment assets of LV=.

In January 2012, the company opened services to individuals in India with US$40,000 equivalent minimum income.

In 2015, Threadneedle rebranded as Columbia Threadneedle.

In 2017, the company acquired Investment Professionals, Inc.

In 2019, the company sold Ameriprise Auto & Home Insurance to American Family Insurance for $1.05 billion.