The financial components of America would be lacking considerable girth without its Minnesota components. Have you heard of Wells Fargo? Of course you have, and you may not know that Wells was acquired by Minnesota's Norwest Bank in 1998. Although Norwest was the acquirer, the historical significance of the Wells Fargo brand survived, and the functional result of the acquisition was a merger of equals. Minnesota lost one of the more prominent figures in its financial industries arsenal when the combined company chose California as their new corporate home. There are still a few substantial names in Minnesota's headquartered financial citizenry.
Not just a bank, but definitely a familiar name in money matters is Ameriprise Financial, a company that was founded in 1894, and continues today to have its headquarters in Minneapolis. The company has changed names from Investors Syndicate, it original title, to Investors Diversified Services, to American Express Financial Advisors, to it s current Ameriprise Financial. It is a provider of financial planning and retirement products, investment, banking and cash management, and insurance.
Ameriprise is the largest financial planning firm in the United States, with more Certified Financial Planners than any other company and serving over two million clients. The company has made numerous acquisitions over the last several years including H & R Block, Columbia Asset management Group, and J&W Seligman. A financially healthy company, Ameriprise refused TARP money.
Ameriprise Financial is ranked by Fortune as the twelfth largest publicly traded company in Minnesota. It trades on the Nasdaq Exchange under the symbol AMP, and it has a long history of profitability and pays a nice stockholder dividend too. Minnesota's business climate is served well with Ameriprise Financial a substantial component and a great member of the Minnesota business family. If your business is looking for a better place to call home, look to Minnesota.