Ameriprise 2008 Annual Report Download - page 7
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3 percent as clients continued to recognize the
importance of protecting what matters most.
Our client-centered business model and commitment
to financial planning deliver many benefits to the
company and our shareholders, including diversity
of revenue and long-term stability. While our results
suffered with the markets in 2008, we see great
potential for our approach: Current market forces
are increasing consumers’ awareness of—and desire
for—comprehensive financial planning and advice,
just as the baby boomer generation begins to retire.
While we continue to invest for organic growth — we
invested approximately $240 million in medium- to long-
term business growth in 2008 —we are also capturing
other opportunities. We added H&R Block Financial
Advisors and Brecek & Young Advisors to our advisor
platforms, and supplemented our asset management
business with the addition of J. & W. Seligman.
The H&R Block Financial Advisors acquisition brought
us a productive and tenured force of 950 advisors and
provided an opportunity for us to revamp our employee
advisor group. While that work continues, we believe
we will have a more efficient employee advisor platform
that will produce stronger economic returns. The Brecek
& Young acquisition added approximately 300 inde-
pendent advisors, bringing our advisor force to about
12,500, the nation’s fourth-largest.
The acquisition of J. & W. Seligman added approximately
$13 billion in assets, including $3 billion in hedge funds,
and brought us strong investment teams, particularly
Ameriprise Financial 2008 Annual Report 5
Annuities
• $58 billion in annuity account values
• Capabilities: variable and xed
annuities
Protection
• $192 billion in life insurance in force
• A leading variable universal life
insurance provider in sales
• Capabilities: life, health and
auto & home insurance