American Express Financial Advisors (AEFA) has rebranded as Ameriprise, as part of its spin-off from American Express. Starting August 1, Ameriprise will be operating as an independent, publicly traded financial planning and financial services business, with the transaction is expected to be completed by the third quarter of 2005.
"The name represents our American roots and the vastness of our nationwide network of over 10,500 financial advisers," said Jim Cracchiolo, chairman and CEO of AEFA. "It also embodies the enterprising culture our people bring to bear in helping provide our clients the peace of mind that comes with planning for a secure financial future. We help people achieve the 'prize' of the American dream."