American Express Advisors changes name

According to a May 25 news release from the company, the name change is part of American Express Financial Advisors’ spin-off from American Express Co. in order to form an independent, publicly traded financial planning and financial services business.

Jim Cracchiolo, chairman and CEO of AEFA, said the name represents the company’s American roots and the “vastness” of the nationwide network of more than 10,500 financial advisers.

“The name Ameriprise reflects both our history and our strengths as one of the leading financial services firms in the United States,” Cracchiolo said in the news release.

The Ameriprise Financial brand also will be used for the holding company and other selected businesses, such as Ameriprise Retirement Services, Ameriprise Certificate Co. and Ameriprise Auto and Home.

“We conducted extensive research – with our financial advisors, our employees and consumers – to create a name that resonates with our heritage, our brand image and our values,” said Kim Sharan, AEFA chief marketing officer, in a news release.

A compass, to symbolize how the company directs and assists its clients through their financial futures, is the basis of the new Ameriprise Financial logo. The company plans to launch a major national advertising campaign this fall in support of the new brand.