American Express Financial Advisors Inc. (Minneapolis)


American Express Financial Advisors Inc. is a large advisory firm based in Minneapolis. It manages $37.26 billion of regulatory assets for 371,100 client accounts. It has been registered with the SEC as an adviser since 2000 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 45 other states.

American Express Financial Advisors provides financial planning services, portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, pension consulting services, selection of other advisers, and market timing services. It prepares financial plans for approximately 225,000 clients. On top of advisory services, the firm doesn't engage in other business activities.

American Express Financial Advisors: assets under management

The assets under management (AUM) of American Express Financial Advisors Inc. is $37.26 billion. The firm's AUM has grown by 81% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $1.92 billion in discretionary accounts and $35.34 billion in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $130.19 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $99.17 thousand.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay American Express Financial Advisors Inc. for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Hourly charges are usually charged for consulting work and special projects. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

Careers at American Express Financial Advisors Inc.

Steven Craig Kumagai has been acting as President since 1 Feb 1994. Kurt Walker Lofgren joined the executive team most recently as the Vice President And Chief Compliance Officer U.S. Retail Distribution.

Direct owners and executive officers


Name Entity Date acquired Ownership Employer ID
American Express Financial Corporation Shareholder 1 May 1979 75% - 100% 13-3180631
Inc. Ameriprise Financial Shareholder 1 May 1979 75% - 100% 13-3180631
David Ray Hubers Chairman, ceo & president 1 Aug 1993 Other 1528153
Steven Craig Kumagai Director 1 Feb 1994 Other 1184683
Douglas Albert Lennick Director 1 Mar 1994 Other 306592
Stuart Alan Sedlacek Cfo 1 Mar 1998 Other 1384871
Colleen M Curran Vp, executive representative & assistant general counsel 1 Oct 1998 Other 1561042
Verna Jean Kaufman Srop & crop 1 Oct 1998 Other 1626258
John Carl Junek General counsel 1 Jun 2000 Other xxx-xx-xxxx
Barry J Murphy Executive vice president - retail group 1 Sep 2000 Other 2552832
Daniel Arthur Gibbons Srop 1 Nov 2000 Other 2114836
James Michael Cracchiolo President and ceo 1 Nov 2000 Other 4251944
Beth Ellen Weimer Chief compliance officer 1 Jun 2001 Other xxx-xx-xxxx
William Frederick Truscott Cio 1 Sep 2001 Other 2416857
Diane Dee Lyngstad Cfo and vice president - compensation and licensing servcies 1 Sep 2001 Other 2536158
Barbara Helen Fraser Executive vice president - products and corporate marketing 1 Jun 2002 Other 3023984
David Kent Stewart Acting cfo 1 Jul 2002 Other 2990869
Joseph Edward Sweeney Senior vice president, general manager - us brokerage and membership banking 1 Apr 2003 Other 4668713
Mark Edward Schwarzmann Senior vice president - insurance and annuities 1 Feb 2004 Other 4742555
Brian Michael Heath Senior vice president - advisor group 1 Feb 2004 Other 1258626
Rebecca Koenig Roloff Senior vice president - global financial services 1 May 2004 Other 2085971
Walter S Berman Director 1 May 2004 Other 4500271
Kim Michele Sharan Senior vice president, chief marketing office 1 Jun 2004 Other 736812
Daniel Halverson Srop 1 Nov 2004 Other 2691757
Daniel Dean Halvorson Srop 1 Nov 2004 Other 2624716
Kurt Walker Lofgren Vice president and chief compliance officer - u.s. retail distribution 1 Jul 2005 Other 3048472

Indirect Owners

The SEC currently registers 1 indirect owner.

Name Entity Date acquired Ownership Employer ID
American Express Company Shareholder 1 Jan 1984 75% - 100% 13-4922250

Based in Minneapolis

The principal office where American Express Financial Advisors Inc. performs its advisory services is located at 50611 Ameriprise Financial Center, Minneapolis, MN 55474, which is also the mailing address of the firm. An additional office of the firm is in Youngstown, OH. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 612-671-3662 or by fax 612-671-3767. The normal business hours are 8:00 am to 5:00 pm on Monday - Friday. You can find more information about the New York firm at finance/americanexpress.com/finance/advisors.asp.

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