Ameriprise Financial Donates Over $16.5 Million to Support Basic Needs in 2023, While Offering Practical Financial Tips to Millionaires
MINNEAPOLIS - Ameriprise Financial, Inc. (NYSE: AMP) demonstrated its commitment to helping individuals in need by donating more than $16.5 million in 2023 through a combination of corporate grants, individual donations, and gift matching. The firm focused its efforts on funding nonprofits that address critical issues such as hunger, shelter, and economic stability. Alongside these charitable initiatives, Ameriprise also released new research that shed light on the habits and behaviors of millionaires, providing practical financial tips to help others achieve financial success.
The philanthropic efforts of Ameriprise Financial were driven by both its employees and advisors, who were actively involved in giving back to their communities. Through various initiatives, the employees and advisors of Ameriprise dedicated nearly 63,000 volunteer hours throughout the year, supporting causes and organizations aligned with the company’s mission.
Ameriprise’s commitment to supporting basic needs is evident in its choice of nonprofits to fund. By focusing on hunger, shelter, and economic stability, the firm aims to make a tangible impact on individuals’ lives who are experiencing financial hardships or facing challenging circumstances. Through corporate grants, Ameriprise directs resources to organizations that provide vital support, including emergency food assistance, homeless shelters, and programs that uplift individuals and families toward financial self-sufficiency.
Additionally, Ameriprise Financial released new research that highlights the practical behaviors and discipline required to become a millionaire. The survey, involving 580 Americans ages 27-77 who have accumulated more than $1 million in investable assets, revealed that 80% of respondents attributed their financial success to strategic financial planning and investing. These individuals demonstrated prudence, discipline, and a long-term mindset when it came to managing their money, serving as an inspiration to others seeking financial stability.
The findings of the survey indicate that anyone can achieve financial success by adopting similar habits and approaches. Practical financial tips gleaned from the research include setting clear financial goals, creating a budget, regularly monitoring and adjusting investments, seeking professional advice, and remaining patient and committed to long-term financial planning.
In addition to its philanthropic efforts and research on millionaires, Ameriprise Financial also received affirmation from AM Best, a reputable credit rating agency. AM Best affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of aa- (Superior) for Ameriprise’s key life/health insurance subsidiaries, RiverSource Life Insurance Company and RiverSource Life Insurance Co. of New York. These ratings reflect the company’s strong financial stability and ability to meet policyholder obligations.
In conclusion, Ameriprise Financial’s dedication to corporate social responsibility shines through its immense charitable donations, volunteer efforts, and research-driven initiatives. By addressing basic needs and sharing practical financial tips, the company helps individuals and communities build a more secure future. With its positive impact on society and commitment to financial excellence, Ameriprise Financial sets a shining example for both individuals and businesses.
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