Asset Accumulation and Income
Our asset accumulation and income business offers a broad array of asset accumulation
and income management products and services to help our clients address identified
financial objectives.
Retail Products and Services. We offer our retail clients financial planning
and other financial services through our nationwide network of financial advisors
and registered representatives, as well as solutions to address our clients'
identified cash management, fixed income and equity needs. These products include
mutual funds, variable and fixed annuities, wrap accounts and face-amount certificates,
and brokerage and other services, as well as deposit and credit products and
personal trust services through service arrangements with American Express Bank,
FSB, a subsidiary of American Express Company. In addition to marketing our
own products and services to retail clients through our nationwide network of
financial advisors, we also market our own products and services to retail clients
through strategic marketing alliances and local marketing programs for our branded
advisors, and to employees of our corporate clients in on-site workshops through
our Financial Education and Planning Services group, as well as our annuity
products through third party banks and broker-dealers.
Institutional Products and Services. We offer separately managed account services
to a variety of institutional clients, including pension plans, employee savings
plans, foundations, endowments, corporations, governmental entities, high-net-worth
individuals and not-for-profit organizations. We also provide investment management
services for the general and separate accounts of insurance companies, including
for our insurance company subsidiaries. In addition to asset management services,
we also provide other alternative investment products, such as collateralized
debt obligations, or CDOs, to our institutional clients.
Retirement Products and Services. We provide a variety of retirement services
for our clients. The primary market for our retirement services is retirement
plans with at least $10 million in assets, which are generally sponsored by
mid- and large-size private employers, governmental entities and labor unions.
We provide investment management services to collective investment funds held
through our trust company subsidiary and offer additional services to employer-sponsored
retirement plans. This amount does not include AXP Funds held in retirement
plans, which we include under assets managed for retail clients. Our trust company
also provides trustee, custodial, record keeping, securities lending and common
trust fund services for employer-sponsored retirement plans, including pension,
profit-sharing, 401(k) and other qualified and non-qualified employee retirement
plans as well as institutional asset custodial services to our affiliates.
International Products and Services. Outside the United States, we offer investment
management products and services through Threadneedle, our U.K.-based investment
management group. Threadneedle offers a wide range of asset management products
and services, including segregated asset management, mutual funds and hedge
funds, to institutional clients and insurance companies, as well as to retail
clients through intermediaries, banks and fund platforms in Europe.
Protection
We offer a variety of protection products, including life insurance, disability
income insurance, long-term care insurance, and personal auto and home insurance,
to address the identified protection and risk management needs of our retail
clients. We offer life, disability income and long-term care protection products
primarily to our clients with financial plans and exclusively through our financial
advisor network. We offer our personal auto and home protection products primarily
on a direct basis through co-marketing alliances.