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AMP > SEC Filings for AMP > Form 8-K on 21-Nov-2008All Recent SEC Filings

Show all filings for AMERIPRISE FINANCIAL INC | Request a Trial to NEW EDGAR Online Pro

Form 8-K for AMERIPRISE FINANCIAL INC


21-Nov-2008

Regulation FD Disclosure


Item 7.01 Regulation FD Disclosure.

Ameriprise Financial, Inc. (the "Company") intends to record a pretax charge of approximately $40 million, or $26 million after-tax, in the fourth quarter of 2008. The charge results from merger-related costs associated with three acquisitions that closed in the fourth quarter:

† The acquisition by the Company's wholly owned subsidiary, Securities America Financial Corporation, of Brecek & Young Advisors, Inc. ("Brecek & Young"), which closed on October 31, 2008;

† The acquisition of HRB Financial Corporation (including its principal operating subsidiary, H&R Block Financial Advisors, Inc., now known as Ameriprise Advisor Services, Inc.)("HRB"), which closed on November 1, 2008; and

† The acquisition of J. & W. Seligman & Co., Incorporated ("Seligman"), which closed on November 7, 2008.

The Company expects the Brecek & Young and Seligman acquisitions to be accretive to earnings and return on equity in 2009, and the HRB acquisition to be accretive to earnings and return on equity in the first half of 2010.

This Current Report contains forward-looking statements concerning the estimated financial accretion of the Company's acquisitions described herein. Such statements reflect management's plans, estimates and beliefs, and are subject to risks and uncertainties, which could cause actual results to differ materially from such statements. Readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof.


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