01/12/2012
Research commissioned by the company underscores Indian
consumers' need for holistic financial planning and
advice
MINNEAPOLIS - January 12, 2012 - Ameriprise Financial,
Inc., one of the largest diversified financial services
companies in United States, today announced its entry into
the Indian market with the introduction of financial
planning and advisory services. Ameriprise has rolled out
its operations from Mumbai and Delhi-NCR, where it will
offer holistic financial planning services to upwardly
mobile Indian consumers.
Ameriprise Financial has a 117-year heritage of offering a
comprehensive range of financial services to clients in the
U.S. and has a rich legacy of working with clients through
generations.
"Helping people feel more confident about their financial
future is the key principle upon which our company was
founded more than a century ago and it endures as our
mission today," said James M. Cracchiolo, chairman and CEO,
Ameriprise Financial. "With its trillion-dollar economy,
India is not only an important market from a business
perspective, but also one where our unique approach to
planning could truly transform the way Indian consumers
manage their finances."
The launch was marked with the unveiling of a
groundbreaking research study - Trends & Insights into
Financial Goals of Indian Consumers - which examines the
factors that influence professional, affluent Indian
consumers' financial decisions and their attitudes toward
financial planning.
"Consumers want an advisor they can trust to provide
unbiased advice, simplify their finances and ultimately
help them feel more prepared and confident about the
future," added Bimal Gandhi, chairman, Ameriprise India
Pvt. Ltd.; executive vice president - enterprise services,
Ameriprise Financial, Inc. "Our distribution alliances with
more than 70 leading Indian companies give us a great
opportunity to meet this existing need, which has not been
fulfilled by other financial services firms."
Ameriprise offers a comprehensive range of financial
planning services, based on its unique and holistic Dream
> Plan > Track >® approach which entails:
- An ongoing relationship with an Ameriprise
financial advisor, focused on a client's individual goals
and dreams
- A personalized financial plan that examines cash
flow, liabilities, insurance and investment needs
- Implementation of the financial plan through
investment solutions, including mutual funds, structured
products and insurance
- Regular monitoring of the client's investment
portfolio
- Ongoing financial advice to address evolving needs
through different stages of life
In addition to comprehensive financial planning advice,
Ameriprise India offers products across asset classes and a
transparent process of evaluation which helps ensure
unbiased advice. The firm's financial advisors undergo
intensive training programs, are supported by CERTIFIED
FINANCIAL PLANNERTM professionals, an experienced research
team and have the backing of a strong and stable
company.
Market Research - Trends & Insights into Financial Goals of
Indian Consumers
This research, which was commissioned by Ameriprise,
captures the attitudes and receptivity of urban affluent
professionals (age 28-45 with an average household income
of approximately $25,000 USD) toward financial planning,
and examines their current investment behaviors and key
decision-making factors. The study also highlights the gap
that can be addressed by professional financial advisory
services in India.
Some key trends from the study include:
- Financial goals revolve around the family.
Irrespective of age, income or geography, affluent Indian
consumers typically prioritize family-centric goals.
- People invest in what their neighbors invest.
Purchase decisions are being influenced by geography rather
than income, age or other demographics.
- Consumers are buying the right financial products
for the wrong reasons. In many cases, financial products
are being bought for reasons contradictory to the actual
product benefits.
- Indians want an advisor. More than 80 percent of
respondents view the benefits of financial planning
favorably, but only a few have sought professional advice
for a fee. Family and friends remain the most trusted
sources of advice.
- Consumers are looking for professional services
they can depend on. Consumers want a long-term and
dedicated advisor who understands the complete product
landscape and can provide a comprehensive suite of
financial products and services to help meet their goals in
a fully transparent manner.
Indian consumers currently rely on different financial
professionals for recommendations on specific products, and
feel that there is a lack of a single source who can serve
their financial needs. While most acknowledge that
financial planning is a complex and scientific process,
their awareness of the planning process is limited. Many
view financial planning as a means to achieving a financial
return, tax-saving benefit or short-term goals; decisions
to invest are typically triggered by specific life events
instead of being proactive or strategic. Despite the
plethora of financial players in the market today and easy
access to information, most Indians are not thinking of
financial planning as a roadmap to help them achieve their
goals and the dreams they have for their families.
Ameriprise Financial is a pioneer in financial planning.
Its comprehensive financial planning approach and stringent
processes ensure that clients receive personalized advice
aimed at helping them achieve individual goals and dreams.
This approach differentiates Ameriprise significantly from
existing financial services providers in India and makes it
well equipped to provide unique benefits to Indian
consumers - whether it is for their immediate needs or
future goals.
Ameriprise in India
Ameriprise Financial has maintained operations in India
since 2000 and has its India headquarters in Gurgaon. Our
financial advisors deliver tailored solutions to clients
through a personalized approach to financial planning and
advice built on long-term relationships. For more
information, visit ameriprise.co.in.
About Ameriprise Financial
At Ameriprise Financial, we have been helping people feel
confident about their financial future for over 115 years.
With outstanding asset management, advisory and insurance
capabilities and a nationwide network of 10,000 financial
advisors, we have the strength and expertise to serve the
full range of individual and institutional investors'
financial needs. For more information, or to find an
Ameriprise financial advisor, visit ameriprise.com.
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Brokerage, investment and financial advisory services
in the U.S. are made available through Ameriprise Financial
Services, Inc. Member FINRA and SIPC. Some products and
services may not be available in all jurisdictions or to
all clients.
© 2012 Ameriprise Financial, Inc. All rights reserved.
Ameriprise Financial Launches Financial Planning Services in India
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