MINNEAPOLIS--(BUSINESS WIRE)--
Ameriprise Financial, Inc. (NYSE: AMP) today announced that it has
completed its all-cash acquisition of H&R Block Financial Advisors
(HRBFA) from H&R Block.
The more than 950 advisors of HRBFA work in 135 office locations
across the U.S. The advisors will become Ameriprise Financial-branded
employee advisors and will strengthen the company's presence in key
markets, including Florida, Texas and California.
With this acquisition, Ameriprise Financial now has more than
12,000 total advisors across all its platforms. The transaction is
also expected to add approximately 365,000 client accounts and $27.5
billion in client assets.
The transaction is expected to be accretive to earnings per share
and return on equity in early 2010.
Forward-Looking Statement
This news release contains a forward-looking statement concerning
the estimated financial accretion of the company's acquisition
reported herein. Such statement reflects management's plans, estimates
and beliefs, and is subject to risks and uncertainties, which could
cause actual results to differ materially from such statement. Readers
are cautioned not to place undue reliance on such forward-looking
statement, which speaks only as of the date hereof.
About Ameriprise Financial
Ameriprise Financial, Inc. is a diversified financial services
company serving the comprehensive financial planning needs of the mass
affluent and affluent.
For more information, visit ameriprise.com.
About H&R Block
H&R Block Inc. (NYSE: HRB) is the world's preeminent tax services
provider, having served more than 400 million clients since 1955 and
generating annual revenues of $4.4 billion in fiscal year 2008. H&R
Block provides income tax return preparation and related services and
products via a nationwide network of approximately 13,000
company-owned and franchised offices and through TaxCut(R) online and
software solutions. The company also provides business services
through RSM McGladrey and certain consumer financial services. For
more information visit our Online Press Center at www.hrblock.com.
Source: Ameriprise Financial
Contact: Ameriprise Financial
Investor Relations:
Laura Gagnon, 612-671-2080
[email protected]
or
Media Relations:
Ben Pratt, 612-678-5881
[email protected]
or
H&R Block
Investor Relations:
Derek Drysdale, 816-854-4513
[email protected]
or
Media Relations:
Nancy Mays, 816-854-4537
[email protected]