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Ameriprise Financial, Inc. (NYSE: AMP) today announced a definitive agreement to acquire HR Block Financial Advisors (HRBFA) for $315 million in cash from HR Block. The transaction is expected to be accretive to earnings per share and return on equity in early 2010. The more than 900 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 companys presence in key markets, including Florida, Texas and California. The combined company will have approximately 13,000 total advisors across all its platforms. The transaction is also expected to add approximately 376,000 client accounts and $30 billion in client assets. The acquisition of HR Block Financial Advisors reinforces our growth strategy and underscores the strength of our financial position, said Jim Cracchiolo, Ameriprise Financial Chairman and CEO. We are very pleased to add the seasoned
Leading members of Ameriprise Financial Services, Inc. Human Resources Team include Cassie Lewis-Byers.
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Ameriprise Financial, Inc. (NYSE: AMP) today announced that it has completed its all-cash acquisition of HR Block Financial Advisors (HRBFA) from HR 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 companys 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 companys acquisition reported herein. Such statement reflects managements plans, estimates and beliefs,
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