About Ameriprise One Financial Accounts

Money management can be a real challenge, especially for someone with multiple investments. There are accounts, though, that can automate this process for you and move money from one type of investment to another without you having to do a thing. The Ameriprise One Financial Account from Ameriprise One Financial Services is one of those accounts. It can be helpful to individuals who want to make a financial plan and stick with it long-term, and who don't want to have to worry about the mechanics of moving money around within their investments.

History

Ameriprise Financial Services is a company that is a spin-off of the American Express Financial Services Company. Ameriprise was formed in 2005, as a result of American Express Financial Services cutting back on their services and narrowing in on just being a credit card company. Ameriprise Financial Servies is a self-supporting company with no further ties to American Express.

Significance

An Ameriprise One Financial Account gives the customer full access to financial-planning services. A financial planner can assist a customer in many aspects of her short- and long-term financial planning. Financial planners are able to assist customers collect wealth and advise them on how to invest and save money in the most efficient manner, to manage costs like taxes and prepare for retirement.

Types

Ameriprise Financial Services offer many different options for customers. There are banking-management options that help customers effectively use a combination of CDs, savings accounts, checking accounts, credit cards and debit cards to manage their financial activities. Ameriprise also offers investment services that help in purchasing stocks and bonds. Loans are offered through Ameriprise, including home equity and mortgages. Planning for uncertainties is covered via optional life-insurance options.

Benefits

The Ameriprise One Financial account combines all of these options into one account. It is a money-management account that combines cash, short- and long-term investment, credit cards and bill paying. With an Ameriprise One Financial Account, the customer can transfer his money between these accounts easily. He can even schedule monthly transfers or pay himself amounts from one account in his profile to another, based on criteria he sets. Monthly bill payments can be scheduled as well, with the holder's Ameriprise One Financial account supplying the funds to pay those bills.

Warning

Diversifying your investments can be a good idea, and that includes using several different companies. With the financial insecurity in today's financial market, having all of your accounts locked in with one company increases your level of risk. The convenience is an advantage, but the risk in an unsteady market must be weighed as well before you put all of your eggs in one basket.