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January 13, 2012updated 04 Apr 2017 3:44pm

Ameriprise launches financial services in India

Ameriprise Financial, one of the largest financial planning firms in the US, has entered the Indian wealth management market. The financial services firm has launched operations in Mumbai and Delhi-NCR where it will offer holistic services, including wealth planning and management, to affluent Indian customers. India has traditionally been a difficult market for foreign private banks and wealth managers to break into because of its regulatory environment and intense local competition.

By Galen Stops

Ameriprise Financial, one of the largest financial planning firms in the US, has entered the Indian wealth management market.

The financial services firm has launched operations in Mumbai and Delhi-NCR where it will offer holistic services, including wealth planning and management, to affluent Indian customers.

India has traditionally been a difficult market for foreign private banks and wealth managers to break into because of its regulatory environment and intense local competition.

 

Trillion dollar appeal

Ameriprise Financial chairman and chief executive James Cracchiolo said that India is an important market for Ameriprise because of its trillion-dollar economy.

Ameriprise has had a presence in India since 2000 and has its headquarters in Gurgaon.

Ameriprise had over $650bn in assets under management and administration to 30 June 2011.

 

 

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