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Company Profile - American Express Financial Advisors

200 AXP Financial Center, H27/52
Minneapolis, MN 55474

Phone: 612-671-2711
Website: www.americanexpress.com

Key Facts

Has been offering financial planning services for more than 100 years.
Named a top ten company for working mothers by Working Mother magazine.
Key Financial Facts
2001 revenue: $4,791 million
1-yr. growth rate: -21.8 percent

Company Overview
American Express Financial Advisors (AEFA) is part of the American Express Corporation family of companies. Through a network of more than 9,900 financial advisors and its online resources, AEFA offers financial services in investment, retirement, college, estate, and income tax planning to more than 2.6 million clients throughout the United States.

A difficult economic terrain and equity market in recent years have weakened AEFA’s portfolio to some extent. In 2001, the company reported a 33 percent drop in net revenues, an eight percent decline in assets, and lowered sales of investment products. Responding to market conditions, AEFA restructured its employee advisor base (read: layoffs) and tightened hiring criteria. The company continues recovery efforts by initiating programs to expand its client base and diversity services offered, such as the American Express Platinum Financial Services, focusing on affluent clients, and the American Express ONE Financial Account, integrating investing, banking, and the American Express Card.

Major Line of Business : Investment Banking

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