Parties Close Arrangement for Ameriprise to Become Comerica’s New Investment Program Provider

Ameriprise Financial, Inc. (NYSE: AMP) and Comerica, Inc. (NYSE: CMA) today announced that Ameriprise Financial Services, LLC and Comerica (through certain affiliates) have closed the arrangement in which Ameriprise has become Comerica’s new investment program provider. As such, Comerica has transitioned support of specific insurance, brokerage, and investment advisory activities to the Ameriprise Financial Institutions Group (AFIG). The new name representing this strategic relationship is Comerica Financial Advisors, powered by Ameriprise Financial.

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As a result of this strategic relationship, Comerica’s approximately 100 financial advisors in Texas, Michigan, California, Florida, Arizona, and the Carolinas now have access to a full range of leading services and solutions, including:

• Personalized advice and financial planning capabilities tailored to clients’ individual needs.
• Robust investment products to help clients achieve their financial goals.
• Digital capabilities that allow clients to connect with their advisors where and how they want—face-to-face, online, video or phone meetings.

“This arrangement is the start of an exciting journey for Comerica that allows us to enhance the offerings and client experience we provide our wealth management clients,” said Greg Carr, Executive Vice President and Executive Director of Wealth Management at Comerica. “Backed by the industry-leading support of Ameriprise, our advisors now have access to integrated technology, extensive investment solutions, award-winning service capabilities and marketing support, all of which will help differentiate our client and advisor experience.”

Comerica’s wealth management division manages approximately $195 billion in assets, approximately $18 billion of which had been previously managed by its securities business but is now supported by AFIG as part of the strategic arrangement with Ameriprise.

“On behalf of Ameriprise, we welcome the Comerica advisors, their staff, and leadership team to our institutions channel,” said Pat O’Connell, Executive Vice President and President of the Ameriprise Branch and Financial Institutions Channels. “We initiated this strategic relationship because of the many synergies between our two organizations with the ultimate goal to enhance the advisor and client experience for all involved. Completing a significant and complex conversion in eight months is a compliment and testament to the teams at Comerica and Ameriprise. We’ve reached an energizing new chapter for both firms.”