10 years ago in the Profession

November 2002
Journal of Financial Planning;Nov2002, Vol. 15 Issue 11, p28
Academic Journal
This article provides information on an experiment by IDS Financial Services, the largest financial planning firm in the U.S., to change its name to its parent company, American Express, as a way to attract more clients and to retain more of its financial planners, as of November 1992. IDS planners in the U.S. began calling themselves American Express financial planners as part of a pilot program. The Association for Investment Management and Research introduced new reporting standards aimed at forcing money managers to use similar and reliable methods of calculating performance. Many leading financial planners felt that any financial planner managing money, regardless of the amount, would need to conform to the guidelines.


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