On May 1, 2010, insurance brokerage Ameriprise Financial closed on its acquisition of Columbia Management. In the wake of that deal, Columbia largely swallowed the RiverSource brand (at least for U.S. asset management, and not including annuities or various other insurance products).
Founded as Investors Syndicate, this fund family was one of the first integrated with a broker-dealer. Later, the funds rebranded as Investors Diversified Services (IDS) Funds. American Express purchased IDS in 1994. American Express spun the funds off as part of Ameriprise in September 2005. At that time the funds were rebranded as RiverSource. The more than 60 retail mutual funds had approximately $60 billion in assets under management as of June 30, 2005. In 2008 it purchased J.W. Seligman.