American Express Financial Advisors will rechristen itself Ameriprise ahead of this fall's planned spinoff from parent American Express Company, it was announced last week.

The background to the announcement was Minneapolis's historic State Theater. To the accompaniment of portentous music, AEFA ceo Jim Cracchiolo revealed the new name to a crowd of breathless financial acolytes and employees. It will go live on August 1.

Ameriprise materialized like ectoplasm from suggestions made by the company's 8,000 staff and 10,000-plus financial advisors, while branding specialist Lippincott Mercer helped along the way.

Revealed a straight-faced Cracchiolo: "The name represents our American roots ... and embodies the enterprising culture our people bring to bear in helping provide our clients the peace of mind that comes with planning for a secure financial future."

Earlier this month, AEFA appointed Publicis Groupe's Saatchi & Saatchi Worldwide to launch the new brand via a $55 million (€44.54m; £30.17m) national advertising campaign, breaking this fall.

Data sourced from AdAge (USA); additional content by WARC staff