RiverSource operates as a subsidiary of a larger holding company, Ameriprise Financial. The company functions with three branches of diversified financial products that cover annuities, investment advice and related management, and general insurance. All three areas are based out of Minnesota. The company heavily markets its financial side with 80 different mutual funds, a quarter of which are institutional products to other businesses such as retirement plan administrators. The remainder of mutual funds available from RiverSource are sold both to companies as well as to individuals. Overall, the investment side of the house managed $60 billion in 2005. All of this activity is operated through RiverSource's boutique offices, taking advantage of a small, personal approach to win over customers big and small in various location markets strategically placed in Boston, Minneapolis and London-Europe.
The insurance side of the company focuses on marketing and selling life insurance products as well disability insurance to individuals. The company's product line covers both variable and fixed life insurance policies, emphasizing financial security from personal, financial risk of clients. Again, through the boutique office model, the company aims to capture clients and customers that prefer a cozier, face-to-face interaction rather than online relationships or corporate level interactions.