In a release, Ameriprise says the Seligman acquisition adds morethan $16 billion in assets in open and closed-end funds, hedgefunds and institutional accounts. As of Sept. 30, the combinedfirms held approximately $144 billion in assets undermanagement.

The 144-year-old Seligman brand will continue to be used underthe RiverSource umbrella and the firm's investment management teamsare staying on, according to the release. Seligman is recognized inparticular for its technology investment team, which manages retailand alternative portfolios, including Seligman Communications andInformation Fund, the release says.

In July, Seligman president Brian Zino said in a release thatthe transaction will result in his company being "well positionedto increase distribution, grow assets and expand our serviceofferings to clients and their advisors." Jim Cracchiolo, chairmanand CEO of Ameriprise, said in July that his firm anticipated"substantial benefits from Seligman's experienced investmentmanagement team and broad retail, institutional and alternativeasset distribution strengths."