Overview
Regions Financial Corporation (ticker: RF) was formed in 1971 as First Alabama
Bancshares Inc. With the combination of three banks, the company was renamed
Regions Financial Corporation in 1994. Its merger with Memphis, Tennessee-based
Union Planters Corporation took place in July 2004. On November 6th, 2006, Regions
Financial Corporation and AmSouth Bancorporation merged to become the new
Regions Financial Corporation. This merger resulted in AmSouth Asset Management,
Inc. (AAMI) being absorbed into Morgan Asset Management, which was registered with
the SEC as a registered investment adviser in 1986. Due to internal restructuring, and
the sale of broker/dealer Morgan Keegan by Regions Financial Corporation, the firm’s
name was changed to Regions Investment Management, Inc. (RIM) in 2012.
RIM was formerly owned by RFC Financial Services Holding, LLC, which in turn, is a
wholly owned subsidiary of Regions Financial Corporation. Effective January 1, 2016,
RIM became a wholly owned subsidiary of Regions Bank, which is another wholly
owned subsidiary of Regions Financial Corporation. Regions Financial Corporation is a
regional financial holding company, and is a publicly held reporting company under the
Securities Exchange Act of 1934. The change
to RIM’s ownership structure did not
change the services offered through RIM.
RIM provides model strategies and provides portfolio management to Regions Wealth
Management, a business unit of Regions Bank for use by Regions Wealth Management
with its clients.
As of December 31, 2023, RIM managed $11,612,117,795 on a discretionary basis on
behalf of its clients, and $5,378,217,474 on a non-discretionary basis. Discretion means
that RIM does not need prior permission to conduct transactions in client accounts.
RIM’s total amount of assets under management is $16,990,335,269.
There are risks associated with any investment or advisory service. There are no
guarantees of the success of any investment or strategy, and it is possible that some or
all the principal could be lost. Past performance is not a guarantee of future
performance; clients invest at their own risk.
Tax implications are a critical component of any investment strategy. It is possible that
trading activities could result in taxable events and/or lower investment return. Because
investments may have tax or legal consequences, clients should contact their own tax
professionals and attorneys to assist them in answering questions about specific
situations or needs.