IDS Financial Services, American Express Co.'s financial planning unit, will take on a new name Jan. 1.

In changing its moniker to American Express Financial Advisors. the company said it hopes to "leverage the power of the American Express brandname." The switch should help IDS reach new clients among American Express' 5 million U.S. cardholders, the company said in a news release.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.