"Spun-off from American Express in 2005, Ameriprise Financial (AMP) is in the midst of a transformation from an insurer to a full-blown money management firm," notes long-term value investor John Buckingham.

The editor of The Prudent Speculator explains, "Eyeing an opportunity to gather assets on the cheap, the company spent close to $2 billion during the financial crisis.

"The company purchased Columbia Asset Management, J&W Seligman and H&R Block Financial. In total, it acquired $224 billion in new assets, bringing total assets under management to over $445 billion.

"Credit card demand has exploded in recent years. Today, credit cards are responsible for over $2.5 trillion in transactions each year," notes Ian Wyatt.

The editor of Top Stock Insights explains, "And no company is better positioned to capture the digital transaction market than Visa (V); further, investors have a window of opportunity right now to pick up shares at a great price.

"Different from credit card-issuers, Visa is shielded from the consumer credit troubles (such as delinquencies and defaults) because they don't lend to consumers.

"Our latest global play is on the strongest-performing stock market of 2010 among the roaring BRIC economies: India," says Nicholas Vardy.

The editor of Global Bull Market Alert explains, "We recommend the country's leading private bank, ICICI Bank Ltd. (IBN). I think the stock will be a moneymaker for you over the next few weeks.

"First, while the Indian market as a whole has risen sharply during September's bull run, Indian banks are the "secret" behind this roaring bull market.

"As a result of the Financial Reform Act, certain trust preferreds can offer investment-grade safety, robust yields of around 6-7%, and capital gains potential," suggests Carla Pasternak.

The editor of High Yield Investing explains, "Among our top picks in this group are Bank of America Capital Trust IV, 5 7/8% Capital Securities (BAC-U) and Wells Fargo Capital IX 5.625% Trust Preferred Securities (JWF).

"Traditional preferreds are an equity investment in a company. They are normally perpetual -- that is, they have no maturity date. In contrast, trust preferreds are debt, not equity. As such, they provide greater safety than traditional preferred stock.

"Two newcomers to our recommended list come from a sector still dogged by fears -- the financial sector; and interestingly, both specialize in a bit of an unusual type of finance: pawn loans," says John Reese.

Here, the editor of Validea -- which focuses on stocks that meet the investment criteria of some of the market's most successful professional investors -- offers a bullish review of EZCorp (EZPW) and Cash America International (CSH).

"Cash America gets approval from my James O'Shaughnessy-based strategy -- as well as from my Benjamin Graham value investing model.

Financial stocks have been in focus after earnings from heavyweights Goldman Sachs (GS), JP Morgan Chase (JPM), Bank of America (BAC) and others. Earnings at these top banks have apparently taken a hit as profits from their trading divisions have lagged. But investors shouldn't have to count on the investment arm of a big bank to make money.

There are a number of high yield dividend stocks in the financial sector which offer plenty of payback no matter what the market does. These are financial stocks with big dividends that have managed to maintain high yields even as other financials have cut or eliminated their payouts in the wake of the financial crisis.

"This month we are beefing up our Northern exposure with a Canadian bank: Toronto-Dominion (TD)," says growth and income specialist Stephen Leeb.

The editor of The Complete Investor explains, "Financial institutions offer leveraged exposure to the entire economic system. With Canada's upside greater than most, adding another bank makes good sense. By total assets, market cap, and adjusted net income, Toronto-Dominion is Canada's second-largest bank.

"And it's not only a force to reckon with in Canada, it has a large and growing presence in the U.S., where it ranks among the top 15 banking companies. It also has the distinction of being one of only three Aaa-rated banks on the NYSE and was the rare bank to not cut its dividend during the financial crisis.

"I know the promise of 17% interest – safely – is ridiculous. You should be skeptical when you see interest rates that high," cautions Steve Sjuggerud, an advisor know for his value-oriented and contrarian investment positions.

The editor of Daily Wealth explains, "But I assure you, what I'll share with you today is real and very safe ... all thanks to government foolishness. Below, we review Hatteras Financial (HTS). The company has a simple business. It only invests in these 100% government-guaranteed mortgage packages.

"The U.S. government backstopping the majority of American home mortgages. The government guarantees bankers and investors won't be at risk. It does this by buying mortgages from banks. It's a dumb deal for the government, but a brilliant deal for the banks and investors. And it means we can collect 17% interest, safely.

"Despite market declines-all markets around the world are now negative for year, most by between 10 and 20% -- valuations are not low enough for aggressive buying," cautions Adrian Day.

The international investing expert and editor of The Global Analyst adds, "However, several stocks on our recommended list are at good buying levels. One such stock is HSBC Holding (HBC), which we consider a core holding.

"Two trends are notable. First, the bank is repositioning itself in the U.S., even as it continues to run off residential mortgages, the business that has cost it billions of dollars in losses, with further to go in the process.

After reviewing the 79 different stocks in the Financial Select SPDR ETF, trading specialist Mike Turner says, "My top pick is Bank of America (BAC).

The editor of Double Digit Trading explains, "During the 2008-2009 financial crisis, BAC was one of the hardest hit banks. As customers fell behind on their loans and investments soured, BAC almost sank. But thanks to $45 billion in government bailout funds, this banking giant was able to stay afloat. Now, the tide seems to be turning for the better."

"Down with Goldman Sachs (GS), right? With the new that the SEC has filed civil fraud charges against the investment bank, many onlookers have called for fury to be unleashed against Goldman and, in turn, its fellow banking behemoths," notes Karim Rahemtulla.

The contributing editor to Investment U explains, "But Goldman has virtually no chance of being put out of business. That's because, as reprehensible as Goldman's behavior appears, the U.S. financial system is a cash cow for the government. And you don't kill cash cows"

"Imagine a business backed by taxpayers; better yet, a business that gets taxpayers' money at zero percent interest (or close to it) and then loans money back out to those same taxpayers at a 3% rate, or more," suggests Karim Rahemtulla.

The editor of The Xcelerated Profits Report explains, "Sounds like a sweet deal, right? But it gets even better. Taxpayers also cover a good chunk of the bad debts, too. So if you have toxic loans, you get to write them off at almost no cost. Where is this financial utopia? Right here in the United States."

This post is part of a special report, Top Picks for 2010, the 27th annual survey in which TheStockAdvisors.com asks the nation's leading advisors for their single favorite stock for the new year. See all 80 stocks listed here.

"Annaly Mortgage Management (NLY) is our favorite investment idea for 2010," says Jack Adamo.

In his Insiders Plus newsletter, he explains, "The company buys only Ginnie Mae, Fannie Mae and Freddie Mac bonds, all of which now have explicit U.S. government guarantees."

"The hands-down choice for growth in the insurance sector is in China, where the industry is just getting off the ground." says says growth stock expert Timothy Lutts.

In The Cabot Stock of the Month Report, he suggests, "CNinsure (CISG) is the king of the Chinese insurance industry. We believe the stock most attractive insurance industry investment in China today.

"When properly managed, a property and casualty insurance company is an excellent vehicle for participating in a region's growth. However, the average age of top insurance companies in the U.S. is 108 years and their assets of the U.S. are growing slowly.

"Direct Investment Plans -- or DRIPs -- are a great way to investor regardless of the market environment; in fact, avoiding the emotional decisions usually made by the typical investor may be their greatest strength," observes DRIP specialist Vita Nelson.

In her MoneyPaper's Direct Investing, she reviews the basics of DRIP investing and discusses her latest "Bargain Corner" stock pick -- Regions Financial (RF).

Vita Nelson explains, "This strategy involve the four Ds -- dividend reinvestment, dollar-cost averaging, diversification, and discipline.