Summary
Ameriprise Financial, Inc. (AMP) reported solid results for the fiscal year ending December 31, 2011. The company demonstrated resilience in a challenging economic environment, growing its net revenues by 7% year-over-year to $10.2 billion. Net income attributable to Ameriprise Financial increased slightly to $1.08 billion, or $4.37 per diluted share, reflecting a stable operating performance. The company maintained a strong foundation, with $631 billion in assets under management and administration, though this represents a slight decrease from the previous year. Ameriprise continues to focus on its core strengths in wealth management and asset management, supported by a robust network of over 9,700 affiliated advisors.
Financial Highlights
38 data pointsBeta
Financial Statements
Beta
| Revenue | $10.24B |
| Operating Expenses | $8.74B |
| Operating Income | $1.18B |
| Net Income | $1.12B |
| EPS (Basic) | $4.62 |
| EPS (Diluted) | $4.53 |
| Shares Outstanding (Basic) | 241.40M |
| Shares Outstanding (Diluted) | 246.30M |
Key Highlights
- 1Total net revenues increased 7% to $10.2 billion, driven by growth in asset-based fees.
- 2Net income attributable to Ameriprise Financial was $1.08 billion, a slight increase from the prior year.
- 3Assets under management and administration stood at $631 billion, a decrease of 3% from 2010, reflecting market conditions and net outflows in asset management.
- 4The company maintained a strong advisor network, with over 9,700 affiliated advisors, and a client retention rate of 92%.
- 5Ameriprise Financial completed the sale of Securities America in Q4 2011, allowing a focus on its branded advisor network.
- 6The company repurchased approximately $1.5 billion of its common stock during 2011, demonstrating a commitment to returning capital to shareholders.
- 7The company reported an operating return on equity excluding accumulated other comprehensive income of 13.2%.
Frequently Asked Questions
Ameriprise Financial reported solid financial performance in 2011, with total net revenues of $10.2 billion, a 7% increase from 2010. Net income attributable to Ameriprise Financial was $1.08 billion, a slight increase from the previous year, reflecting stable operating performance despite economic headwinds.
Assets under management and administration decreased by 3% to $631 billion at December 31, 2011, compared to $647.5 billion at December 31, 2010. This decrease was primarily attributed to net outflows in the Asset Management segment and market depreciation, partially offset by net inflows in wrap accounts.
In 2011, Ameriprise Financial focused on strengthening its core businesses by completing the integration of Columbia Management, selling Securities America to concentrate on its branded advisor network, and continuing to invest in its technology platform to enhance advisor productivity and client service. The company also actively repurchased its common stock, returning capital to shareholders.
Ameriprise Financial operates through five segments: Advice & Wealth Management, Asset Management, Annuities, Protection, and Corporate & Other. The Advice & Wealth Management segment showed strong pretax income growth, driven by increased advisor productivity and client flows. The Asset Management segment benefited from the full year impact of the Columbia Management acquisition, although it faced net outflows. The Annuities segment's pretax income declined due to updated valuation assumptions and market impacts on DAC/DSIC amortization, while the Protection segment's pretax income decreased due to higher claims and administrative expenses.