AMERIPRISE FINANCIAL INC Annual Report, Year Ended Dec 31, 2013

Ameriprise Financial, Inc. (AMP) filed its 2013 10-K on February 26, 2014. The company demonstrated a strong increase in net income attributable to Ameriprise Financial, rising 30% to $1.334 billion from $1.029 billion in 2012. This growth was driven by a 10% increase in total net revenues to $11.199 billion, fueled by higher management and financial advice fees, distribution fees, and other revenues, largely due to increased assets under management and administration, which grew 13% to $771.3 billion. The company maintained a robust advisor network of over 9,700 advisors with strong retention rates. The conversion of its federal savings bank subsidiary to a national trust bank in January 2013 allowed for the release of capital, which was redeployed through share repurchases, positively impacting earnings per share. Ameriprise operates across five key segments: Advice & Wealth Management, Asset Management, Annuities, Protection, and Corporate & Other. The Advice & Wealth Management segment saw a significant 35% increase in operating earnings, driven by growth in wrap account assets and client activity. Similarly, the Asset Management segment experienced a 28% increase in operating earnings, benefiting from equity market appreciation and strategic business divestitures. The Annuities segment also showed substantial growth, with a 21% increase in operating earnings, supported by favorable unlocking and model changes. The Protection segment's operating earnings saw a slight decrease, primarily due to lower auto and home earnings. Overall, the company's financial performance in 2013 reflects a recovery and growth trajectory, supported by its diversified business model and strategic initiatives.