Summary
Ameriprise Financial, Inc. reported a strong financial performance for the fiscal year ending December 31, 2024, with pretax income increasing by 32% compared to the prior year. This growth was driven by robust net revenues, particularly from management and financial advice fees, which rose by 14% due to market appreciation and consistent client net inflows in the Advice & Wealth Management segment. The company's Asset Management segment also saw an increase in pretax adjusted operating earnings, driven by market appreciation and performance fees, despite facing net outflows. The company's financial health is further underscored by its significant assets under management, administration, and advisement, which grew to $1.5 trillion as of December 31, 2024. Ameriprise Financial continues to manage its capital effectively, returning value to shareholders through dividends and share repurchases. The company also maintains a strong liquidity position and robust capital levels, well in excess of regulatory requirements.
Financial Highlights
35 data points| Revenue | $17.93B |
| Operating Expenses | $13.00B |
| Net Income | $3.40B |
| EPS (Basic) | $33.67 |
| EPS (Diluted) | $33.05 |
| Shares Outstanding (Basic) | 101.00M |
| Shares Outstanding (Diluted) | 102.90M |
Key Highlights
- 1Ameriprise Financial demonstrated significant financial growth in 2024, with pretax income up 32% year-over-year, reaching $4.3 billion.
- 2Total net revenues increased by 11% to $17.3 billion, driven by a 14% rise in management and financial advice fees, largely supported by market appreciation and net inflows in Advice & Wealth Management.
- 3Assets under management, administration, and advisement grew by 10% to $1.5 trillion, highlighting the company's expanding asset base.
- 4The Advice & Wealth Management segment reported a 13% increase in pretax adjusted operating earnings, reaching $3.2 billion, supported by strong advisor productivity and client net inflows.
- 5The Asset Management segment's pretax adjusted operating earnings increased by 28% to $920 million, driven by market appreciation and improved performance fees.
- 6Shareholder value was enhanced through $593 million in dividends paid and share repurchases, with $888 million remaining under the current authorization as of year-end 2024.
- 7The company maintained strong regulatory capital positions across its subsidiaries, with insurance entities and Ameriprise Bank exceeding required capital levels.