01—Abstract
Summary
Summary of the 10-K filed February 20, 2025. Cited figures are marked; the original filing is the authoritative source.
Ameriprise Financial, Inc. reported a strong financial performance for the fiscal year ending December 31, 2024, with pretax income increasing by 32%a 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 trillionb 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.
02—Key points
Key Highlights
- Ameriprise Financial demonstrated significant financial growth in 2024, with pretax income up 32% year-over-year, reaching $4.3 billion.
- Total 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.
- Assets under management, administration, and advisement grew by 10% to $1.5 trillion, highlighting the company's expanding asset base.
- The 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.
- The Asset Management segment's pretax adjusted operating earnings increased by 28% to $920 million, driven by market appreciation and improved performance fees.
- Shareholder 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.
- The company maintained strong regulatory capital positions across its subsidiaries, with insurance entities and Ameriprise Bank exceeding required capital levels.
03—One dollar
04—Financials
Financial Highlights
Figures from 10-KFY2024filed February 20, 2025Financial Statements
FY2024 against FY2023
| Line item | FY2024FY2023 | Change |
|---|---|---|
| Revenue | $17.93B$16.10B | +11.4% |
| Operating Expenses | $13.00B$12.30B | +5.7% |
| Net Income | $3.40B$2.56B | +33.1% |
| EPS (Basic) | $33.67$24.18 | +39.2% |
| EPS (Diluted) | $33.05$23.71 | +39.4% |
| Shares Outstanding (Basic) | 101.00M105.70M | −4.4% |
| Shares Outstanding (Diluted) | 102.90M107.80M | −4.5% |
05—Questions
Frequently Asked Questions
What was Ameriprise Financial's overall financial performance in 2024?
Ameriprise Financial experienced a strong year in 2024. Pretax income increased by 32% to $4.3 billion, and total net revenues grew by 11% to $17.3 billion. This growth was primarily driven by increased revenue from management and financial advice fees, as well as positive market performance and client inflows.
How did the company's different business segments perform?
The Advice & Wealth Management segment saw a 13% increase in pretax adjusted operating earnings to $3.2 billion, driven by market appreciation and increased advisor productivity. The Asset Management segment's pretax adjusted operating earnings grew by 28% to $920 million, supported by market appreciation and performance fees. The Retirement & Protection Solutions segment reported a 6% increase in pretax adjusted operating earnings to $726 million. The Corporate & Other segment incurred a pretax adjusted operating loss of $443 million.
What is the company's total Assets Under Management, Administration, and Advisement (AUA)?
Ameriprise Financial's total Assets Under Management, Administration, and Advisement increased by 10% to $1.5 trillion as of December 31, 2024, compared to $1.4 trillion as of December 31, 2023.
06—Continue