01—Abstract
Summary
Summary of the 10-Q filed October 31, 2025. Cited figures are marked; the original filing is the authoritative source.
Ameriprise Financial, Inc. reported strong financial results for the nine months ended September 30, 2025, with net income increasing by 10% to $2.56 billiona compared to the prior year period.
Total net revenues grew by 6% to $13.52 billionb, driven by a 9% increase in Management and financial advice fees. The company's Advice & Wealth Management segment saw a 3% rise in adjusted operating earnings, boosted by market appreciation and net inflows. The Retirement & Protection Solutions segment demonstrated robust growth with an 84% increase in adjusted operating earnings for the third quarter and a 26% increase year-to-date, largely due to favorable unlocking impacts, higher investment yields, and market appreciation.
The Asset Management segment's adjusted operating earnings rose by 6% in the third quarter and 8% year-to-date, primarily driven by equity market appreciation and expense management. The company repurchased $3.7 billionc of common stock during the nine months ended September 30, 2025, and announced a new $4.5 billion share repurchase authorization. Key financial metrics show continued strength, with total assets under management, administration, and advisement reaching $1.66 trillion, an 8% increase year-over-year.
The company maintained a strong capital position and liquidity, with $9.6 billiond in cash and cash equivalents (excluding CIEs and restricted cash) as of September 30, 2025. The effective tax rate for the nine months was 20.4%, slightly higher than the prior year's 20.0%.
02—Key points
Key Highlights
- Net income for the nine months ended September 30, 2025, increased 10% year-over-year to $2.56 billion.
- Total net revenues grew 6% year-over-year to $13.52 billion for the nine months ended September 30, 2025.
- Advice & Wealth Management segment's adjusted operating earnings increased 3% year-over-year for the nine months, driven by market appreciation and net inflows.
- Retirement & Protection Solutions segment's adjusted operating earnings surged 26% year-over-year for the nine months, benefiting from unlocking impacts and higher investment yields.
- Asset Management segment's adjusted operating earnings grew 8% year-over-year for the nine months, supported by market appreciation and expense management.
- Total assets under management, administration, and advisement reached $1.66 trillion, up 8% year-over-year.
- The company repurchased $3.7 billion of common stock during the nine months ended September 30, 2025, and has a remaining authorization of $3.5 billion.
03—One dollar
04—Financials
Financial Highlights
Figures from 10-QQ3 FY2025filed October 31, 2025Financial Statements
Q3 FY2025 against Q3 FY2024
| Line item | Q3 FY2025Q3 FY2024 | Change |
|---|---|---|
| Revenue | $4.89B$4.56B | +7.3% |
| Operating Expenses | $3.62B$3.75B | −3.6% |
| Net Income | $912.00M$511.00M | +78.5% |
| EPS (Basic) | $9.47$5.09 | +86.1% |
| EPS (Diluted) | $9.33$5.00 | +86.6% |
| Shares Outstanding (Basic) | 96.30M100.40M | −4.1% |
| Shares Outstanding (Diluted) | 97.80M102.20M | −4.3% |
05—Questions
Frequently Asked Questions
What is Ameriprise Financial's profitability trend for the reported period?
Ameriprise Financial demonstrated strong profitability. For the nine months ended September 30, 2025, net income increased by 10% year-over-year to $2.56 billion. This growth was driven by an 8% increase in Management and financial advice fees and solid performance across its key segments, particularly Retirement & Protection Solutions and Asset Management.
How did the company's different business segments perform?
All segments showed positive performance trends. Advice & Wealth Management saw a 3% increase in adjusted operating earnings due to market appreciation and net inflows. Retirement & Protection Solutions experienced a significant 26% increase in adjusted operating earnings year-over-year, fueled by unlocking impacts and favorable market conditions. Asset Management's adjusted operating earnings grew 8%, benefiting from market appreciation and effective expense management.
What is the company's overall financial health and liquidity position?
Ameriprise Financial maintains a strong financial position and liquidity. As of September 30, 2025, the company held $9.6 billion in cash and cash equivalents (excluding consolidated investment entities and restricted cash). They also have access to substantial borrowing capacity through credit facilities, indicating a solid liquidity profile to support operations and strategic initiatives.
What has been the company's approach to returning capital to shareholders?
Ameriprise Financial actively returns capital to shareholders. For the nine months ended September 30, 2025, the company paid $461 million in dividends and repurchased $3.7 billion of common stock. They also have a significant remaining authorization of $3.5 billion for future share repurchases, demonstrating a commitment to shareholder returns.
06—Continue