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AMERIPRISE FINANCIAL INC 8-K Report, Financial Results (Jan 29, 2026)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed January 29, 2026
Period End
January 29, 2026
Security
AMP
In the record · 2016–202610-K1210-Q328-K88

AMP filed 12 annual reports (10-K), 32 quarterly reports (10-Q) and 88 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Oct ’17Oct ’17
  2. Material agreement8-K · Apr ’20Apr ’20
  3. Leadership change8-K · Sep ’22Sep ’22
  4. Leadership change8-K · Feb ’25Feb ’25

01—Abstract

Summary

Summary of the 8-K filed January 29, 2026. Cited figures are marked; the original filing is the authoritative source.

Ameriprise Financial (AMP) reported a record fourth quarter and full-year 2025 in its January 29, 2026 earnings release.

Q4 2025 adjusted operating EPS rose 16% to a record $10.83a on adjusted operating net revenues of $4.9 billion (up 10%) and a 27% pretax adjusted operating margin. GAAP EPS was $10.47, down 1% from $10.58 a year earlier, mainly because of unfavorable market impacts on derivatives and market risk benefits in Q4 2025, versus favorable impacts in the prior-year quarter. For the full year, adjusted operating EPS grew 14% to $39.29 and GAAP EPS grew 10% to $36.28.

Growth was driven by the Advice & Wealth Management segment, where total client assets reached a record $1.2 trillionb, net flows were $13.3 billion (a 4.7% annualized rate), and pretax adjusted operating earnings rose 13% to a record $926 million. Asset Management pretax adjusted operating earnings rose 17% to $293 million, helped by strong performance fees and higher institutional revenue, while total assets under management, administration and advisement reached a record $1.7 trillion, up 11%. Retirement & Protection Solutions earnings fell 6% to $200 million, reflecting higher life claims and the timing of G&A expenses.

Capital return was strong. Ameriprise returned $1.1 billionc to shareholders in Q4 (101% of adjusted operating earnings) and $3.4 billion for the full year (88%). The company reported adjusted operating ROE excluding AOCI of 53.2% on a trailing basis.

Investors should note that GAAP results were volatile, and that Q4 general and administrative expenses rose 5%d on a GAAP basis. The release is unaudited, and the company notes that figures may be revised in its Form 10-K.

02—Key points

Key Highlights

  1. Record Q4 2025 adjusted operating EPS of $10.83, up 16% year over year; full-year adjusted operating EPS of $39.29, up 14%.
  2. GAAP EPS of $10.47 in Q4 2025 was down 1% year over year, pressured by unfavorable market impacts on derivatives and market risk benefits; full-year GAAP EPS rose 10% to $36.28.
  3. Total assets under management, administration and advisement reached a record $1.7 trillion, up 11%, with Advice & Wealth Management client assets at a record $1.2 trillion.
  4. Advice & Wealth Management pretax adjusted operating earnings rose 13% to a record $926 million, with a 29.3% margin and $13.3 billion in client net flows.
  5. Asset Management pretax adjusted operating earnings rose 17% to $293 million, supported by higher performance fees, though institutional net outflows narrowed to $0.9 billion.
  6. Capital return totaled $1.1 billion in Q4 (101% of adjusted operating earnings) and $3.4 billion for FY2025 (88%), with diluted shares down 5% year over year.
  7. Retirement & Protection Solutions pretax adjusted operating earnings fell 6% to $200 million due to higher life claims and G&A timing.

03—Questions

Frequently Asked Questions

  1. What drove the difference between Ameriprise's strong adjusted results and its more modest GAAP results in Q4 2025?

    GAAP results were affected by unfavorable market impacts on the valuation of derivatives and market risk benefits in Q4 2025, whereas the prior-year quarter had favorable impacts. Adjusted operating earnings exclude these market-driven and other items, so they show a 16% increase in EPS while GAAP EPS fell 1%.

  2. How much capital did Ameriprise return to shareholders, and is it sustainable?

    The company returned $1.1 billion in Q4 2025 (101% of adjusted operating earnings) and $3.4 billion for the full year (88%). Management cites substantial free cash flow generation, significant excess capital, and holding company liquidity as support. Q4 share repurchases were $897 million, and total common shares outstanding fell 5% year over year to 91.3 million.

  3. What are the main growth drivers in the Advice & Wealth Management segment?

    Growth came from asset appreciation and strong client flows: total client assets rose 13% to $1.2 trillion and wrap assets rose 17% to $670 billion, with $12.1 billion of wrap net inflows. Adjusted operating net revenue per advisor (TTM) rose 8% to $1.1 million, and 91 experienced advisors joined the firm in the quarter.

  4. Are there any areas of weakness investors should watch?

    Retirement & Protection Solutions pretax earnings fell 6% to $200 million, due to higher life claims and G&A timing. Asset Management retail net AUM flows fell 46% to $3.1 billion, and legacy insurance partner outflows widened to $1.4 billion. Adjusted operating G&A rose 6% in the AWM segment and 13% in Asset Management, partly due to performance-fee compensation.

04—Continue

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