Ameriprise Financial, Inc. · NYSE:AMP
Ameriprise Financial — Q2 2025 Earnings Presentation
19 slides from Ameriprise Financial's earnings presentation, Jul 24, 2025
Slide 1: Ameriprise Financial Second Quarter 2025 Conference Call
Ameriprise Financial Second Quarter 2025 Conference Call July 24, 2025 © 2025 Ameriprise Financial, Inc. All rights reserved.
Slide 2: Forward-looking statements
Forward-looking statements Some of the statements made in our July 24, 2025 earnings release and/or in this presentation constitute forward-looking statements. These statements reflect management's estimates, plans, beliefs and expectations, and speak only as of July 24, 2025. These forward-looking
Slide 3: Consolidated Results
Consolidated Results GAAP 2 Qtr 2025 2 Qtr 2024 Better/(Worse) Net Revenues ($M) $4,375 $4,220 4% Expenses ($M) $3,024 $3,169 5% Net Income ($M) $1,060 $829 28% Diluted EPS $10.73 $8.02 34% Return on Equity, ex. AOCI (1) 45.8% 45.9% (10) bps Adjusted Operating 2 Qtr 2025 2 Qtr 2024 Better/(Worse) Ne
Slide 4: Q2 2025 Business & Financial Results
Q2 2025 Business & Financial Results Walter Berman Chief Financial Officer © 2025 Ameriprise Financial, Inc. All rights reserved. 4
Slide 5: Ameriprise delivered solid performance in a volatile environment
Ameriprise delivered solid performance in a volatile environment • Adjusted operating earnings per diluted share up 7% to $9.11 with a strong margin of 27 percent ◦ Earnings were solid and in line with expectations. Results reflected the impact from market volatility on fee-based earnings and activi
Slide 6: Solid EPS growth of 7% considering the volatility within the quarter
Solid EPS growth of 7% considering the volatility within the quarter Total Assets Under Adjusted Operating Management, Administration Earnings Per and Advisement Diluted Share • Total assets under management, administration and $ in trillions advisement increased to a record high of $1.6 trillion 7%
Slide 7: Wealth Management metrics were solid over the past year, with wrap flows impacted in the quarter
Wealth Management metrics were solid over the past year, with wrap flows impacted in the quarter Total Client Assets Total Wrap Flows TTM Revenue Per Advisor $ in billions $ in billions $ in thousands Total Wrap Assets 6% Annualized Flow Rate increased 15% to $615 billion in both 2024 and 2025 on a
Slide 8: Wealth Management delivered best-in-class 29% margin
Wealth Management delivered best-in-class 29% margin • Revenue increased 6% to $2.8 billion from strong cumulative wrap flows Pretax Adjusted and higher markets year-over year, despite the previously mentioned Adjusted Operating unfavorable impacts from markets within the quarter and the federal fun
Slide 9: Asset Management generated strong financial results with a 39% margin
Asset Management generated strong financial results with a 39% margin Adjusted Operating Pretax Adjusted • Total Assets Under Management and Advisement Total Net Revenue Operating Earnings increased to $690 billion $ in millions $ in millions 2% • Net outflows were $8.7 billion (2)% $218 $222 $848 $
Slide 10: Retirement & Protection Solutions: consistent earnings and free cash flow generation
Retirement & Protection Solutions: consistent earnings and free cash flow generation Pretax Adjusted • Retirement & Protection Solutions pretax adjusted operating earnings Operating Earnings increased 9% to $214 million, reflecting favorable life claims, stronger $ in millions interest earnings and
Slide 11: Created significant shareholder value through differentiated capital return
Created significant shareholder value through differentiated capital return • Strong balance sheet fundamentals and capital management Returned 81% of Earnings to Shareholders – Holding company available liquidity of $2.1 billion Over Trailing 12 Months Through 6-30-25 – Excess capital position of $
Slide 12: Ameriprise continues to outperform financial targets
Ameriprise continues to outperform financial targets and has a proven track record of navigating uncertain and volatile markets One Year Performance (TTM Q2 2025 vs TTM Q2 2024) +240 bps $3.0 billion +8% +13% Increase in Capital Revenue EPS Return on Returned to Growth (1) Growth (2) Equity, ex. Sha
Slide 13: Reconciliation Tables
Reconciliation Tables © 2025 Ameriprise Financial, Inc. All rights reserved. 13
Slide 14: Reconciliation tables
Reconciliation tables Adjusted Operating Earnings Per Diluted Share Per Diluted Share Quarter Ended Quarter Ended June 30, June 30, % Better/ % Better/ (in millions, except per share amounts, unaudited) 2025 2024 (Worse) 2025 2024 (Worse) Net income $ 1,060 $ 829 28% $ 10.73 $ 8.02 34% Adjustments:
Slide 15: Reconciliation tables
Reconciliation tables Pretax Adjusted Operating Earnings Quarter Ended June 30, % Better/ (in millions, unaudited) 2025 2024 (Worse) Total net revenues $ 4,375 $ 4,220 4% Adjustments: Net realized investment gains (losses) (18) (3) Market impact on non-traditional long-duration products 4 (1) Mean R
Slide 16: Reconciliation tables
Reconciliation tables Asset Management Net Pretax Adjusted Operating Margin Quarter Ended June 30, (in millions, unaudited) 2 Qtr 2025 2 Qtr 2024 Adjusted operating total net revenues $ 830 $ 848 Distribution pass through revenues (190) (192) Subadvisory and other pass through revenues (99) (98) Net
Slide 17: Adjusted Operating Earnings Per Diluted Share
Reconciliation tables Adjusted Operating Earnings Per Diluted Share Trailing Twelve Months Per Diluted Share Trailing ending June 30, % Better/ Twelve Months June 30, % Better/ (in millions, except per share amounts, unaudited) 2025 2024 (Worse) 2025 2024 (Worse) Total net revenues $ 17,627 $ 16,283
Slide 18: Adjusted Operating Earnings Per Diluted Share
Reconciliation tables Adjusted Operating Earnings Per Diluted Share Trailing Twelve Months Per Diluted Share Trailing ending June 30, Twelve Months June 30, (in millions, except per share amounts, unaudited) 2025 2020 CAGR 2025 2020 CAGR Total net revenues $ 17,627 $ 12,317 Adjustments: Net realized
Slide 19: Return on Equity (ROE) Excluding AOCI
Reconciliation tables Return on Equity (ROE) Excluding Accumulated Other Comprehensive Income “AOCI” Twelve Months Ended June 30, (in millions, unaudited) 2025 2024 2020 Net income $ 3,225 $ 3,068 $ 2,503 Less: Adjustments (1) (400) (198) 371 Adjusted operating earnings 3,625 3,266 2,132 Less: Annua