Ameriprise Financial, Inc. · NYSE:AMP
Ameriprise Financial — Q4 2024 Earnings Presentation
20 slides from Ameriprise Financial's earnings presentation, Jan 30, 2025
Slide 1: Ameriprise Financial Fourth Quarter 2024 Conference Call
Ameriprise Financial Fourth Quarter 2024 Conference Call January 30, 2025 © 2025 Ameriprise Financial, Inc. All rights reserved.
Slide 2: Forward-looking statements
Forward-looking statements Some of the statements made in our January 29, 2025 earnings release and/or in this January 30, 2025 presentation constitute forward-looking statements. These statements reflect management's estimates, plans, beliefs and expectations, and speak only as of January 29, 2025.
Slide 3: Consolidated Results
Consolidated Results Quarter-Ended December 31, Year-To-Date December 31, GAAP 2024 2023 Better/(Worse) 2024 2023 Better/(Worse) Net Revenues ($M) $4,501 $3,992 13% $17,264 $15,535 11% Expenses ($M) $3,149 $3,498 10% $12,997 $12,301 (6)% Net Income ($M) $1,071 $377 NM $3,401 $2,556 33% Diluted EPS $
Slide 4: Q4 2024 Business & Financial Results
Q4 2024 Business & Financial Results Walter Berman Chief Financial Officer © 2025 Ameriprise Financial, Inc. All rights reserved. 4
Slide 5: Strong EPS growth of 23% demonstrates the strength and leverage with our business model
Strong EPS growth of 23%(1) demonstrates the strength and leverage with our business model Total Assets Under Adjusted Operating Management, Administration, Earnings Per • Strong operating fundamentals across our businesses and Advisement Diluted Share (1) supported by a solid balance sheet $ in tri
Slide 6: Strong underlying growth metrics are driving Wealth Management profitability
Strong underlying growth metrics are driving Wealth Management profitability Total Client Assets Total Wrap Flows TTM Revenue Per Advisor $ in billions $ in billions $ in thousands $1,029 $11.1 13% $1,037 $901 14% $455 59% $916 $413 $7.0 $574 $488 Q4 2023 Q4 2024 Q4 2023 Q4 2024 Q4 2023 Q4 2024 Wrap
Slide 7: Wealth Management delivered strong profitable growth with a 29% margin
Wealth Management delivered strong profitable growth with a 29% margin Adjusted Operating Pretax Adjusted • Revenue increased 18% to $2.8 billion from growth in client Total Net Revenue Operating Earnings assets and increased transactional activity $ in millions $ in millions • Total expenses contin
Slide 8: Asset Management delivered strong financial results with a 39% margin
Asset Management delivered strong financial results with a 39% margin • Total Assets Under Management and Advisement Pretax Adjusted increased 3% to $681 billion Adjusted Operating Total Net Revenue Operating Earnings $ in millions • Total net inflows were $1.3 billion, which included $ in millions
Slide 9: 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 5% to $213 million in the quarter and 3% to $816 million(1) for the $ in millions full year – Highe
Slide 10: Created significant shareholder value through differentiated capital return
Created significant shareholder value through differentiated capital return • Strong balance sheet fundamentals and capital management Returned 78% of Earnings to Shareholders in 2024 – Holding company available liquidity of $2.1 billion $3.6 ($ in billions) – Excess capital position of $2 billion –
Slide 11: Ameriprise continues to outperform financial targets
Ameriprise continues to outperform financial targets One Year Performance (Full Year 2024 vs Full Year 2023) +300 bps $2.8 billion +11% +17% Increase in Capital Revenue EPS Return on Returned to Growth(1) Growth(2) Equity, ex. Shareholders AOCI(1) Five Year Performance (2024 vs 2019) +1,430 bps $12.
Slide 12: Reconciliation Tables
Reconciliation Tables © 2025 Ameriprise Financial, Inc. All rights reserved. 12
Slide 13: Reconciliation tables
Reconciliation tables Adjusted Operating Earnings Per Diluted Share Per Diluted Share Quarter Ended Quarter Ended December 31, December 31, % Better/ % Better/ (in millions, except per share amounts, unaudited) 2024 2023 (Worse) 2024 2023 (Worse) Net income $ 1,071 $ 377 NM $ 10.58 $ 3.57 NM Adjustm
Slide 14: Reconciliation tables
Reconciliation tables Pretax Adjusted Operating Earnings Quarter Ended December 31, % Better/ (in millions, unaudited) 2024 2023 (Worse) Total net revenues $ 4,501 $ 3,992 13% Adjustments: Net realized investment gains (losses) (12) — Market impact on non-traditional long-duration products (3) (2) C
Slide 15: Reconciliation tables
Reconciliation tables Advice & Wealth Management General and Administrative Expense Year-to-date December 31, % Better/ (in millions, unaudited) 2024 2023 (Worse) Total G&A Expense $ 1,686 $ 1,652 (2)% Less: Regulatory accrual — 50 Total G&A Expense excluding accrual for regulatory matter $ 1,686 $
Slide 16: Reconciliation tables
Reconciliation tables Asset Management General and Administrative Expense Year-to-date Quarter Ended December 31, December 31, % Better/ % Better/ (in millions, unaudited) 2024 2023 (Worse) 2024 2023 (Worse) Asset Management general and administrative expense $ 422 $ 419 (1)% $ 1,592 $ 1,620 2% Less
Slide 17: Adjusted Operating Earnings Per Diluted Share
Reconciliation tables Adjusted Operating Earnings Per Diluted Share Trailing Twelve Months Per Diluted Share Trailing ending December 31, Twelve Months December % Better/ 31, % Better/ (in millions, except per share amounts, unaudited) 2024 2023 (Worse) 2024 2023 (Worse) Total net revenues $ 17,264
Slide 18: Adjusted Operating Earnings Per Diluted Share
Reconciliation tables Adjusted Operating Earnings Per Diluted Share Trailing Twelve Months ending Per Diluted Share Trailing December 31, Twelve Months December 31, (in millions, except per share amounts, unaudited) 2024 2019 CAGR 2024 2019 CAGR Total net revenues $ 17,264 $ 12,967 Adjustments: Net
Slide 19: Reconciliation tables
Reconciliation tables Retirement & Protection Solutions and LTC Adjusted Operating Earnings Year-to-date Year-to-date December December 31, 31, 2024 (in millions, unaudited) RPS Segment LTC % Better/ 2024 2023 (Worse) Pretax adjusted operating earnings $ 726 $ 685 $ 58 Unlocking (90) (104) (4) Preta
Slide 20: Reconciliation tables
Reconciliation tables Return on Equity (ROE) Excluding Accumulated Other Comprehensive Income “AOCI” Twelve Months Ended December 31, (in millions, unaudited) 2024 2023 2019 Net income $ 3,401 $ 2,556 $ 1,893 Less: Adjustments (1) (134) (555) (297) Adjusted operating earnings 3,535 3,111 2,190 Less: