Ameriprise Financial, Inc. · NYSE:AMP

Ameriprise Financial — Q1 2022 Earnings Presentation

19 slides from Ameriprise Financial's earnings presentation, Apr 26, 2022

  1. Slide 1: First Quarter 2022 Conference Call

    Ameriprise Financial First Quarter 2022 Conference Call April 26, 2022 © 2022 Ameriprise Financial, Inc. All rights reserved.

  2. Slide 2: Forward-looking statements

    Forward-looking statements Some of the statements made in our April 25, 2022 earnings release and/or in this April 26, 2022 presentation constitute forward-looking statements. These statements reflect management's estimates, plans, beliefs and expectations, and speak only as of April 26, 2022. These

  3. Slide 3: Consolidated First Quarter 2022 Results

    Consolidated First Quarter 2022 Results GAAP Q1 2022 Q1 2021 Over/(Under) Net Revenues ($M) $3,655 $3,350 9% Expenses ($M) $2,732 $2,857 4% Net Income ($M) $761 $437 74% Diluted EPS $6.55 $3.58 83% ROE, ex. AOCI (1) 55.9% (1.1)% NM Adjusted Operating Q1 2022 Q1 2021 Over/(Under) Net Revenues ($M) $3

  4. Slide 4: Q1 2022 Business & Financial Results

    Q1 2022 Business & Financial Results Walter Berman Chief Financial Officer © 2022 Ameriprise Financial, Inc. All rights reserved. 4

  5. Slide 5: EPS up 10% driven by continued strength in Wealth and Asset Management

    EPS up 10% driven by continued strength in Wealth and Asset Management • Ameriprise adjusted operating EPS was $5.98 compared to $5.43 last year Pretax Adjusted Operating Earnings1 • Wealth and Asset Management delivered strong organic and business growth, generating ~80%(1) of AMP pretax adjusted o

  6. Slide 6: Wealth and Asset Management continue to drive strong profitability for Ameriprise

    Wealth and Asset Management continue to drive strong profitability for Ameriprise Wealth and Asset Wealth and Asset Management Wealth and Asset Management Management Net Revenue Pretax Adjusted Pretax Adjusted $ in millions Operating Earnings Operating Margin(1) $ in millions 13% $3,059 80 18% $725

  7. Slide 7: Wealth Management continued its strong track record of profitable organic growth

    Wealth Management continued its strong track record of profitable organic growth Total Client Assets Total Client Flows TTM Revenue Per Advisor $ in billions $ in billions $ in thousands 8% $823 $10.4 $762 12% 18% $810 $9.3 $689 Q1 2021 Q1 2022 Q1 2021 Q1 2022 Q1 2021 Q1 2022 Calculated on a trailin

  8. Slide 8: Wealth Management had strong financial results despite volatile markets

    Wealth Management had strong financial results despite volatile markets • Revenue grew 9% year-over-year to $2 billion Adjusted Operating Pretax Adjusted – Robust client activity with $10 billion of net inflows and Total Net Revenue Operating Earnings increased bank profitability $ in millions $ in

  9. Slide 9: Asset Management maintained strong profitability despite market dislocation and industry headwinds

    Asset Management maintained strong profitability despite market dislocation and industry headwinds Total AUM Total Flows Adjusted Operating Margin $ in billions $ in billions $699 24% 43.9% (240) bps $4.9 41.5% $564 Q1 2021 Q1 2022 Q1 2021 Q1 2022 $(0.7) © 2022 Ameriprise Financial, Inc. All rights

  10. Slide 10: Strong 25% growth in Asset Management earnings

    Strong 25% growth in Asset Management earnings Adjusted Operating Pretax Adjusted • Revenue increased 23% reflecting the Total Net Revenue Operating Earnings cumulative benefit of net inflows and business $ in millions $ in millions growth, strong performance fees and market appreciation ◦ Underlyin

  11. Slide 11: Retirement & Protection Solutions performed well

    Retirement & Protection Solutions performed well Pretax Adjusted • Earnings were $191 million reflecting continued solid Operating Earnings performance $ in millions • Focus on non-guaranteed retirement and asset accumulation products sales – Sales of VUL products increased over 40%, now comprising

  12. Slide 12: Strong balance sheet and free cash flow generation support capital return commitment for 2022

    Strong balance sheet and free cash flow generation support 90% capital return commitment for 2022 Capital Returned to Shareholders • Strong balance sheet fundamentals and superior $ in millions capital strength $133 – Ongoing free cash flow generation of ~90% $131 – $1.6 billion of holding company a

  13. Slide 13: Reconciliation Tables

    Reconciliation Tables © 2022 Ameriprise Financial, Inc. All rights reserved. 13

  14. Slide 14: Reconciliation tables: Adjusted Operating Net Revenues & Expenses

    Reconciliation tables Adjusted Operating Net Revenues & Expenses Quarter Ended March 31, % Over / (in millions, unaudited) 2022 2021 (Under) Total net revenues $ 3,655 $ 3,350 9% Less: Net realized investment gains (losses) 17 57 Less: Market impact on non-traditional long-duration products 26 5 Les

  15. Slide 15: Reconciliation tables: Adjusted Operating Earnings Per Diluted Share

    Reconciliation tables Adjusted Operating Earnings Per Diluted Share Per Diluted Share Quarter Ended Quarter Ended March 31, March 31, % Over/ (in millions, except per share amounts, unaudited) 2022 2021 2022 2021 (Under) Net income $ 761 $ 437 $ 6.55 $ 3.58 83% Less: Net realized investment gains (l

  16. Slide 16: Reconciliation tables: Return on Equity Excluding AOCI

    Reconciliation tables Return on Equity (ROE) Excluding Accumulated Other Comprehensive Income “AOCI” Twelve Months Ended March 31, (in millions, unaudited) 2022 2021 Net income $ 3,084 $ (65) Less: Adjustments (1) 328 (1,804) Adjusted operating earnings $ 2,756 $ 1,739 Total Ameriprise Financial, In

  17. Slide 17: Reconciliation tables: Asset Management Net Pretax Adjusted Operating Margin

    Reconciliation tables Asset Management Net Pretax Adjusted Operating Margin Quarter Ended March 31, (in millions, except per share amounts, unaudited) 2022 2021 Adjusted operating total net revenues $ 1,017 $ 828 Distribution pass thru revenues (221) (217) Subadvisory and other pass thru revenues (1

  18. Slide 18: Reconciliation tables: Wealth and Asset Management Net Pretax Adjusted Operating Margin

    Reconciliation tables Wealth and Asset Management Net Pretax Adjusted Operating Margin Quarter Ended March 31, (in millions, except per share amounts, unaudited) 2022 2021 Advice & Wealth adjusted operating total net revenues $ 2,042 $ 1,879 Asset Management net adjusted operating revenues 692 524 W

  19. Slide 19: Reconciliation tables: Pretax Adjusted Operating Earnings Mix Shift

    Reconciliation tables Pretax Adjusted Operating Earnings Mix Shift Quarter Ended March 31, (in millions, unaudited) 2022 2021 Advice & Wealth Management $ 440 $ 389 Asset Management 285 228 RPS 191 183 Pretax adjusted operating earnings ex Corporate 916 800 Advice & Wealth Management 48 % 49 % Asset

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