Ameriprise Financial, Inc. is a US financial services company based in Minneapolis, Minnesota.
The company has a diversified portfolio of products, including: financial planning, asset management, wealth management, insurance services, estate planning, and retirement plans.
It advises, manages and protects the assets and income of more than 2 million individual, small business and institutional clients.
Ameriprise Financial, Inc. was created in 2005 after the the American Express Company spun off its former subsidiary “American Express Financial Advisors (AEFA)”.
AEFA became its own independent company and changed its name to Ameriprise Financial, Inc. It is publicly traded on the New York Stock Exchange (NYSE) under the stock ticker symbol ‘AMP’.
The company’s principal brands are:
Ameriprise Financial: the enterprise brand that provides retail products and services.
Columbia Management: U.S. asset management products and services.
Threadneedle: marketing asset management products and services outside of the US.
RiverSource: annuity and protection products.
Overview
- Chairman and CEO: James M. Cracchiolo
- CFO: Walter S. Berman
- Industry: Financial Services
- Type: Public
- Listed on the New York Stock Exchange (NYSE)
- NYSE stock symbol: AMP
- S&P 500 Component
- Revenue: $12.268 billion USD (2014)
- Net income: $2,000 million USD (2014)
- Diluted earnings per share: $8.30 USD (2014)
- Company head office: 1099 Ameriprise Financial Center, Minneapolis, Minnesota 55474
- Employees: 12,209 (2014)
- Website: https://www.ameriprise.com/
- Investor relations website: http://ir.ameriprise.com/
- Investor relations contact number: 612.671.2080
- Investor relations email: [email protected]
Ameriprise Financial, Inc. Financial Results, Years Ended December 31
| Revenues (in $ millions) | 2014 | 2013 |
| Management and financial advice fees | $5,810 | $5,253 |
| Distribution fees | $1,894 | $1,771 |
| Net investment income | $1,741 | $1,889 |
| Premiums | $1,385 | $1,282 |
| Other revenues | $1,466 | $1,035 |
| Total revenues | $12,296 | $11,230 |
| (Banking and deposit interest expense) | $28 | $31 |
| – Total net revenues | $12,268 | $11,199 |
| Operating Expenses (in $ millions) | ||
| Distribution expenses | $3,236 | $2,925 |
| Interest credited to fixed accounts | $713 | $806 |
| Benefits, claims, losses and settlement expenses | $1,982 | $1,954 |
| Amortization of deferred acquisition costs | $367 | $207 |
| Interest and debt expense | $328 | $281 |
| General and administrative expense | $3,095 | $3,056 |
| – Total expenses | $9,721 | $9,229 |
| Income Data (in $ millions) | ||
| Income from continuing operations before income tax provision | $2,547 | $1,970 |
| Income tax provision | $545 | $492 |
| Income from continuing operations | $2,002 | $1,478 |
| Loss from discontinued operations, net of tax | $(2) | $(3) |
| Net income | $2,000 | $1,475 |
| Net income (loss) attributable to non-controlling interests | $381 | $141 |
| – Net income attributable to Ameriprise Financial, Inc. | $1,619 | $1,334 |
| Balance sheet data (in $ millions) | ||
| Total assets | $148,810 | $144,576 |
| Long-term debt | $3,062 | $2,720 |
| Total liabilities | $139,505 | $135,344 |
| Total Ameriprise Financia, Inc. shareholders’ equity | $8,124 | $8,192 |
| Non-controlling interests | $1,181 | $1,040 |
| Total equity | $9,305 | $9,232 |
| Common share data (in $) | ||
| Basic earnings (loss) per common share | $8.45 | $6.56 |
| Diluted earnings (loss) per common share | $8.30 | $6.44 |
| Cash flow data (in $ millions) | ||
| Net cash provided by operating activities | $2,399 | $1,364 |
| Net cash provided by (used in) investing activities | $(715) | $(802) |
| Net cash used in financing activities | $(1,657) | $(306) |
| Cash and cash equivalents at beginning of year | $2,632 | $2,371 |
| Cash and cash equivalents at end of year | $2,638 | $2,632 |
Source: “Ameriprise Financial, Inc. Form 10-K 2014”