{"id":725862,"date":"2023-01-25T16:13:46","date_gmt":"2023-01-25T21:13:46","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/ameriprise-financial-reports-fourth-quarter-2022-results\/"},"modified":"2023-01-25T16:13:46","modified_gmt":"2023-01-25T21:13:46","slug":"ameriprise-financial-reports-fourth-quarter-2022-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/ameriprise-financial-reports-fourth-quarter-2022-results\/","title":{"rendered":"Ameriprise Financial Reports Fourth Quarter 2022 Results"},"content":{"rendered":"

<\/p>\n

Ameriprise Financial Reports Fourth Quarter 2022 Results<\/b><\/p>\n

MINNEAPOLIS–(BUSINESS WIRE<\/a>)–
\nAmeriprise Financial, Inc. (NYSE: AMP):\n<\/p>\n\n\n\n\n\n\n
\n\n

\nEarnings Per Diluted Share\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\nReturn on Equity, ex AOCI (1)<\/sup><\/p>\n<\/td>\n

<\/tr>\n
\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

Q4 2022<\/span><\/p>\n<\/td>\n

\n

FY 2022<\/span><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

2022<\/span><\/p>\n<\/td>\n

<\/tr>\n
\n\n

\nGAAP\n<\/p>\n<\/td>\n

\n

\n$4.43\n<\/p>\n<\/td>\n

\n

\n$22.51\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\nGAAP\n<\/p>\n<\/td>\n

\n

\n43.1%\n<\/p>\n<\/td>\n

<\/tr>\n
\n\n

\nAdjusted Operating\n<\/p>\n<\/td>\n

\n

\n$6.94\n<\/p>\n<\/td>\n

\n

\n$23.96\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\nAdjusted Operating\n<\/p>\n<\/td>\n

\n

\n45.9%\n<\/p>\n<\/td>\n

<\/tr>\n
\n\n

\nAdjusted Operating, Ex. Unlocking (2)<\/sup><\/p>\n<\/td>\n

\n

\n$6.94\n<\/p>\n<\/td>\n

\n

\n$25.14\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\nAdjusted Operating, Ex. Unlocking (2)<\/sup><\/p>\n<\/td>\n

\n

\n48.1%\n<\/p>\n<\/td>\n

<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
    \n
  • \nFourth quarter adjusted operating earnings per diluted share was $6.94, up 13 percent from the prior year period driven by strong business performance and capital return to shareholders. Full year adjusted operating earnings per diluted share excluding unlocking increased 11 percent to $25.14.\n<\/li>\n<\/ul>\n<\/td>\n
\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

Perspective from Jim Cracchiolo, Chairman and Chief Executive Officer<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u201cAmeriprise delivered excellent results in the quarter with operating EPS up 13 percent, capping off a strong year, with full year operating EPS(4)<\/sup> up 11 percent, reaching a new high of $25.14.\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u201cWe achieved record results in 2022 that demonstrate the strength, diversification and capabilities of our business. Wealth Management client flows for the year hit a new high reflecting our proven, advice-based client experience and broad suite of solutions. In addition, we are seeing strong growth across our cash offerings including at the bank \u2013 a significant benefit in this rising interest rate environment.\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u201cOur Retirement and Protection Solutions business also benefited from increased spread revenue and had a good quarter. And while our Asset Management business was impacted by the industry-wide pressure from lower markets and volatility, we remained focused on executing our strategic priorities, including the integration of the BMO EMEA business.\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u201cCapital management is a differentiator for Ameriprise. As we grow, we consistently generate significant free cash flow across our business that we reinvest in the business and return to shareholders. In 2022, we returned approximately 85 percent of earnings to shareholders, including devoting $1.9 billion to share repurchases and a double digit increase in our dividend.\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u201cAmeriprise is well-positioned to build on our momentum in 2023.\u201d\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n
    \n
  • \nFourth quarter GAAP net income per diluted share was $4.43 compared to $5.96 a year ago, primarily reflecting market impacts on the valuation of derivatives. Full year GAAP net income per diluted share decreased 2 percent to $22.51.\n<\/li>\n<\/ul>\n<\/td>\n
\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n
    \n
  • \nPretax adjusted operating earnings reached a new high of $973 million, up 9 percent, from excellent growth in the Wealth Management business. The Advice and Wealth Management margin reached a new record high of 30 percent.\n<\/li>\n<\/ul>\n<\/td>\n
\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n
    \n
  • \nAdjusted operating net revenues of $3.6 billion declined only 2 percent in the quarter, as excellent growth in Wealth Management largely offset a reduction in Asset Management fees from market depreciation.\n<\/li>\n<\/ul>\n<\/td>\n
\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n
    \n
  • \nAdvice & Wealth Management total client flows were $12.4 billion in the quarter, reaching a record high of $42.5 billion for the year, and Ameriprise Bank and Certificate Company assets grew to $29 billion.\n<\/li>\n<\/ul>\n<\/td>\n
\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n
    \n
  • \nInvestment performance at Columbia Threadneedle Investments remained strong in a volatile market environment with 131 funds with 4- and 5-star Morningstar ratings.\n<\/li>\n<\/ul>\n<\/td>\n
\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n
    \n
  • \nThe company returned $610 million of capital to shareholders in the quarter and $2.4 billion for the full year driven by strong balance sheet fundamentals and significant free cash flow generation.\n<\/li>\n<\/ul>\n<\/td>\n
\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n
    \n
  • \nFor the fourth consecutive year, Ameriprise was recognized by J.D. Power for providing \u201can outstanding customer service experience\u201d for phone support for advisors.(3)<\/sup><\/li>\n<\/ul>\n<\/td>\n
\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

(1)<\/sup> Return on equity excluding AOCI is calculated on a trailing 12-month basis.\n<\/p>\n<\/td>\n<\/tr>\n

\n

(2)<\/sup> Unlocking impacts reflect the company\u2019s annual review of insurance and annuity valuation assumptions and model changes, and the Long Term Care (LTC) gross premium valuation.\n<\/p>\n<\/td>\n<\/tr>\n

\n

(3)<\/sup> J.D. Power 2022 Certified Customer Service ProgramSM<\/sup> recognition is based on successful completion of an evaluation and exceeding a customer satisfaction benchmark through a survey of recent servicing interactions. For more information, visit http:\/\/www.jdpower.com\/ccc<\/a>.\n<\/p>\n<\/td>\n<\/tr>\n

\n

(4)<\/sup> Excluding unlocking.\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

Ameriprise Financial, Inc.<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

Fourth Quarter Summary<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

Quarter Ended
\n
December 31,<\/b><\/p>\n<\/td>\n

\n

% Over\/<\/b><\/p>\n

(Under)<\/b><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

Year-to-date
\n
December 31,<\/b><\/p>\n<\/td>\n

\n

% Over\/<\/b><\/p>\n

(Under)<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\n(in millions, except per share amounts, unaudited)\n<\/p>\n<\/td>\n

\n

2022<\/b><\/p>\n<\/td>\n

\n\n

2021<\/b><\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

2022<\/b><\/p>\n<\/td>\n

\n\n

2021<\/b><\/p>\n<\/td>\n

<\/tr>\n
\n

\nGAAP net income\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n494\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n701\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(30)%\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n2,559\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n2,760\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(7)%\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nAdjusted operating earnings\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n773\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n723\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n7%\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n2,724\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n2,724\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n–\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nAdjusted operating earnings excluding unlocking (see reconciliation starting on p. 26)\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n773\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n723\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n7%\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n2,858\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n2,730\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n5%\n<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nGAAP net income per diluted share\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n4.43\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n5.96\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(26)%\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n22.51\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n23.00\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(2)%\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nAdjusted operating earnings per diluted share\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n6.94\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n6.15\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n13%\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n23.96\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n22.70\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n6%\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nAdjusted operating earnings per diluted share excluding unlocking (see reconciliation starting on p. 26)\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n6.94\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n6.15\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n13%\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n25.14\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n22.75\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n11%\n<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nGAAP Return on Equity, ex. AOCI\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n43.1\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n51.2\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n43.1\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n51.2\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nAdjusted Operating Return on Equity, ex. AOCI\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n45.9\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n50.6\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n45.9\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n50.6\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nAdjusted Operating Return on Equity, ex. AOCI and unlocking\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n48.1\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n50.7\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n48.1\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n50.7\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nWeighted average common shares outstanding:\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nBasic\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n108.9\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n114.6\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n111.3\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n117.3\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nDiluted\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n111.4\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n117.6\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n113.7\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n120.0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

\nCurrent quarter GAAP results after tax were impacted by the valuation of derivatives and included $12 million of integration costs from the acquisition of BMO EMEA. GAAP results in the prior year quarter were modestly impacted by the market changes that negatively affected credit spreads and the valuation of derivatives.\n<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

Ameriprise Financial, Inc.<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

Advice & Wealth Management Segment Adjusted Operating Results<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

Quarter Ended December 31,<\/b><\/p>\n<\/td>\n

\n\n

% Over\/<\/b><\/p>\n

(Under)<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\n(in millions, unaudited)\n<\/p>\n<\/td>\n

\n

2022<\/b><\/p>\n<\/td>\n

\n

2021<\/b><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nAdjusted operating net revenues\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n2,226\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n2,114\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n5%\n<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nDistribution expenses\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n1,153\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n1,275\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n10%\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nG&A \/ other expense\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n408\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n367\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n(11)%\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nAdjusted operating expenses\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n1,561\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n1,642\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n5%\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nPretax adjusted operating earnings\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n665\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n472\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n41%\n<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nPretax adjusted operating margin\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n29.9\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n22.3\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n\n

\n760 bps\n<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

Quarter Ended December 31,<\/b><\/p>\n<\/td>\n

\n\n

% Over\/<\/b><\/p>\n

(Under)<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\n(in billions, unless otherwise noted)\n<\/p>\n<\/td>\n

\n

2022<\/b><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

2021<\/b><\/p>\n<\/td>\n

<\/tr>\n
\n

\nTotal client assets\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n758\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n858\n<\/p>\n<\/td>\n

\n\n

\n(12)%\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nTotal client net flows (1)<\/sup><\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n12.4\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n12.5\n<\/p>\n<\/td>\n

\n\n

\n(1)%\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nWrap net flows (1)<\/sup><\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n6.2\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n10.5\n<\/p>\n<\/td>\n

\n\n

\n(41)%\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nAWM cash balances\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n47.2\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n43.8\n<\/p>\n<\/td>\n

\n\n

\n8%\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nAverage gross yield on cash balances (in bps)\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n373\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n62\n<\/p>\n<\/td>\n

\n\n

\n311 bps\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nAdjusted operating net revenue per advisor (TTM in thousands)\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n827\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n796\n<\/p>\n<\/td>\n

\n\n

\n4%\n<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

(1)<\/sup> See definition on page 12.\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

Advice & Wealth Management<\/b> pretax adjusted operating earnings increased 41 percent to $665 million, and the pretax adjusted operating margin reached a new record of 30 percent. This strong performance was a result of continued significant organic growth with flows into advisory and brokerage accounts. The strategy to expand Ameriprise Bank and Certificate Company drove 59 percent asset growth for these businesses. The advisor base continues to build with excellent advisor retention, strong recruiting and increased productivity.\n<\/p>\n

\nNet revenues increased 5 percent as client inflows, higher investment income from bank growth and rising interest rates more than offset lower fees related to market depreciation and lower client activity, consistent with industry trends.\n<\/p>\n

\nAdjusted operating expenses declined 5 percent to $1.6 billion compared to a year ago. Distribution expenses declined 10 percent primarily from lower markets. G&A and other expenses were $408 million, reflecting investments for business growth, including the bank, as well as higher volume-related activity from client inflows. Prior year G&A expenses included unusually low staffing levels and limited travel and entertainment expense. The company continues to manage expenses prudently.\n<\/p>\n

\nWealth Management delivered robust organic growth. Clients and advisors remained engaged and focused on positioning portfolios to meet financial planning goals in the face of a challenging market environment.\n<\/p>\n