The full team at Kuttin Wealth ManagementCourtesy of Kuttin Wealth ManagementTeam Name: Kuttin Wealth ManagementFirm: Ameriprise Financial AMP ServicesSenior Members: John Kuttin, Jacob Dunlap, Evan Branfman, Aaron Schenkman, Eric SzczurowskiLocation: Hauppauge, NYTeam Custodied Assets: $5.7 billionBackground: 51-year-old John Kuttin has spent his entire career at Ameriprise Financial Services, having started in 1994 when the firm was called IDS Financial Services. Over the years he built up a large team—to ...

MINNEAPOLIS--(BUSINESS WIRE)--Financial advisor Bruce Kunkle MBA, CFP®, RICP®, recently joined the branch channel of Ameriprise Financial, Inc. (NYSE: AMP) from Wells Fargo with over $100 million in assets in Conshohocken, Pennsylvania. Kunkle joined Ameriprise for comprehensive financial solutions and growth opportunities. “As a Certified Financial Planner, I was impressed by the firm’s focus on comprehensive planning and the resources to help advisors foster meaningful client relationships,” said Kunkl ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from_______________________to_______________________ Commission File No. 1-32525 AMERIPRISE FINANCIAL, INC. (Exact name of registrant as specified in its charter) Delaware ...

Financial Data and Key Metrics Changes - Ameriprise reported strong third quarter earnings with adjusted operating net revenue growing 10% to $3.9 billion and earnings up 18%, with EPS increasing by 24% [6][19] - Assets under management and administration reached $1.2 trillion, up 12% year-over-year [6][19] - Return on equity was 49.9%, compared to 48% a year ago, indicating strong financial performance [7] Business Line Data and Key Metrics Changes - Wealth Management client assets increased 15% to $816 billion, driven by strong client net flows of $8.9 billion and market appreciation [7][22] - Retirement and Protection solutions saw life and health sales increase by 22%, with variable annuity sales growing 18% [12][28] - Asset Management total assets under management increased 7% to $587 billion, despite facing net outflows [14][26] Market Data and Key Metrics Changes - Economic growth in the U.S. remains stable, but consumer sentiment is declining, leading to potential soft economic growth in the future [6] - Equity markets were up year-over-year but down slightly in the quarter, with many investors holding higher levels of cash [6][19] Company Strategy and Development Direction - The company is focused on leveraging its complementary businesses to drive growth and maintain strong financial results [17] - Ameriprise is examining its entire expense base to prepare for potential economic slowdowns in 2024 [17] - The re-entry into the banking business is seen as beneficial, with plans to launch new products to attract client cash from other institutions [8][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustaining client flow rates despite a slight moderation in growth [34] - The company is optimistic about the potential for cash redeployment into investment products as market conditions stabilize [53] - Management acknowledged the challenges in the asset management space but highlighted strong investment performance and margin resilience [14][27] Other Important Information - The company returned $663 million to shareholders, representing 81% of operating earnings, showcasing strong capital return capabilities [20] - Ameriprise's adviser productivity increased by 10% to a new high of $901,000 per adviser [10][22] Q&A Session Summary Question: Update on organic growth within wealth management - Management remains confident in sustaining mid-single-digit flow rates and sees opportunities for growth with the onboarding of Comerica [34][35] Question: Asset Management margins outlook - Management noted stable fee levels and is beginning expense tightening to maintain margins in the face of flow headwinds [36][37] Question: Update on recruiting and financial advisor headcount - Recruiting was slower in Q3 but showed signs of recovery in September, with a strong pipeline expected to support future growth [46] Question: Client cash balances and growth potential - Management indicated that cash balances have stabilized and there is room for growth in the bank products as market conditions improve [40][41] Question: Long-term care business risk management - Management expressed confidence in managing long-term care risks effectively and indicated a preference to retain the business unless a compelling offer arises [67][68]

Ameriprise Financial Third Quarter 2023 Conference Call October 26, 2023 © 2023 Ameriprise Financial, Inc. All rights reserved. Forward-looking statements ...

Part I [Financial Statements (Unaudited)](index=3&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) Unaudited financial statements as of June 30, 2023, show $890 million net income and $169.8 billion total assets, reflecting a new accounting standard adoption [Consolidated Statements of Operations](index=4&type=section&id=Consolidated%20Statements%20of%20Operations) Consolidated Statements of Operations Highlights (in millions, except per share data) | Metric | Three Months Ended June 30, 2023 | Three Months Ended June 30, 2022 | Six Months Ended June 30, 2023 | Six Months Ended June 30, 2022 | | :--- | :--- | :--- | :--- | :--- | | **Total net revenues** | $3,876 | $3,486 | $7,618 | $7,111 | | **Pretax income** | $1,127 | $773 | $1,623 | $1,779 | | **Net income** | $890 | $614 | $1,307 | $1,439 | | **Diluted EPS** | $8.21 | $5.37 | $11.97 | $12.48 | [Consolidated Statements of Comprehensive Income](index=5&type=section&id=Consolidated%20Statements%20of%20Comprehensive%20Income) Consolidated Statements of Comprehensive Income Highlights (in millions) | Metric | Three Months Ended June 30, 2023 | Three Months Ended June 30, 2022 | Six Months Ended June 30, 2023 | Six Months Ended June 30, 2022 | | :--- | :--- | :--- | :--- | :--- | | **Net income** | $890 | $614 | $1,307 | $1,439 | | **Other comprehensive income (loss)** | $(364) | $(506) | $197 | $(1,106) | | **Total comprehensive income (loss)** | $526 | $108 | $1,504 | $333 | [Consolidated Balance Sheets](index=5&type=section&id=Consolidated%20Balance%20Sheets) Consolidated Balance Sheet Highlights (in millions) | Metric | June 30, 2023 | December 31, 2022 | | :--- | :--- | :--- | | **Total assets** | $169,781 | $158,852 | | Investments | $51,376 | $44,524 | | Separate account assets | $76,874 | $73,962 | | **Total liabilities** | $165,701 | $155,049 | | Customer deposits | $35,578 | $30,775 | | **Total equity** | $4,080 | $3,803 | [Consolidated Statements of Equity](index=6&type=section&id=Consolidated%20Statements%20of%20Equity) - For the six months ended June 30, 2023, total equity increased from **$3.80 billion** to **$4.08 billion**, driven by **$1.31 billion** in net income and **$197 million** in other comprehensive income, offset by **$1.16 billion** in common share repurchases and **$284 million** in dividends[19](index=19&type=chunk) [Consolidated Statements of Cash Flows](index=7&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Consolidated Statements of Cash Flows Highlights (in millions) | Cash Flow Activity | Six Months Ended June 30, 2023 | Six Months Ended June 30, 2022 | | :--- | :--- | :--- | | Net cash provided by operating activities | $1,617 | $1,818 | | Net cash used in investing activities | $(6,020) | $(4,592) | | Net cash provided by financing activities | $4,352 | $2,607 | [Notes to Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) - The company adopted the new accounting standard for Long-Duration Contracts (ASU 2018-12) on January 1, 2023, with a transition date of January 1, 2021, resulting in a restatement of prior periods and a **$1.9 billion** reduction in total equity as of the transition date[25](index=25&type=chunk)[39](index=39&type=chunk) Impact of ASU 2018-12 Adoption on Equity (in millions) | Date | Retained Earnings Adjustment | AOCI Adjustment | Total Equity Adjustment | | :--- | :--- | :--- | :--- | | **Jan 1, 2021** | $(900) | $(1,000) | $(1,900) | | **Dec 31, 2022** | $387 | $(197) | $190 | [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=80&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes Q2 2023 pretax income growth to rising interest rates and product growth, while maintaining targets of 12-15% adjusted EPS growth and over 30% adjusted ROE, with AUM & AUA reaching $1.3 trillion - The company's financial targets are **12% to 15% growth** in adjusted operating earnings per diluted share and an adjusted operating return on equity of **over 30%**[298](index=298&type=chunk) Reconciliation of GAAP to Adjusted Operating Earnings (Q2 2023 vs Q2 2022) | Metric (in millions, except per share) | Q2 2023 | Q2 2022 | | :--- | :--- | :--- | | **Net Income** | $890 | $614 | | **Adjusted Operating Earnings** | $807 | $654 | | **Diluted EPS** | $8.21 | $5.37 | | **Adjusted Operating Diluted EPS** | $7.44 | $5.72 | - Total Assets Under Management and Administration (AUM & AUA) increased by **9%** to **$1.277 trillion** as of June 30, 2023, compared to **$1.170 trillion** a year prior, driven by market appreciation and net inflows in the Advice & Wealth Management segment[313](index=313&type=chunk) [Consolidated Results of Operations](index=110&type=section&id=Consolidated%20Results%20of%20Operations) - For Q2 2023, pretax income rose **46% YoY** to **$1.13 billion**, driven by higher net investment income from rising interest rates and growth in bank and certificate products, alongside a favorable market impact on non-traditional long-duration products[315](index=315&type=chunk) - Net investment income surged by **$524 million** in Q2 2023 compared to Q2 2022, primarily due to growth in Ameriprise Bank deposits and certificate business, and the impact of rising interest rates on the investment portfolio[316](index=316&type=chunk) - For the six months ended June 30, 2023, pretax income decreased **9% YoY** to **$1.62 billion**, mainly due to an unfavorable market impact on non-traditional long-duration products and lower average equity markets compared to the prior year period[339](index=339&type=chunk) [Results of Operations by Segment](index=113&type=section&id=Results%20of%20Operations%20by%20Segment) - **Advice & Wealth Management:** Q2 2023 adjusted operating earnings increased **49% YoY** to **$731 million**, driven by higher short-term interest rates and growth in bank and certificate products, with pretax adjusted operating margin expanding significantly to **31.2%** from **23.9%**[323](index=323&type=chunk) - **Asset Management:** Q2 2023 adjusted operating earnings decreased **27% YoY** to **$162 million**, primarily due to the cumulative impact of net outflows and lower average fixed income markets[330](index=330&type=chunk) - **Retirement & Protection Solutions:** Q2 2023 adjusted operating earnings increased **13% YoY** to **$189 million**, driven by higher investment income from rising interest rates and portfolio repositioning[333](index=333&type=chunk) - **Corporate & Other:** The segment's adjusted operating loss was stable at **$60 million** in Q2 2023, with the Long-Term Care (LTC) insurance business reporting a pretax adjusted operating earning of **$1 million**, an improvement from a **$6 million** loss in the prior year period[336](index=336&type=chunk) [Liquidity and Capital Resources](index=131&type=section&id=Liquidity%20and%20Capital%20Resources) - As of June 30, 2023, the company had Available Capital for Capital Adequacy of **$5.0 billion** and maintained substantial liquidity with **$7.3 billion** in cash and cash equivalents (excluding CIEs and restricted cash)[363](index=363&type=chunk) - The parent company held **$895 million** in cash, cash equivalents, and unencumbered liquid securities as of June 30, 2023, with total estimated liquidity available to the parent company at **$2.1 billion**[363](index=363&type=chunk) - During the six months ended June 30, 2023, the company repurchased **3.2 million shares** for **$998 million** and paid **$284 million** in dividends, with an additional **$3.5 billion** authorized for share repurchases through September 2025 in July 2023[367](index=367&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=108&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's market risks include interest rate, equity price, foreign currency, and credit risk, with sensitivity analysis showing potential impacts on pretax income and a comprehensive hedging program in place Market Risk Sensitivity Analysis (as of June 30, 2023) | Scenario | Estimated Net Impact on Pretax Income (in millions) | | :--- | :--- | | **Equity Price Decline 10%** | $(303) | | **Interest Rate Increase 100 bps** | $559 | - The company is primarily exposed to changes in the British Pound related to its net investment in Threadneedle, which was approximately **£1.3 billion** as of June 30, 2023[393](index=393&type=chunk) [Controls and Procedures](index=113&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of June 30, 2023, with no material changes to internal control over financial reporting during the quarter - The Chief Executive Officer and Chief Financial Officer concluded that the company's disclosure controls and procedures were effective at a reasonable level of assurance as of June 30, 2023[397](index=397&type=chunk) - No changes were made to the internal control over financial reporting during the quarter that have materially affected, or are reasonably likely to materially affect, these controls[398](index=398&type=chunk) Part II. Other Information [Legal Proceedings](index=113&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in various legal proceedings and regulatory inquiries, establishing accrued liabilities for probable and estimable losses, noting elevated regulatory activity - The company is involved in legal proceedings and regulatory inquiries from entities like the SEC, FINRA, and the OCC, which is normal for a diversified financial services firm, and an accrued liability is established when a loss is probable and can be reasonably estimated[287](index=287&type=chunk) [Risk Factors](index=113&type=section&id=Item%201A.%20Risk%20Factors) No material changes have occurred in the risk factors previously disclosed in the 2022 10-K report - No material changes have occurred in the risk factors previously disclosed in the 2022 10-K report[400](index=400&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=114&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During Q2 2023, Ameriprise repurchased 1.6 million shares for $310.31 average, with $0.6 billion remaining for future repurchases Share Repurchases (Q2 2023) | Month | Total Shares Purchased (Program) | Average Price Paid Per Share | | :--- | :--- | :--- | | April 2023 | 299,040 | $307.09 | | May 2023 | 665,897 | $300.30 | | June 2023 | 619,091 | $322.64 | | **Q2 Total** | **1,584,028** | **$310.31** | - In July 2023, the Board of Directors authorized an additional **$3.5 billion** for share repurchases through September 30, 2025[403](index=403&type=chunk) [Other Information](index=114&type=section&id=Item%205.%20Other%20Information) No director or officer adopted, modified, or terminated a Rule 10b5-1 trading arrangement during Q2 2023 - No director or officer adopted, modified, or terminated a Rule 10b5-1 trading arrangement during the three months ended June 30, 2023[404](index=404&type=chunk)

Ameriprise Financial, Inc. (NYSE:AMP) Q2 2023 Earnings Conference Call July 27, 2023 9:00 AM ET Company Participants Alicia Charity - SVP, IR James Cracchiolo - Chairman & CEO Walter Berman - EVP, CFO & Chief Risk Officer Conference Call Participants Alexander Blostein - Goldman Sachs Group Brennan Hawken - UBS Erik Bass - Autonomous Research Michael Anagnostakis - Wolfe Research Jeffrey Schmitt - William Blair & Company Ryan Krueger - KBW Suneet Kamath - Jefferies Craig Siegenthaler - Bank of America Merri ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from_______________________to_______________________ Commission File No. 1-32525 AMERIPRISE FINANCIAL, INC. (Exact name of registrant as specified in its charter) Delaware 13- ...

Ameriprise Financial First Quarter 2023 Conference Call April 25, 2023 © 2023 Ameriprise Financial, Inc. All rights reserved. Forward-looking statements ...

Financial Data and Key Metrics Changes - Ameriprise reported revenues of $3.7 billion for Q1 2023, a 3% increase year-over-year, with pre-tax adjusted operating earnings up 20% and EPS up 25% to $7.25 [8][19] - Return on equity, excluding AOCI, was 50%, maintaining one of the best rates in the financial services sector [8][19] - Assets under management and administration (AUMA) ended at $1.2 trillion, down 8% from the previous year due to market depreciation and foreign exchange impacts [21][19] Business Line Data and Key Metrics Changes - Wealth Management earnings grew 58% year-over-year, representing 66% of the firm's adjusted operating earnings, up from 49% a year ago [19][8] - Retirement & Protection Solutions saw an 11% increase in earnings, driven by higher investment yields from portfolio repositioning [19][14] - Asset Management faced challenges with a 13% decline in assets under management to $608 billion, primarily due to market depreciation and negative foreign exchange impacts [15][27] Market Data and Key Metrics Changes - Client inflows in Wealth Management were robust, exceeding $12 billion in the quarter, an 18% increase year-over-year [9][22] - Total outflows in Asset Management were $1.7 billion, with U.S. retail experiencing net outflows due to market volatility [15][27] - The firm reported strong growth in institutional inflows of $2.8 billion, driven by fixed income and real estate [15][16] Company Strategy and Development Direction - Ameriprise focuses on diversifying its business model, with Wealth Management as a key driver, complemented by Retirement & Protection Solutions and Asset Management [7][19] - The company is expanding its banking operations, having grown deposits to $20 billion and launched new savings products to attract client cash [11][12] - The firm aims to enhance its client and advisor value propositions, evidenced by high client satisfaction ratings and advisor retention [10][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating environmental uncertainties and highlighted the stability of their deposit base and investment portfolio [6][7] - The firm anticipates continued strong client flows and engagement, supported by new technology and tools for advisors [10][44] - Management remains optimistic about future growth opportunities, particularly in Wealth Management and the banking sector [17][19] Other Important Information - Ameriprise returned $641 million to shareholders in the quarter, marking an 80% return of operating earnings [17][20] - The company has been recognized for its customer service and trustworthiness, receiving multiple awards in 2023 [12][13] Q&A Session Summary Question: Outlook for net interest income (NII) and cash management - Management confirmed that the current level of NII can be maintained, with opportunities to shift more funds into the bank for higher profitability [34][35] Question: Update on the Comerica partnership and asset transfer - The partnership is expected to bring approximately $18 billion in assets, with a mix of various asset types [50][51] Question: Advisor recruitment and retention amid market conditions - Management reported strong advisor retention rates and a good pipeline for recruiting new advisors, emphasizing the firm's stability [47][48] Question: Expectations for cash balances and deployment - Management indicated that while cash balances are stable, there is potential for increased deployment into market investments as volatility settles [70][72]