Ameriprise Financial, Inc.
Ameriprise Financial Reports Q3 2024 Financial Results
Summary
Ameriprise Financial, Inc. announced its third-quarter 2024 financial results, showing adjusted operating earnings per diluted share increased by 17% to $9.02, excluding unlocking and severance expenses related to efficiency initiatives. The company's GAAP net income per diluted share was $5.00, down from $8.14 a year ago, primarily due to market impacts on derivatives and market risk benefits. Assets under management and administration reached $1.5 trillion, up 22% due to strong client net inflows and market appreciation. Adjusted operating net revenues increased by 11%, driven by organic growth, strong equity markets, and higher spread revenues. Despite the challenges, the company returned $713 million to shareholders, demonstrating its balance sheet strength and free cash flow generation.
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About Ameriprise Financial, Inc.
Ameriprise Financial, Inc. is a diversified financial services company that provides a wide array of financial products and services to its clients. Founded in 1894 and headquartered in Minneapolis, Minnesota, Ameriprise is renowned for its comprehensive financial planning, asset management, and insurance services. The company specializes in financial planning services tailored to individual client needs, including retirement, investment, and wealth management strategies. Ameriprise operates through several segments, including Advice & Wealth Management, Asset Management, and Annuities and Protection. These segments allow the company to address different financial needs and objectives of clients ranging from individuals to institutions. With a robust network of financial advisors and a strong emphasis on personalized financial guidance, Ameriprise plays a pivotal role in helping clients achieve their financial aspirations. In the financial market, Ameriprise Financial is noted for its stability and the expertise it brings to comprehensive financial services. As a significant player in the financial planning and wealth management industry, the company influences trends and standards in how financial advice and asset management services are rendered, making it a cornerstone in the financial industry landscape.
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