The company said pretax income for the 3 months ended September 30, 2024 decreased $472 million (42%) from the prior year period. The company cited the market impact on non-traditional long-duration products as the main factor, which was an expense of $402 million compared with a benefit of $211 million in the prior year period.

1. 01

   The company said pretax income for the 3 months ended September 30, 2024 decreased $472 million (42%) from the prior year period. The company cited the market impact on non-traditional long-duration products as the main factor, which was an expense of $402 million compared with a benefit of $211 million in the prior year period.

2. 02

   Ameriprise Financial said total AUM as of September 30, 2024 increased $201.5 billion (20%) from $990.4 billion a year earlier, to $1.2 trillion. It said total AUA rose $71.8 billion (30%) to $314.2 billion, and it attributed the increase to equity market appreciation.

3. 03

   Ameriprise said management and financial advice fees rose $286 million (13%) and distribution fees rose $50 million (11%) from the prior year period for Q3 2024. The company cited market appreciation and wrap account net inflows as drivers, and said they were partly offset by the cumulative impact of Asset Management net outflows.

4. 04

   The company said net cash provided by operating activities was $6.2 billion for the 9 months ended September 30, 2024 ($2.5 billion in the prior year period), and it paid $444 million in regular quarterly dividends. It repurchased 3.8 million shares at an average price of $426.72 over the same period, and the remaining repurchase authorization as of September 30 was $1.5 billion.

Key figures

Quarter ended September 30, 2024

Revenue

$4.6B

Net income

$511M

EPS

$5.00

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.