AMERIPRISE FINANCIAL INC (AMP)

Ameriprise Financial, Inc. is a Delaware holding company that operates mainly through its subsidiaries and has a history of more than 130 years. It is a diversified financial services firm and a long-standing leader in financial planning and advice. It offers a broad range of products and services to help individual and institutional clients meet their financial objectives, with a strategy built on holistic advice and on managing and protecting clients' assets and income. It pursues this through two go-to-market approaches, Wealth Management and Asset Management. As of December 31, 2025, it had $1.7 trillion in assets under management, administration and advisement.

Results are reported in four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other. Advice & Wealth Management provides financial planning and advice, full-service brokerage, managed accounts, and banking and cash management products. Examples include sweep programs, savings accounts, residential mortgages, credit cards, margin loans, and face-amount certificates through Ameriprise Certificate Company and Ameriprise Bank. It also distributes Columbia funds, mutual funds from about 130 unaffiliated fund families, ETFs, and insurance and annuities. Revenue is largely fee-based and driven by client assets. Asset Management, branded Columbia Threadneedle Investments, had $721 billion in managed and advised assets. Its products include U.S. registered funds, non-U.S. retail funds such as UCITS, OEICs and investment trusts, liability-driven investment funds, separately managed accounts, collateralized loan obligation management, private funds, collective investment trusts, and sub-advised accounts. Retirement & Protection Solutions, under the RiverSource brand, offers variable and structured variable annuities, variable universal, universal and term life insurance, and disability income insurance. In 2025, about 89% of individual life insurance sales were variable universal life.

The primary target market is households with $500,000 to $5,000,000 in investable assets, though the company also serves higher-net-worth households. It serves more than 3.5 million retail clients through a network of more than 10,000 financial advisors. These advisors work through four channels: the Franchise Group (the largest), the Advisor Group, the Personal Wealth Group, and the Financial Institutions Group, which supports advisors in third-party banks and credit unions. Columbia Threadneedle products go to retail, high net worth and institutional clients, primarily through third parties but also through the advisor network, direct retail, and an institutional sales force. RiverSource annuity and insurance products are sold exclusively through Ameriprise advisors for new business, and advisors also offer unaffiliated insurers' products. The asset management business has a presence in 16 key markets, including the U.S., U.K., France, Germany, Luxembourg, the Netherlands and Singapore.

Ameriprise supports its advisors with an integrated technology platform, training, leadership and marketing programs. It has grown organically and through acquisitions, including Threadneedle, H&R Block Financial Advisors, Columbia Management and, most recently, BMO's European-based asset management business. It also grows through advisor recruiting, practice acquisitions, advisor loans, and partnerships with banks and credit unions. Ameriprise Bank, FSB was converted from a national trust bank in 2019, and the company is a savings and loan holding company that has elected financial holding company status. Foreign operations run mainly through Columbia Threadneedle Investments UK International Limited, TAM UK International Holdings Limited and Ameriprise Asset Management Holdings Singapore. RiverSource Life companies reinsure part of their insurance risks with unaffiliated reinsurers to limit losses and add capacity.