Ameriprise Financial touts record 2025 results at annual meeting; shareholders back all proposals

Key Points

• Shareholders approved all management proposals at the 2026 annual meeting, including election of eight directors, ratification of PricewaterhouseCoopers as auditor, and a non-binding advisory vote on executive compensation; Edward Walter did not stand for re-election and Liane J. Pelletier was welcomed to the board.
• Ameriprise reported a record 2025 with total assets under management, administration and advisement of $1.7 trillion, revenue up 6% to $18.2 billion, net earnings of $3.9 billion and diluted EPS of $39.34, with return on equity at 53.3%.
• The firm returned $3.4 billion to shareholders in 2025 and raised its dividend (an 8% increase in 2025 and a further 6% announced recently), while early 2026 results showed Q1 adjusted operating revenue up 11% to $4.8 billion and EPS up 19% to $11.26, with management saying the company is well-positioned for volatility.

Ameriprise Financial NYSE: AMP used its 2026 annual meeting of shareholders to highlight record results in 2025, describe what CEO Jim Cracchiolo characterized as a “dynamic and fast-paced” operating environment, and outline continued investments in advice, technology and product capabilities to support growth. The meeting also included voting on director elections, auditor ratification and an advisory vote on executive compensation.

Shareholders approve all management proposals

Corporate Secretary Wendy Mahling said the board set March 2, 2026 as the record date for determining shareholders eligible to vote. She also said Heather Obi of The Carideo Group served as inspector of elections and confirmed a quorum.

Mahling outlined three proposals: the election of eight director nominees for one-year terms, ratification of PricewaterhouseCoopers LLP as independent registered public accounting firm for fiscal 2026, and a non-binding advisory vote on named executive officer compensation. She reported that preliminary results showed “all of the management proposals presented at today’s meeting…have received the required number of votes to pass,” including the election of all eight director nominees.

Cracchiolo noted that director Edward Walter would not stand for re-election due to other obligations and thanked him for contributions since joining the board in 2018. He also welcomed Liane J. Pelletier, who was appointed to the board in November and stood for election as an independent director.

CEO cites uncertainty but says firm is built for volatility

In his remarks, Cracchiolo pointed to resilience in the U.S. economy despite uncertainty, including tariff and trade policy concerns. He said the Federal Reserve “further eased short-term rates in 2025,” but that there had “recently” been a pause amid commodity price shocks and inflationary pressures related to “the war with Iran.”

While equity markets posted strong growth in 2025, he said conditions had been more volatile in 2026, adding that the company had “made up considerable ground in recent weeks.” He said Ameriprise is “well-positioned to navigate this environment,” emphasizing a long-term approach centered on client relationships.

Record 2025: assets, earnings and returns

Cracchiolo said 2025 was “a record year,” with “all-time high for assets, earnings, and returns.” Total assets under management, administration and advisement rose at a double-digit pace to $1.7 trillion, which he called the highest level in the firm’s history.

He reported that, excluding “unlocking,” revenue grew 6% to $18.2 billion and earnings increased to $3.9 billion, with diluted EPS up 12% to $39.34. Firm-wide margin was “nearly 27%,” and return on equity was 53.3%, which he described as best in class.

Cracchiolo also reviewed business highlights across the company:

• Wealth management: He described wealth management as the firm’s core. Total retail client assets reached a record $1.2 trillion, up 13%, and the company generated “more than $30 billion in client inflows,” including early flows into its Signature Wealth unified managed account. Advisor productivity reached $1.1 million per advisor.
• Advisor platform and technology: Cracchiolo said Ameriprise has designed its technology platform “around how advisors work,” connecting tools such as CRM, eMeeting and Advice Insights into an ecosystem “enhanced with embedded AI and automation.” He said J.D. Power again recognized Ameriprise for phone support, marking a seventh consecutive year for advisors and a second year in a row for clients.
• Partnership channel: He said Ameriprise is expanding through partnerships with regional banks and credit unions, citing Huntington Bank’s selection of Ameriprise as its retail investment program provider.
• Ameriprise Bank: He said the bank has grown to “more than $25 billion in assets,” with growth in lending driven by its pledge business. He also referenced new bank CDs, home equity loans and checking accounts launched over the past year.
• Retirement and protection: Cracchiolo said RiverSource was “again recognized as one of the most profitable insurers,” and he highlighted continued interest in variable universal life, structured annuities and variable annuities without living benefits.
• Asset management: He said the company’s global asset management business manages over $720 billion. He cited rankings and awards for Columbia Threadneedle, including a top-10 placement in Barron’s 2025 Best Fund Families list, 103 funds with four or five Morningstar stars, and four Lipper awards for its fixed income team. He also described efforts to expand offerings into separately managed accounts, tax-efficient strategies, model delivery, alternatives and ETFs, including new active ETFs planned for European markets.

Capital return and early 2026 performance

Cracchiolo said the company returned $3.4 billion to shareholders in 2025 through share repurchases and dividends, up from $2.8 billion in 2024. He said the dividend was raised 8% in 2025 and that “just last week” Ameriprise announced another dividend increase of 6%.

On first-quarter 2026 results, he reported adjusted operating revenue up 11% to $4.8 billion, earnings up 12% to $1.1 billion, and EPS up 19% to $11.26. He said ROE increased to 54.3%. He added that client engagement remained high, though clients were “thoughtful and measured about putting new money to work” amid uncertainty.

Shareholder Q&A: buybacks, policies, and dividends

During Q&A, a shareholder asked whether Ameriprise would consider issuing long-term debt to accelerate share repurchases. Cracchiolo responded that he agreed the shares are undervalued and said the company increased repurchases in the fourth quarter to more than 100% of adjusted operating earnings, and that repurchases continued at “a strong pace at 88% in the first quarter.” On debt, he said the company generates significant free cash flow and will “always look to optimize our debt appropriate with our capital structure and in terms of rating agency considerations.”

Another shareholder asked about adopting explicit guarantees of political and religious viewpoint neutrality in account closure policies. Cracchiolo said the company was “comfortable with our policies” and that it does not deny services based on religious or political views.

In response to a shareholder comment regarding the Human Rights Campaign’s corporate equity score, Cracchiolo said Ameriprise “did not participate” and that the survey is based on public information and a methodology the company does not determine.

Closing the meeting, Cracchiolo thanked shareholders and reiterated the firm’s dividend growth record, saying Ameriprise has increased its dividend 22 times since becoming a public company 20 years ago, including the most recent increase announced last week.

About Ameriprise Financial NYSE: AMP

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.

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