Ameriprise Financial
Responsible Business Report
Spring 2024
Ameriprise Financial, Inc.
Table of contents | |
A message from our Chairman and CEO | 2 |
Recognized as an industry leader | 3 |
Managing our business responsibly | 4 |
A powerful business with a strong track record | 5 |
Financial strength and stability | 6 |
Ameriprise and our global reach | 7 |
Our sustainability approach | 8 |
Values-drivenfirm | 9 |
Responsible investor | 18 |
Sound governance | 22 |
Environmental steward | 26 |
Community impact | 30 |
SASB Index | 34 |
Appendix | 35 |
About This Report
This Responsible Business Report is designed to consolidate and summarize our work on sustainability topics that are important to our business and stakeholders and guide readers to where they can access more detailed information. It is informed by the Sustainability Accounting Standards Board (SASB) reporting standards, which are available on page 34. Metrics included are subject to measurement uncertainties given the evolving nature of sustainability reporting, and unless noted, all data is as of Dec. 31, 2023. We reserve the right to update measurement techniques and methodologies in
the future.
Our public disclosures, including our voluntary ESG and climate- related disclosures, include a range of topics that we believe are relevant to our business and that may be of interest to investors and other stakeholders. Information contained in this report and its accompanying website should not be construed as a characterization regarding the materiality or financial impact
of that information.
We communicate information about our sustainability practices and performance through a number of channels - including our annual report and proxy statement, Responsible Business Report, regulatory filings, website, press releases, direct conversations with stakeholders, and various other reports and presentations. Please also see the Ameriprise Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other current and periodic reports with the Securities and Exchange Commission (SEC), available on the SEC website and through our Investor Relations website.
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A message from Jim Cracchiolo, Chairman and Chief Executive Officer
At Ameriprise Financial, our mission is to help people feel confident about their financial future. We have excelled for 130 years because of our dedicated team and steadfast commitment to our values: Client-focused; Integrity always; Excellence in all we do; and Respect for individuals and the communities in which
we live and work.
- We have a long track record of serving our clients extremely well, operating effectively and growing in a dynamic industry.
-
Ameriprise successfully navigated the uncertain and rapidly evolving economic and operating environment in 2023, demonstrating the benefits and combined strength of
our complementary businesses, financial foundation and risk management. - Our team executed our strategic priorities well and again delivered strong business results and shareholder value while maintaining excellent client satisfaction and employee engagement.
Essential to our longevity and success are our consistent focus on all of our stakeholders and our ability to manage Ameriprise responsibly.
Ameriprise continues to receive meaningful external recognition for how we work together and operate the business.
- In 2023, Ameriprise was again recognized as one of the most trusted firms, a leading employer for diversity and disability inclusion, as well as a military-friendly firm.
- We were also included in multiple sustainability- related indices and rankings, including the FTSE4Good Index, Forbes' list of Best Large Employers in America, and The Wall Street Journal Management Top 250 list for 2023.
In this 2024 Responsible Business Report, we discuss our sustainability priorities across five themes: values-drivenfirm, responsible investor, sound governance, environmental steward and community impact. Additional information and sustainability-relateddata are also available on ameriprise.com.
In closing, at Ameriprise, we work diligently to serve our clients' needs and manage our business responsibly. We appreciate your interest in our firm.
Sincerely,
JAMES M. CRACCHIOLO
James M. Cracchiolo
Chairman and Chief Executive Officer
Data as of Dec. 31, 2023.
See appendix for additional source and disclosure information.
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Recognized as an industry leader
Clients rate Ameriprise
4.9 out of 5
in overall satisfaction and
"always putting my interests first"
Columbia Threadneedle
113 and
Morningstar-rated funds globally
Ameriprise has been
recognized by J.D. Power
for providing "an outstanding customer service experience" for phone support for advisors for
five consecutive years
Ranked as the No. 3 brand | |
and a Strong Performer among | |
investment firms for Customer Trust | |
according to Forrester's 2023 U.S. Customer Trust Index | |
All the above ratings are as of 2023. | |
Morningstar: Past performance does not guarantee future results. Morningstar as of Dec. 31, 2023. Out of 89 Columbia Funds rated (based on primary share class), 5 received a 5-star Overall Rating and | |
35 received a 4-star Overall Rating. Out of 149 Threadneedle funds rated (based on highest-rated share Class), 21 received a 5-star Overall Rating and 52 received a 4-star Overall Rating. For criteria and | |
other details of this rating, please see appendix. | |
The referenced sector in the American Innovation Index includes the following financial institutions: Charles Schwab, Morgan Stanley, JP Morgan, Merrill Lynch and Fidelity. Ameriprise Financial, Inc. had the | |
highest score in two innovation categories. | |
For more information on all of the ratings please see Appendix. | 3 |
VALUES-DRIVENFIRM | RESPONSIBLE INVESTOR | SOUND GOVERNANCE | ENVIRONMENTAL STEWARD | COMMUNITY IMPACT
Managing our business responsibly
As of 2023, Ameriprise received an MSCI ESG Rating of A. The use by Ameriprise Financial of any MSCI ESG Research LLC or its affiliates ("MSCI") data, and the use of MSCI logos, trademarks, service marks or index names herein, do not constitute a sponsorship, endorsement, recommendation, or promotion of Ameriprise Financial by MSCI. MSCI services and data are the property of MSCI or its information providers, and are provided 'as-is' and without warranty. MSCI names and logos are trademarks or service marks of MSCI.
See appendix for additional source and disclosure information. | 4 |
A powerful business with a strong track record
At Ameriprise, our diversified business is built on long-term relationships with clients. We
play an important role in serving the financial needs of more than 2 million individual investors, institutions and small businesses. This includes those who are saving and investing to reach their financial goals, including the retirement they envisioned, protecting what matters most and leaving a legacy. Our clients are also pension funds, sovereign funds and other institutional investors across the globe who entrust us to manage their assets.
Together, our complementary businesses reinforce these critical relationships and include:
-
A leading wealth manager and a longstanding leader in financial planning and advice in the
U.S. - Our bank, which adds to the capabilities clients and advisors can deploy to reach their goals
- A global asset manager investing on behalf of individuals and institutional investors in our key markets
- Differentiated annuity and insurance businesses that provide stability and help meet clients' retirement income and protection needs
Given our extensive capabilities, distribution reach and leadership positions, we engage with multiple stakeholders. These include Ameriprise clients, employees and advisors, shareholders, regulators, research organizations, and others who are seeking to understand performance factors that underpin our long-term business success and sustainability.
Our sustainability reporting helps us engage with stakeholders constructively and further demonstrate how we manage the business responsibly.
Stakeholders
- Clients and policyholders
- Employees and contractors
- Ameriprise financial advisors
- Investors in Columbia Threadneedle and RiverSource products
- Shareholders of Ameriprise
- Portfolio companies of Columbia Threadneedle
- Regulators and rating agencies
- Suppliers
- Community organizations, grantees and non-governmental organizations
- Other financial institutions and businesses
5
Our financial strength differentiates Ameriprise
Ameriprise stands tall as one of the strongest firms in the industry, with a proven record of generating and protecting shareholder value across market cycles.
This enables us to stay focused on meeting the needs of our clients, advisors, employees, shareholders and other stakeholders in both the near and long term.
- Strong ratings and risk management
- High-quality,AA-rated investment portfolio
- Strong liquidity with nearly $2 billion at the holding company
- Effective hedging program
- Appropriate debt levels
- Excellent 90%+ free cash flow generation
- Ability to invest for growth and return capital to shareholders at a differentiated rate
Our financial strength underpins our commitments and allows us to continue to invest in the business throughout market cycles.
$1.4 trillion
in assets under management and administration
Consistent, attractive shareholder value creation
As of Dec. 31, 2023. | 6 |
Ameriprise and our global reach
• Founded in 1894 | • A longstanding leader in financial | • More than 10,000 advisors | |||||||
• Headquartered in Minneapolis | planning and advice | • 13,800 global employees | |||||||
• Top 30 global asset manager (AUM) | • More than 2 million clients | ||||||||
Corporate locations* | |||||||||
Amsterdam | Copenhagen | El Segundo | Houston | Madrid | Munich | Paris | Santiago | Stamford | Troy |
Boston | Dorking | Frankfurt | Las Vegas | Menlo Park | New Windsor | Portland | Scottsdale | Swindon | Vienna |
Charlotte | Dubai | Gurugram | London | Milan | New York | Providence | Seoul | Sydney | Washington, D.C. |
Chicago | Edinburgh | Hong Kong | Luxembourg City Minneapolis | Noida | San Antonio | Singapore | Tokyo | Zurich |
- As of Dec. 31, 2023; does not include all corporate locations.
See appendix for source and disclosure information. | 7 |
Our sustainability approach
In this report, we summarize how Ameriprise manages our business responsibly.
Values-Driven Firm
Our values: Client focus, integrity always, excellence in all we do, and respect for individuals and communities in which we live and work. Our culture of caring and our people are central to our long-termsustainability.
Read more.
Responsible Investor
Our financial strength, steady investment and robust enterprise risk management are critical elements of our ability to meet client needs and generate and preserve shareholder value.
Read more.
Sound Governance
Ameriprise and our stakeholders are well served by our extensive governance, capabilities, systems and policies. This includes our strong tone at the top and culture of compliance, as well as our corporate governance framework of independent oversight by our Board of Directors.
Read more.
Environmental Steward
We manage our environmental footprint responsibly, and as a financial services firm, Ameriprise is a low direct greenhouse gas (GHG) emitter. We have earned top ENERGY STAR ratings for the actions we implemented to improve energy efficiency.
Read more.
Community Impact
We strive to improve the communities where we live and work. Through strategic grantmaking, volunteerism and global gift matching, Ameriprise supported a diverse group of more than 7,800 nonprofits across the U.S., UK and other markets in 2023.
Read more.
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VALUES-DRIVENFIRM | RESPONSIBLE INVESTOR | SOUND GOVERNANCE | ENVIRONMENTAL STEWARD | COMMUNITY IMPACT
Values-Driven Firm
Guided by our values
Client focused
Ameriprise is built on serving and satisfying clients; meeting their needs is our top priority.
Integrity always
Our people strive to uphold the highest standards of integrity and stand behind what we say and do.
Excellence in all we do
We provide world-class service and innovative products and solutions, and we hold ourselves accountable for our actions and the company's results.
Respect for individuals and for the communities in which we live and work
Our people are key to our success - respecting each other; growing professionally; valuing diversity; equity and inclusion, and working as a team to achieve our goals. We develop our people, reward performance and strengthen our communities by giving to organizations that our employees and advisors support with their money and time.
"I choose to work at Ameriprise Financial because of its core values, work culture and brand value."
2023 AMERIPRISE EMPLOYEE ENGAGEMENT SURVEY RESPONSE
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Disclaimer
Ameriprise Financial Inc. published this content on 13 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 March 2024 09:15:02 UTC.