AMP Ameriprise Financial (AMP) Q1 FY25 earnings call
Ameriprise Financial delivered a solid Q1 FY25, leveraging its diversified business model to achieve strong financial performance despite market volatility and slowing equity appreciation. The company's wealth management segment saw robust client engagement and asset growth, while asset management faced elevated outflows. Proactive expense management and strategic investments in technology and new product offerings position Ameriprise to navigate the uncertain economic landscape, supported by a strong capital position and commitment to shareholder returns.
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AMP operating KPIs by quarter
| KPI | Dec 2024 Q4 FY24 | This call Mar 2025 Q1 FY25 | Jun 2025 Q2 FY25 | Sep 2025 Q3 FY25 | Dec 2025 Q4 FY25 | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|---|---|---|
| Assets under management (AUM) Wrap | $574BWrap assets under management were also up substantially, growing 18% to $574 billion, making ours one of the largest platforms in the industry.Source: earnings call transcript | $573BAnd total wrap assets grew to $573 billion, up 10%.Source: earnings call transcript | $615BWrap assets were up 15% to $615 billion, with wrap flows of $33 billion over the past year, representing a 6% annualized flow rate consistent with the prior year.Source: earnings call transcript | $650BWrap assets were up 14% to $650 billion with Wrap flows at $30 billion over the past year.Source: earnings call transcript | — | $664BTotal client assets grew 12% to $1.1 trillion with wrap assets growing 16% to $664 billion.Source: earnings call transcript | $732BWrap assets reached a new record, up 19% to $732 billion, reflecting market appreciation, strong client engagement and the value of our advice experience.Source: earnings call transcript | +10.2% |
| Net new assets Client | $11.3BFor the quarter, total client inflows were $11.3 billion, further strengthening from the third quarter.Source: earnings call transcript | $10.3BWe also had good inflows of $10.3 billion across our platform.Source: earnings call transcript | — | — | $13.3BTotal client inflows were $13.3 billion, up 18%, which is one of our best quarters for flows.Source: earnings call transcript | $4.2BClient flows were $4.2 billion and wrap flows were $6 billion in the quarter.Source: earnings call transcript | $3.1BClient flows were $3.1 billion and [ rates ] was $6.9 billion, reflecting a substantial acceleration of [ Comerica terminations ], exacerbated by the elevated tax payments in the quarter.Source: earnings call transcript | -26.2% |
| Net new assets Wrap | $11.1BWrap flows were particularly strong in the quarter at $11.1 billion or 8% annualized flow rate.Source: earnings call transcript | $8.7BFlows grew 34% to $8.7 billion, representing a 6% annualized flow rate in the quarter.Source: earnings call transcript | $5.4BWrap net inflows were $5.4 billion and reflected the higher market uncertainty and seasonal impact of client tax payments and transactional activity was also good.Source: earnings call transcript | — | $12.1BWrap assets increased 17% to a record high of $670 billion with $12.1 billion of net inflows in the quarter, representing a 7.4% annualized flow rate.Source: earnings call transcript | $6BWe ended the quarter with $6 billion of wrap net inflows.Source: earnings call transcript | — | -50.4% |
| Net new assets Asset Management | $1.3BRegarding flows, we had net inflows of $1.3 billion, a more than $6 billion improvement from a year ago.Source: earnings call transcript | -$18.3BRegarding flows, we had higher outflows of $18.3 billion in the quarter.Source: earnings call transcript | -$8.7BRegarding flows, we had $8.7 billion of outflows in the quarter, largely driven by higher institutional impacts.Source: earnings call transcript | -$3.4BNet outflows significantly improved on a sequential basis to $3.4 billion, with improvement in both retail and institutional.Source: earnings call transcript | — | -$5.9BImportantly, net outflows improved significantly year-over-year to $5.9 billion, reflecting better trends across both retail and institutional channels.Source: earnings call transcript | — | — |
| Net new assets Retail | $6.1BIn retail, we had total net inflows of $6.1 billion, reflecting stronger gross sales in North America and EMEA as well as higher reinvested dividends.Source: earnings call transcript | -$5.8BRetail outflows were $5.8 billion, driven by higher redemptions.Source: earnings call transcript | — | — | — | — | — | — |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
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