Ameriprise Financial Inc.
AMP.US | Fund management activities
Ameriprise Financial, Inc. is a diversified financial services company providing financial planning products and services to individuals, advisors, and institutions. The company operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corpo...Show More
Better Health for All
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Ameriprise offers comprehensive mental health support for its employees, including coverage for mental health and substance abuse services at 80% (network) and 60% (non-network) through its health plans.
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Its well-being programs provide onsite and virtual behavioral health clinicians, counseling, meditation rooms, stress management tools, support groups, and an Employee Assistance Program.
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The company explicitly recognizes that financial stress impacts mental health and addresses this through workplace financial wellness programs.
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Additionally, the Columbia Threadneedle Foundation supports charity partners addressing mental health.
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The company's core financial services products are generally neutral in terms of direct health impact, and while some products and services offer financial protection for health, and there are significant philanthropic efforts, the evidence does not provide the necessary quantitative data to score other health-related KPIs.
Fair Money & Economic Opportunity
-40
Ameriprise Bank, FSB, received a 'Satisfactory' Community Reinvestment Act (CRA) rating for 2019-2021, which included 'High Satisfactory' ratings on its Lending, Investments, and Service components.
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In 2023, Ameriprise, its employees, and advisors donated over $16.5 million.
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This amount represents approximately 0.517% of the company's adjusted operating earnings of $3,189 million for 2023.
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Fair Pay & Worker Respect
-10
In 2024, Ameriprise Financial's CEO-to-median-employee pay ratio was 191:1.
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The CEO's total compensation was $56,090,607, while the median employee pay was $147,252.
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Fair Trade & Ethical Sourcing
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Ameriprise Financial is a diversified financial services company, and its business model does not involve the procurement or trade of physical commodities. Consequently, several Fair Trade & Ethical Sourcing KPIs are not applicable. The company does not have a supply chain of physical goods requiring fair-trade certifications, on-site supplier audits, tracking of forced/child labor incidents in upstream practices, traceability of physical materials, or remediation processes for such violations. Similarly, it does not source at-risk materials. Therefore, fair_trade_cert_share, audit_frequency, forced_child_labour_incidents, traceability_coverage, remediation_speed, and materials_risk_index are scored as N/A. While Ameriprise has a supplier diversity program and a Global Code of Conduct that applies to vendors, no specific percentage of procurement budget directed to diverse suppliers or percentage of supplier contracts with enforceable ethical-sourcing clauses is provided in the evidence, leading to the omission of these KPIs.
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Honest & Fair Business
-10
Ameriprise Financial Services, LLC was ordered to pay a civil money penalty of $50,000,000 as part of an SEC Order dated August 14, 2024.
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The SEC found that Ameriprise willfully violated sections of the Exchange Act and Investment Advisers Act, including failing to maintain and preserve off-channel communications sent by employees from at least June 2019.
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The company undertook remedial measures prior to the SEC Order, such as enhancing policies, increasing training, and improving surveillance.
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In financial reporting, 2022 amounts were restated to reflect the adoption of Long-Duration Targeted Improvements (LDTI).
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The company has a comprehensive whistleblower policy with confidential Ethics Hotline resources run by independent third parties, a non-retaliation policy, and requires annual compliance training for all staff.
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Ameriprise maintains strict anti-bribery and anti-corruption policies, prohibiting activities like facilitation payments and tax evasion, supported by risk assessments, policy reviews, and mandatory annual training.
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The board composition includes 7 of 8 (87.5%) independent directors.
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Kind to Animals
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As a financial services company, Ameriprise Financial's core business operations do not involve animal exploitation, animal testing, or the use of animal-derived products. Multiple articles confirm that the company has 'no animal exploitation' and 'no significant involvement in animal testing, fur, or specialty leather.'
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The company is not directly involved in animal agriculture or related operations. Therefore, most KPIs related to direct animal interaction, testing, or product sourcing are not applicable to its business model.
No War, No Weapons
-40
The company's Board, through its Nominating and Governance Committee, actively monitors defense-related business activities as part of its Corporate Social Responsibility program.
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No other specific data points related to arms manufacturing, military contracts, dual-use technologies, sales to embargoed regimes, peacebuilding investments, or divestment policies are provided in the articles.
Planet-Friendly Business
-70
In 2023, Ameriprise Financial's total Scope 1, 2 (market-based), and reported Scope 3 emissions (fuel and energy-related activities, business travel, and employee commuting), combined with financed emissions, amounted to approximately 18,055,849 metric tons of CO2e.
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The company does not have specific SBTi-validated targets for itself, though it has a 2030 target to reduce emissions by 50% from a 2019 baseline.
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In 2023, 30.32% of its total energy consumption was sourced from renewables.
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Ameriprise Financial does not have targets in place for deforestation- and conversion-free lending, investing, or insuring, and does not report the value of its financing and insurance for fossil fuel assets.
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Respect for Cultures & Communities
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The provided articles do not contain specific, quantifiable data points for any of the KPIs related to 'Respect for Cultures & Communities'. Information regarding formal partnerships with indigenous or local community groups, revenue reinvested in local community development, cultural appropriation incidents, cultural impact assessment protocols, local employment ratios, grievance mechanisms for community concerns, FPIC processes, community governance inclusion, cultural preservation investment, local procurement share, indigenous supplier count, cultural site protection, social license to operate, charitable giving to cultural heritage organizations, community fund allocation, language inclusivity scores, cultural incident response, or cultural sensitivity training completion is not available. The articles primarily focus on general ESG ratings
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, financial performance
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, employee diversity (particularly disability inclusion)
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, and general charitable giving to non-profits for basic needs and hunger relief
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, without providing the specific metrics required by the rubric.
Safe & Smart Tech
-10
Ameriprise Financial requires 2-Step Verification for online accounts
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and offers multi-factor authentication options for clients and advisors,
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with voice recognition used for account verification.
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The company maintains compliance and risk management programs,
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ensuring adherence to applicable laws and regulations, including the GLB Act and CPRA.
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Its 2024 Annual Report stated no regulatory actions, violations, or fines,
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and Ameriprise filed a data breach notice with the Massachusetts Attorney General.
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Ameriprise aims to ensure its AI solutions are ethical, transparent, and compliant,
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implementing guardrails and best practices for responsible AI usage.
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All employees, registered contractors, and financial advisors are required to complete annual compliance training on privacy and information security.
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The company uses Secure Socket Layer (SSL) technology and data encryption to protect information.
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However, an unauthorized party accessed confidential consumer information, including names, Social Security numbers, account numbers, dates of birth, and addresses, in a data breach discovered on January 12, 2024.
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Users have options to opt out of marketing email messages
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and limit the sharing of creditworthiness and marketing information with affiliates.
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Zero Waste & Sustainable Products
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Ameriprise Financial has reported no waste disposal violations or citations for the past three years (2021-2023).
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The company has implemented several waste reduction initiatives, including commercial composting programs in Minneapolis and Boston that divert over 90% of recyclable materials to Midwest markets.
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Other initiatives include using recyclable and compostable cafeteria packaging, diverting kitchen food scraps to nonprofits for animal feed, and sending non-recyclable waste to Waste-to-Energy facilities.
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Additionally, Ameriprise promotes e-delivery to reduce paper use, with nearly 1.9 million clients adopting this option since 2008.
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