Ameriprise 2015 Annual Report Download - page 94
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Distribution fees increased $118 million, or 6%, to $2.2 billion for the year ended December 31, 2014 compared to
$2.1 billion for the prior year due to higher client assets, as well as increased client activity.
Expenses
Total expenses increased $311 million, or 8%, to $4.0 billion for the year ended December 31, 2014 compared to
$3.7 billion for the prior year due to a $302 million increase in distribution expenses driven by higher advisor
compensation due to strong growth in client assets.
Asset Management
The following table presents ending balances and average managed assets:
Average(1)
December 31, December 31,
2014 2013 Change 2014 2013 Change
(in billions)
Columbia managed assets $ 361.2 $ 356.7 $ 4.5 1% $ 359.7 $ 342.9 $ 16.8 5%
Threadneedle managed
assets 147.9 147.4 0.5 — 150.9 133.3 17.6 13
Less: Sub-advised
eliminations (3.5) (3.3) (0.2) (6) (3.3) (2.9) (0.4) (14)
Total managed assets $ 505.6 $ 500.8 $ 4.8 1% $ 507.3 $ 473.3 $ 34.0 7%
(1) Average ending balances are calculated using an average of prior period’s ending balance and all months in the current period.
The following table presents managed asset net flows:
Years Ended
December 31,
2014 2013 Change
(in billions)
Columbia managed asset net flows $ 2.3 $ (8.3) $ 10.6 NM
Threadneedle managed asset net flows — 1.8 (1.8) NM
Less: Sub-advised eliminations (0.2) (0.1) (0.1) NM
Total managed asset net flows $ 2.1 $ (6.6) $ 8.7 NM
NM Not Meaningful.
The following table presents managed assets by type:
Average(1)
December 31, December 31,
2014 2013 Change 2014 2013 Change
(in billions)
Equity $ 278.1 $ 275.3 $ 2.8 1% $ 279.4 $ 247.3 $ 32.1 13%
Fixed income 193.4 196.4 (3.0) (2) 195.9 199.9 (4.0) (2)
Money market 6.7 7.1 (0.4) (6) 6.6 6.4 0.2 3
Alternative 7.4 6.4 1.0 16 7.0 6.4 0.6 9
Hybrid and other 20.0 15.6 4.4 28 18.4 13.3 5.1 38
Total managed assets $ 505.6 $ 500.8 $ 4.8 1% $ 507.3 $ 473.3 $ 34.0 7%
(1) Average ending balances are calculated using an average of the prior period’s ending balance and all months in the current period.
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