---
tags:
- sentence-transformers
- sentence-similarity
- feature-extraction
- generated_from_trainer
- dataset_size:9400
- loss:MultipleNegativesRankingLoss
base_model: Alibaba-NLP/gte-large-en-v1.5
widget:
- source_sentence: What was the percentage change in net investment income from 2021
to 2022?
sentences:
- "Index\nAmeriprise Financial, Inc.\nConsolidated Results of Operations\nYear Ended\
\ December 31, 2022 Compared to Year Ended December 31, 2021\nThe following table\
\ presents our consolidated results of operations:\n \nYears Ended December 31,\n\
Change\n2022\n2021\n(in millions)\nRevenues\nManagement and financial advice fees\n\
$\n9,033 \n$\n9,275 \n$\n(242)\n(3)\n%\nDistribution fees\n1,939 \n1,828 \n111\
\ \n6 \nNet investment income\n1,474 \n1,683 \n(209)\n(12)\nPremiums, policy and\
\ contract charges\n1,397 \n221 \n1,176 \nNM\nOther revenues\n491 \n382 \n109\
\ \n29 \nTotal revenues\n14,334 \n13,389 \n945 \n7 \nBanking and deposit interest\
\ expense\n76 \n12 \n64 \nNM\nTotal net revenues\n14,258 \n13,377 \n881 \n7 \n\
Expenses\n \n \n \n \nDistribution expenses\n4,935 \n5,028 \n(93)\n(2)\nInterest\
\ credited to fixed accounts\n665 \n600 \n65 \n11 \nBenefits, claims, losses and\
\ settlement expenses\n242 \n(156)\n398 \nNM\nRemeasurement (gains) losses of\
\ future policy benefit reserves\n1 \n(52)\n53 \nNM\nChange in fair value of market\
\ risk benefits\n311 \n(113)\n424 \nNM\nAmortization of deferred acquisition costs\n\
252 \n259 \n(7)\n(3)\nInterest and debt expense\n198 \n191 \n7 \n4 \nGeneral and\
\ administrative expense\n3,723 \n3,435 \n288 \n8 \nTotal expenses\n10,327 \n\
9,192 \n1,135 \n12 \nPretax income\n3,931 \n4,185 \n(254)\n(6)\nIncome tax provision\n\
782 \n768 \n14 \n2 \nNet income\n$\n3,149 \n$\n3,417 \n$\n(268)\n(8)\n%\nNM Not\
\ Meaningful - variance equal to or greater than 100%.\nOverall\nPretax income\
\ decreased $254 million, or 6%, for 2022 compared to the prior year. The following\
\ impacts were significant drivers of the year-over-year change in pretax\nincome:\n\
•\nThe prior year impact of the block transfer reinsurance transaction resulted\
\ in $524 million of pretax income for 2021 primarily reflecting the net realized\
\ gains on\ninvestments sold to the reinsurer.\n•\nA negative impact from lower\
\ average equity markets compared to the prior year. Our average WEI, which is\
\ a proxy for equity movements on AUM, decreased\n7% in 2022 compared to the prior\
\ year. The average S&P 500 index was 4% lower for 2022 compared to the prior\
\ year.\n•\nThe favorable impact of unlocking was $133 million for 2022 compared\
\ to an unfavorable impact of $113 million for the prior year.\n•\nA favorable\
\ impact from the increase in short-term interest rates compared to the prior\
\ year.\n•\nThe market impact on non-traditional long-duration products (including\
\ variable and fixed deferred annuity contracts and UL insurance contracts), net\
\ of hedges\nand the reinsurance accrual was a benefit of $483 million for 2022\
\ compared to a benefit of $464 million for the prior year.\n50"
- "Intersegment revenues for this segment reflect fees paid by our Asset Management\
\ segment for marketing support and other services provided in\nconnection with\
\ the availability of VIT Funds. Intersegment expenses for this segment include\
\ distribution expenses for services provided by our Advice & Wealth\nManagement\
\ segment, as well as expenses for investment management services provided by\
\ our Asset Management segment. All intersegment activity is eliminated\nin our\
\ consolidated results.\nProtection\nWe provide life and disability income insurance\
\ products to address the protection and risk management needs of our retail clients.\
\ New \nRiverSource\n insurance\nproducts are exclusively offered through our\
\ advisor network. Our advisors also offer insurance products of unaffiliated\
\ carriers. The primary sources of revenues for\nour protection business are premiums,\
\ fees and charges we receive to assume insurance-related risk. We earn net investment\
\ income on owned assets supporting\ninsurance reserves and on capital supporting\
\ the business. We also receive fees based on the level of the RiverSource Life\
\ companies’ separate account assets\nsupporting variable universal life investment\
\ options. The protection products earn intersegment revenues from fees paid by\
\ our Asset Management segment for\nmarketing support and other services provided\
\ in connection with the availability of VIT Funds under the variable universal\
\ life contracts. Intersegment expenses for\nthe protection products include distribution\
\ expenses for services provided by our Advice & Wealth Management segment, as\
\ well as expenses for investment\nmanagement services provided by our Asset Management\
\ segment. All intersegment activity is eliminated in our consolidated results.\n\
®\n6"
- 'Index
Ameriprise Financial, Inc.
Slide 5 - Regulatory Oversight Chart.jpg
Advice & Wealth Management Regulation
Certain of our subsidiaries are registered with the SEC as broker-dealers under
the Securities Exchange Act of 1934 (“Exchange Act”) and with certain states,
the
District of Columbia and other U.S. territories. Our broker-dealer subsidiaries
are also members of self-regulatory organizations, including Financial Industry
Regulatory Authority (“FINRA”), and are subject to the regulations of these organizations.
The SEC and FINRA have stringent rules with respect to the net capital
requirements (which includes rules around customer protection) and the marketing
and trading activities of broker-dealers. Our broker-dealer subsidiaries, as well
as
our financial advisors and other personnel, must obtain all required state and
FINRA licenses and registrations to engage in the securities business and take
certain
steps to maintain such registrations in good standing. SEC regulations also impose
notice requirements and capital
11'
- source_sentence: What are the key components of Ameriprise Financial's strategy
for attracting and retaining a diverse workforce?
sentences:
- "Index\nAmeriprise Financial, Inc.\n2022 due to a $75.8 billion increase in Advice\
\ & Wealth Management AUM driven by market appreciation and wrap account net inflows\
\ and a $52.9 billion increase in\nAsset Management AUM primarily driven by market\
\ appreciation. Total AUA increased $57.5 billion, or 26%, to $279.5 billion as\
\ of December 31, 2023 compared to\nthe prior year primarily driven by equity\
\ market appreciation, and an increase in third-party money market funds and brokered\
\ CDs. See our segment results of\noperations discussion for additional information\
\ on changes in our AUM.\nConsolidated Results of Operations\nYear Ended December\
\ 31, 2023 Compared to Year Ended December 31, 2022\nThe following table presents\
\ our consolidated results of operations:\n \nYears Ended December 31,\nChange\n\
2023\n2022\n(in millions)\nRevenues\nManagement and financial advice fees\n$\n\
8,907 \n$\n9,033 \n$\n(126)\n(1)\n%\nDistribution fees\n1,931 \n1,939 \n(8)\n\
— \nNet investment income\n3,206 \n1,474 \n1,732 \nNM\nPremiums, policy and contract\
\ charges\n1,539 \n1,397 \n142 \n10 \nOther revenues\n513 \n491 \n22 \n4 \nTotal\
\ revenues\n16,096 \n14,334 \n1,762 \n12 \nBanking and deposit interest expense\n\
561 \n76 \n485 \nNM\nTotal net revenues\n15,535 \n14,258 \n1,277 \n9 \nExpenses\n\
\ \n \n \n \nDistribution expenses\n5,078 \n4,935 \n143 \n3 \nInterest credited\
\ to fixed accounts\n654 \n665 \n(11)\n(2)\nBenefits, claims, losses and settlement\
\ expenses\n1,350 \n242 \n1,108 \nNM\nRemeasurement (gains) losses of future policy\
\ benefit reserves\n(20)\n1 \n(21)\nNM\nChange in fair value of market risk benefits\n\
798 \n311 \n487 \nNM\nAmortization of deferred acquisition costs\n246 \n252 \n\
(6)\n(2)\nInterest and debt expense\n324 \n198 \n126 \n64 \nGeneral and administrative\
\ expense\n3,871 \n3,723 \n148 \n4 \nTotal benefits and expenses\n12,301 \n10,327\
\ \n1,974 \n19 \nPretax income\n3,234 \n3,931 \n(697)\n(18)\nIncome tax provision\n\
678 \n782 \n(104)\n(13)\nNet income\n$\n2,556 \n$\n3,149 \n$\n(593)\n(19)\n%\n\
NM Not Meaningful - variance equal to or greater than 100%.\nOverall\nPretax\
\ income decreased $697 million, or 18%, for 2023 compared to the prior year.\
\ The following impacts were significant drivers of the year-over-year change\
\ in\npretax income:\n•\nThe market impact on non-traditional long-duration products,\
\ net of hedges was an expense of $608 million for 2023 compared to a benefit\
\ of $483 million for the\nprior year.\n•\nThe unfavorable impact of unlocking\
\ was $99 million for 2023 compared to a favorable impact of unlocking of $133\
\ million for the prior year.\n•\nA favorable impact from the trend in rising\
\ interest rates on the investment portfolio yield, including from investment\
\ portfolio repositioning in our insurance\nbusiness in the fourth quarter of\
\ 2022, along with higher balances in bank and certificate products.\n39"
- 'At December 31, 2023 and 2022, the parent company had $544 million and $389 million,
respectively, in cash, cash equivalents, and unencumbered liquid securities.
Liquid securities predominantly include U.S. government agency mortgage back securities.
Additional sources of liquidity include a line of credit with an affiliate up
to $727 million and an unsecured revolving committed credit facility for up to
$1.0 billion that expires in June 2026. Management’s estimate of liquidity available
to the
parent company in a volatile and uncertain economic environment as of December
31, 2023 was $1.8 billion which includes cash, cash equivalents, unencumbered
liquid securities, the line of credit with an affiliate and a portion of the committed
credit facility.
Under the terms of the committed credit facility, we can increase the availability
to $1.25 billion upon satisfaction of certain approval requirements. Available
borrowings under this facility are reduced by any outstanding letters of credit.
At December 31, 2023, we had no outstanding borrowings under this credit facility
and
had $1 million of letters of credit issued against the facility. Our credit facility
contains various administrative, reporting, legal and financial covenants. We
remain in
compliance with all such covenants at December 31, 2023.
In addition, we have access to collateralized borrowings, which may include repurchase
agreements and Federal Home Loan Bank (“FHLB”) advances, and advances
at the Federal Reserve. Our subsidiaries, RiverSource Life Insurance Company (“RiverSource
Life”), and Ameriprise Bank are members of the FHLB of Des Moines,
which provides access to collateralized borrowings. As of December 31, 2023 and
2022, we had an estimated maximum borrowing capacity of $8.6 billion and $8.0
billion, respectively, of borrowing capacity under the FHLB facilities, of which
$201 million was outstanding as of both December 31, 2023 and 2022, and is
collateralized with commercial mortgage backed securities. In addition, Ameriprise
Bank maintains access to borrowings from the Federal Reserve which are
collateralized with residential mortgage backed securities, commercial mortgage
backed securities and
60'
- 'The impact of these factors on our business may vary from country to country
and certain competitors may have competitive advantage in
certain jurisdictions.
Competitors of our Retirement & Protection Solutions segment consist of both stock
and mutual insurance companies. Competitive factors affecting the sale of
variable annuity and insurance products include distribution capabilities, price,
product features and innovation, hedging capability, investment performance,
commission structure, reinsurance availability and pricing, perceived financial
strength and financial strength ratings, claims-paying ratings, technology and
service,
advertising, brand recognition and financial strength ratings from rating agencies.
Human Capital Management
Ameriprise Financial has a strong values-driven and inclusive culture that is
the foundation of all that we do. While our individual business lines serve different
client
needs, we have a common vision and values that drive our business and how we work
with clients and each other. Our values are the following:
•
Client focused;
•
Integrity always;
•
Excellence in all we do; and
•
Respect for the individuals and for the communities in which we live and work.
To ensure our long-term success, we must attract, retain, engage and develop a
diverse, high-performing workforce. We are committed to providing an excellent
employee and advisor experience for all of our people. This includes approximately
13,800 global
8'
- source_sentence: What is the significance of Columbia Threadneedle in Ameriprise's
asset management segment?
sentences:
- 'Index
Ameriprise Financial, Inc.
Expenses
Distribution expenses decreased $93 million, or 2%, for 2022 compared to the prior
year primarily lower average equity markets and decreased transactional activity.
Interest credited to fixed accounts increased $65 million, or 11%, for 2022 compared
to the prior year primarily reflecting the following items:
•
An $23 million decrease in expense from the unhedged nonperformance credit spread
risk adjustment on IUL benefits. The favorable impact of the
nonperformance credit spread was $13 million for 2022 compared to an unfavorable
impact of $10 million for the prior year.
•
A $105 million increase in expense from other market impacts on IUL benefits,
net of hedges, which was an expense of $51 million for 2022 compared to a benefit
of $54 million for the prior year. The increase in expense was primarily due to
an increase in the IUL embedded derivative in the current year period, which
reflected higher option costs due to a higher new money rate, compared to a decrease
in the IUL embedded derivative in the prior year period, which reflected
lower option costs due to higher discount rates.
Benefits, claims, losses and settlement expenses increased $398 million for 2022
compared to the prior year primarily reflecting the following items:
•
A $1.2 billion decrease in expense associated with the reinsurance transaction
for life contingent payout annuity policies in the prior year.
•
An $806 million decrease in expense from market impacts on SVA embedded derivative,
net of hedges in place to offset those risks. This decrease was the result
of a favorable $1.0 billion change in the market impact on the SVA embedded derivative,
partially offset by an unfavorable $224 million change in the market
impact on derivatives hedging the SVA embedded derivative. The main market driver
contributing to these changes was the equity market impact on the SVA
embedded derivative net of the impact on the corresponding hedge assets, which
resulted in a benefit for 2022 compared to an expense in the prior year.
Remeasurement (gains) losses of future policy benefit reserves increased $53 million
for 2022 compared to the prior year primarily reflecting an increase in expense
on
LTC insurance as policy and claim terminations returned to more normalized levels
compared to the prior year period which benefited from COVID-19 related impacts.
Change in fair value of market risk benefits increased $424 million for 2022 compared
to the prior year primarily reflecting the following items:
•
A $769 million increase in expense from other market impacts on variable annuity
guaranteed benefits, net of hedges in place to offset those risks. This decrease
was the result of an unfavorable $865 million change in the market impact on variable
annuity guaranteed benefits reserves, partially offset by a favorable
$96 million change in the market impact on derivatives hedging the variable annuity
guaranteed benefits. The main market drivers contributing to these changes
are summarized below:
•
Equity market impact on the variable annuity guaranteed benefits liability net
of the impact on the corresponding hedge assets resulted in an expense for
2022 compared to a benefit in the prior year.
•
Interest rate and bond impact on the variable annuity guaranteed benefits liability
net of the impact on the corresponding hedge assets resulted in a benefit
for 2022 compared to an expense in the prior year.
•
Volatility impact on the variable annuity guaranteed benefits liability net of
the impact on the corresponding hedge assets resulted in a higher expense for
2022 compared to the prior year.
•
Other unhedged items, including the difference between the assumed and actual
underlying separate account investment performance, transaction costs
and various behavioral items, were a higher net expense for 2022 compared to the
prior year.
General and administrative expense increased $288 million, or 8%, 2022 the prior
year primarily reflecting the operating expenses of the acquired BMO Global Asset
Management (EMEA) business and higher integration related expenses, partially
offset by disciplined expense management and reengineering, lower performance
fee
related compensation and a favorable foreign exchange impact.
Income Taxes
Our effective tax rate was 19.9% for 2022 compared to 18.3% for the prior year.
See Note 24 to our Consolidated Financial Statements for additional discussion
on
income taxes.
52'
- "Index\nAmeriprise Financial, Inc.\nIntellectual Property\nWe rely on a combination\
\ of contractual rights and copyright, trademark, and patent registrations and\
\ trade secret laws to establish and protect our intellectual\nproperty. In the\
\ U.S. and other jurisdictions, we have established and registered, or filed applications\
\ to register, certain trademarks and service marks that we\nconsider important\
\ to the marketing of our products and services, including but not limited to\
\ the \nAmeriprise Financial, Threadneedle, RiverSource, Columbia\nThreadneedle\
\ and Columbia Threadneedle Investments \nbrands. We have in the past and will\
\ continue to establish and protect our intellectual property rights.\nEnterprise\
\ Risk Management\nEnterprise risk management and our risk management program\
\ is an important component in how we manage our business. All operating subsidiaries\
\ of Ameriprise\nmust comply with our enterprise risk management policy and framework,\
\ which: (i) establishes a structure for effective enterprise risk management,\
\ including\noversight and governance; (ii) delineates key constituent roles and\
\ responsibilities; and (iii) imposes a number of core risk management processes.\
\ The enterprise risk\nmanagement policy is designed to manage risks that may\
\ impact Ameriprise, including capital, credit, market, liquidity, operational,\
\ strategic, reputational, legal and\ncompliance, and product. The enterprise\
\ risk management policy is supported by underlying risk policies at business\
\ units that provide further detail on the business\nunit’s risk governance, appetite,\
\ and tolerance.\nRegulation\nVirtually all aspects of our business, including\
\ the activities of the parent company and our subsidiaries, are subject to various\
\ federal, state, local and foreign laws\nand regulations. These laws and regulations\
\ provide broad regulatory, administrative and enforcement powers to supervisory\
\ agencies and other bodies, including\nU.S. federal and state regulatory and\
\ law enforcement agencies, foreign government agencies or regulatory bodies and\
\ U.S. and foreign securities exchanges. The\ncosts of complying with such laws\
\ and regulations are significant and increasing, and the consequences for the\
\ failure to comply may include civil or criminal\ncharges, fines, censure, the\
\ suspension of individual employees, restrictions on or prohibitions from engaging\
\ in certain lines of business (or in certain states or\ncountries), revocation\
\ of certain registrations and reputational damage. We have made and expect to\
\ need to continue to make significant investments in our\ncompliance and supervision\
\ processes, enhancing policies, procedures and oversight to monitor our compliance\
\ with the numerous legal and regulatory requirements\napplicable to our business.\n\
We operate in a highly scrutinized regulatory environment and it remains subject\
\ to change. Regulatory developments, both in and outside of the U.S., have resulted\n\
or are expected to result in greater regulatory oversight and internal compliance\
\ obligations for firms across the financial services industry. In addition, we\
\ continue\nto see enhanced legislative and regulatory interest regarding retirement\
\ investing and fiduciary initiatives, as well as environmental, social and governance\
\ (“ESG”)\nconsideration and responsible investing; cybersecurity and resilience;\
\ the use of artificial intelligence; responsible information and data collection,\
\ storage and use;\nfinancial crime prevention; and privacy matters, and we will\
\ continue to closely review and monitor any legislative or regulatory proposals\
\ and changes. States in the\nU.S. and jurisdictions outside the U.S. continue\
\ to add new complexity to the patchwork of laws and regulations already in existence\
\ relating to privacy,\ncybersecurity, artificial intelligence and other areas\
\ and we are expecting similar new laws at the federal level and in multiple states\
\ in the U.S. The same complexity\nresulting from multiple standards exists for\
\ retirement investing where individual states and federal regulators continue\
\ to propose or enact their own rules. These\nlegal and regulatory changes have\
\ impacted and may in the future impact how we are regulated and how we operate\
\ and govern our businesses.\nThe discussion and overview set forth below provides\
\ a general framework of the primary laws and regulations impacting our businesses.\
\ Certain of our subsidiaries\nmay be subject to one or more elements of this\
\ regulatory framework depending on the nature of their business, the products\
\ and services they provide and the\ngeographic locations in which they operate.\
\ To the extent the discussion includes references to statutory and regulatory\
\ provisions, it is qualified in its entirety by\nreference to these statutory\
\ and regulatory provisions and is current only as of the date of this report.\n\
10"
- 'Index
Ameriprise Financial, Inc.
term needs. As part of our goal-based approach to financial advice, our advisors
help clients actively manage investing, saving and spending so they have a more
complete picture of their financial life.
A significant portion of revenues in this segment are fee-based and driven by
the level of client assets, which is impacted by both market movements and net
flows.
We also earn revenue and income through other sources, including the following:
•
We earn net investment income on owned assets from Ameriprise Certificate Company
and Ameriprise Bank, both wholly owned subsidiaries of Ameriprise.
•
We earn financial planning fees as well as transaction and other fees.
•
We earn distribution fees for providing non-affiliated products and intersegment
revenues for providing our affiliated products and services to our retail
clients. Intersegment expenses for this segment include investment management
services provided by our Asset Management segment. All intersegment
activity is eliminated in our consolidated results.
Our Financial Advisor Platform
With more than 10,000 advisors, we are one of the top branded advisor platforms
in the U.S. market. Advisors can choose to affiliate with us in multiple ways
as
noted below, and each option offers different levels of support and compensation.
Slide 3 - Advisor Affiliations-v2.jpg
We offer the following products and services through our Advice & Wealth Management
segment:
•
Financial planning and advice services to provide personalized financial planning
and financial solutions for which we charge fees and may receive sales
commissions for selling products that aid in our clients’ plans.
•
Discretionary and non-discretionary investment advisory accounts for which we
receive fees based on the assets held in that account, as well as related fees
or
costs associated with the underlying securities held in that account.
•
Brokerage products and services for retail and institutional clients.
•
Cash management and banking products, including brokerage sweep programs, cash
management accounts, savings accounts, credit cards, margin loans and
pledged asset lines of credit.
•
Face-amount certificates through the Ameriprise Certificate Company, a wholly
owned subsidiary.
•
Mutual fund offerings from our own Columbia funds as well as approximately 135
unaffiliated mutual fund families, representing approximately 2,150 mutual funds
on our brokerage platform for which mutual fund families and other companies generally
pay us a portion of the revenue generated from sales of those funds,
administrative fees, and fees from the ongoing management attributable to our
clients’ ownership in the fund.
•
Insurance and annuities products from both RiverSource Life companies as well
as certain third parties, and we receive a portion of the revenue generated from
the sale of unaffiliated products and certain administrative fees.
Our Segments - Asset Management
Through Columbia Threadneedle, we provide investment management, advice and products
to retail, high net worth and institutional clients on a global scale.
4'
- source_sentence: How does Ameriprise Financial's distribution team support its global
asset management business?
sentences:
- "Index\nAmeriprise Financial, Inc.\nOther revenues increased $84 million, or 58%,\
\ for 2022 compared to the prior year primarily reflecting the yield on deposit\
\ receivables arising from reinsurance\ntransactions.\nExpenses\nRemeasurement\
\ (gains) losses of future policy benefit reserves increased $46 million for 2022\
\ compared to the prior year primarily reflecting an increase in expense on\n\
LTC insurance as policy and claim terminations returned to more normalized levels\
\ compared to the prior year which benefited from COVID-19 related impacts.\n\
General and administrative expense, which excludes integration and restructuring\
\ charges and expenses attributable to CIEs, \ndecreased $39 million, or 15%,\
\ to 2022\ncompared to the prior year primarily due to a larger unfavorable change\
\ in the mark-to-market impact on share-based compensation expenses in the prior\
\ year due to\nshare price appreciation.\nFair Value Measurements\nWe report certain\
\ assets and liabilities at fair value; specifically, separate account assets,\
\ derivatives, market risk benefits, embedded derivatives and most\ninvestments\
\ and cash equivalents. Fair value assumes the exchange of assets or liabilities\
\ occurs in orderly transactions and is not the result of a forced liquidation\n\
or distressed sale. We include actual market prices, or observable inputs, in\
\ our fair value measurements to the extent available. Broker quotes are obtained\
\ when\nquotes from pricing services are not available. We validate prices obtained\
\ from third parties through a variety of means such as: price variance analysis,\
\ subsequent\nsales testing, stale price review, price comparison across pricing\
\ vendors and due diligence reviews of vendors. See Note 16 to the Consolidated\
\ Financial Statements\nfor additional information on our fair value measurements.\n\
Fair Value of Liabilities and Nonperformance Risk\nCompanies are required to measure\
\ the fair value of liabilities at the price that would be received to transfer\
\ the liability to a market participant (an exit price). Since\nthere is not a\
\ market for our obligations of our market risk benefits, fixed deferred indexed\
\ annuities, structured variable annuities, and IUL insurance, we consider the\n\
assumptions participants in a hypothetical market would make to reflect an exit\
\ price. As a result, we adjust the valuation of market risk benefits, fixed deferred\n\
indexed annuities, structured variable annuities, and IUL insurance by updating\
\ certain contractholder assumptions, adding explicit margins to provide for risk,\
\ and\nadjusting the rates used to discount expected cash flows to reflect a current\
\ market estimate of our nonperformance risk. The nonperformance risk adjustment\
\ is\nbased on observable market data adjusted to estimate the risk of our life\
\ insurance company subsidiaries not fulfilling these liabilities. Consistent\
\ with general market\nconditions, this estimate resulted in a spread over the\
\ U.S. Treasury curve as of December 31, 2023. As our estimate of this spread\
\ widens or tightens, the liability will\ndecrease or increase, respectively.\
\ If this nonperformance credit spread moves to a zero spread over the U.S. Treasury\
\ curve, the reduction to future total equity\nwould be approximately $795 million,\
\ net of the reinsurance accrual and income taxes (calculated at the statutory\
\ tax rate of 21%), based on December 31, 2023\ncredit spreads.\nLiquidity and\
\ Capital Resources\nOverview\nAs of December 31, 2023 and 2022, we had Available\
\ Capital for Capital Adequacy of $5.4 billion and $5.2 billion, respectively.\
\ Available Capital for Capital Adequacy\nbest reflects the available capital\
\ resources of our operations.\nWe maintained substantial liquidity during the\
\ year ended December 31, 2023. At December 31, 2023 and 2022, we had $7.5 billion\
\ and $7.0 billion, respectively, in\ncash and cash equivalents excluding CIEs\
\ and other restricted cash on a consolidated basis.\nAt December 31, 2023 and\
\ 2022, the parent company had $544 million and $389 million, respectively, in\
\ cash, cash equivalents, and unencumbered liquid securities.\nLiquid securities\
\ predominantly include U.S. government agency mortgage back securities. Additional\
\ sources of liquidity include a line of credit with an affiliate up\nto $727\
\ million and an unsecured revolving committed credit facility for up to $1.0\
\ billion that expires in June 2026. Management’s estimate of liquidity available\
\ to the\nparent company in a volatile and uncertain economic environment as of\
\ December 31, 2023 was $1.8 billion which includes cash, cash equivalents, unencumbered\n\
liquid securities, the line of credit with an affiliate and a portion of the committed\
\ credit facility."
- "Index\nAmeriprise Financial, Inc.\nDistribution fees decreased $4 million for\
\ 2022 compared to the prior year reflecting lower average equity markets and\
\ decreased transactional activity mostly offset\nby $264 million of higher fees\
\ on off-balance sheet brokerage cash due to an increase in average short-term\
\ interest rates.\nNet investment income increased $491 million for 2022 compared\
\ to the prior year primarily due to higher average invested assets due to increased\
\ bank deposits and\nhigher investment yields on the investment portfolio supporting\
\ the bank and certificate products.\nBanking and deposit interest expense increased\
\ $64 million for 2022 compared to the prior year primarily due to higher average\
\ crediting rates on bank cash deposits\nand certificates and increased cash deposits\
\ at the bank.\nExpenses\nDistribution expenses decreased $123 million, or 3%,\
\ for 2022 compared to the prior year reflecting market depreciation and decreased\
\ transactional activity.\nGeneral and administrative expense increased $114 million,\
\ or 8%, for 2022 compared to the prior year primarily due to higher volume related\
\ expenses and\ninvestments in business growth as well as lower staffing levels\
\ and limited travel and entertainment expenses in the prior year.\nAsset Management\n\
The following table presents managed assets by type:\nDecember 31,\nChange\nAverage\n\
Change\nDecember 31,\n2022\n2021\n2022\n2021\n(in billions)\nEquity\n$\n301.2\
\ \n$\n402.9 \n$\n(101.7)\n(25)\n%\n$\n333.1 \n$\n338.3 \n$\n(5.2)\n(2)\n%\nFixed\
\ income\n210.0 \n277.0 \n(67.0)\n(24)\n232.0 \n211.8 \n20.2 \n10 \nMoney market\n\
21.9 \n10.1 \n11.8 \nNM\n17.1 \n6.5 \n10.6 \nNM\nAlternative\n33.7 \n39.9 \n(6.2)\n\
(16)\n37.3 \n25.8 \n11.5 \n45 \nHybrid and other\n17.2 \n24.2 \n(7.0)\n(29)\n\
19.8 \n22.6 \n(2.8)\n(12)\nTotal managed assets\n$\n584.0 \n$\n754.1 \n$\n(170.1)\n\
(23)\n%\n$\n639.3 \n$\n605.0 \n$\n34.3 \n6 \n%\nNM Not Meaningful - variance equal\
\ to or greater than 100%.\n Average ending balances are calculated using an average\
\ of the prior period’s ending balance and all months in the current period.\n\
\ (1)\n(1)\n55"
- "Index\nAmeriprise Financial, Inc.\n•\nInstitutional and retail separately managed\
\ accounts for a range of clients, including pension, profit-sharing, employee\
\ savings, sovereign wealth funds and\nendowment funds, accounts of large- and\
\ medium-sized businesses and governmental clients, as well as the accounts of\
\ high net worth individuals and smaller\ninstitutional clients, including tax-exempt\
\ and not-for-profit organizations for which we receive management and performance-related\
\ fees.\n•\nOther separately managed accounts, including those offered through\
\ models that represent assets under advisement.\n•\nManagement of owned assets\
\ such as assets held in the general account of our RiverSource Life companies,\
\ Ameriprise Certificate Company and Ameriprise\nBank.\n•\nManagement of CLOs,\
\ which includes providing collateral management services to special purpose vehicles\
\ that primarily invest in syndicated bank loans and\nissue multiple tranches\
\ of securities collateralized by the assets for which we earn fees based on the\
\ value of assets and performance-based fees.\n•\nPrivate funds of various types\
\ where we provide investment management and related services to private, pooled\
\ investment vehicles organized as limited\npartnerships, limited liability companies,\
\ or other entities for which we may receive fees based on the value of the assets\
\ or performance-based fees.\n•\nCollective funds and separately managed accounts\
\ sponsored by Ameriprise Trust Company (“ATC”) and offered to certain qualified\
\ institutional clients such\nas retirement, pension, and profit-sharing plans\
\ for which we receive management fees.\n•\nSub-advised accounts for certain U.S.\
\ and non-U.S. funds, private banking individually managed accounts, common trust\
\ funds, and other portfolios sponsored\nor advised by other firms for which we\
\ earn management fees and possibly performance-based fees.\nDistribution\nWe\
\ maintain distribution teams and capabilities that aid the sales, marketing,\
\ and support of the products and services of our global asset management business.\n\
These distribution activities are generally organized into two major categories:\
\ retail distribution and institutional/high net worth distribution. However,\
\ alternatives\nand certain other areas have a level of specialized distribution.\n\
Our Segments - Retirement & Protection Solutions\nRiverSource solutions are one\
\ way we deliver on the Ameriprise client experience and \nConfident Retirement\n\
\ approach. We offer clients annuities, life insurance and\ndisability income\
\ insurance products to meet their needs or current stage in life—whether that\
\ is covering essentials, ensuring lifestyle, preparing for the unexpected\nor\
\ leaving a legacy. RiverSource seeks to partner with our advisors to address\
\ clients’ goals and long-term needs at a differentiated level and provide a strong\
\ risk\nprofile.\nRetirement Solutions\nThrough our advisors, we provide \nRiverSource\n\
\ annuity products to clients to help individuals address their asset accumulation\
\ and income goals. Our advisor\nnetwork is the only distributor of new \nRiverSource\n\
\ annuity products, although advisors offer fixed, variable, and structured annuities\
\ from selected unaffiliated\ninsurers. As part of the continued evolution of\
\ the business model for our Retirement & Protection Solutions segment, we focus\
\ on the accumulation solutions\nclients want (such as the structured variable\
\ annuity, a registered index-linked annuity).\nRevenues for our variable annuity\
\ products are primarily earned as fees based on a contractholder’s benefit base,\
\ contract value or separate account values, which is\nimpacted by both market\
\ movements and net asset flows. We also earn net investment income on general\
\ account assets supporting reserves for non-life contingent\npayout annuities,\
\ structured variable annuities, certain guaranteed benefits and fixed investment\
\ options offered with variable annuities, and on capital supporting\nthe business.\
\ In addition, we receive fees charged on assets allocated to our separate accounts\
\ to cover administrative costs and a portion of the management fees\nfrom the\
\ underlying investment accounts in which assets are invested. Revenues for our\
\ payout annuities with a life contingent feature are earned as premium\nrevenue.\
\ Intersegment revenues for this segment reflect fees paid by our Asset Management\
\ segment for marketing support and other services provided in\nconnection with\
\ the availability of VIT Funds. Intersegment expenses for this segment include\
\ distribution expenses for services provided by our Advice & Wealth\nManagement\
\ segment, as well as expenses for investment management services provided by\
\ our Asset Management segment. All intersegment activity is eliminated\nin our\
\ consolidated results.\nProtection\nWe provide life and disability income insurance\
\ products to address the protection and risk management needs of our retail clients.\
\ New \nRiverSource\n insurance\nproducts are exclusively offered through our\
\ advisor network. Our advisors also offer insurance products of unaffiliated\
\ carriers. The primary sources of revenues for\nour protection business are premiums,\
\ fees and charges we receive to assume insurance-related risk. We earn net investment\
\ income on owned assets supporting\ninsurance reserves and on capital supporting\
\ the business."
- source_sentence: What critical accounting estimate is highlighted regarding the
valuation of investments in Ameriprise Financial, Inc.'s financial statements?
sentences:
- "Additionally, users can sign up to receive automatic\nnotifications when new\
\ materials are posted. The information found on the website is not incorporated\
\ by reference into this report or in any other report or\ndocument we furnish\
\ or file with the SEC.\nItem 1A. \nRisk Factors\nOur operations and financial\
\ results are subject to various risks and uncertainties, including those described\
\ below, that could have a material adverse effect on our\nbusiness, financial\
\ condition or results of operations and could cause the trading price of our\
\ common stock to decline. We believe that the following information\nidentifies\
\ the material factors affecting our company based on the information we currently\
\ know. However, the risks and uncertainties our company faces are not\nlimited\
\ to those described below. Additional risks and uncertainties not presently known\
\ to us or that we currently believe to be immaterial may also adversely affect\n\
our business.\nMarket Risks\nOur results of operations and financial condition\
\ may be adversely affected by market fluctuations and by economic, political\
\ and other factors.\nOur results of operations and financial condition may be\
\ materially affected by market fluctuations and by economic and other factors.\
\ Such factors, which can be\nglobal, regional, national or local in nature, include:\
\ (i) the level and volatility of the markets, including equity prices, interest\
\ rates, commodity prices, currency values\nand other market indices and drivers;\
\ \n(ii) geopolitical strain, terrorism and armed conflicts, (iii) political dynamics\
\ or elections and social, economic and market\nconditions; (iv) the availability\
\ and cost of capital; (v) global health emergencies (such as the coronavirus\
\ disease 2019 (“COVID-19”) pandemic); (vi) technological\nchanges and\n16"
- "Index\nAmeriprise Financial, Inc.\nThe following table reconciles net income\
\ to adjusted operating earnings and the five-point average of quarter-end equity\
\ to adjusted operating equity:\n \nYears Ended December 31,\n2023\n2022\n(in\
\ millions)\nNet income\n$\n2,556 \n$\n3,149 \nLess: Adjustments \n(555)\n264\
\ \nAdjusted operating earnings\n$\n3,111 \n$\n2,885 \nTotal Ameriprise Financial,\
\ Inc. shareholders’ equity\n$\n4,116 \n$\n4,170 \nLess: AOCI, net of tax\n(2,297)\n\
(1,769)\nTotal Ameriprise Financial, Inc. shareholders’ equity, excluding AOCI\n\
6,413 \n5,939 \nLess: Equity impacts attributable to CIEs\n(4)\n— \nAdjusted operating\
\ equity\n$\n6,417 \n$\n5,939 \nReturn on equity, excluding AOCI\n39.9 \n%\n53.0\
\ \n%\nAdjusted operating return on equity, excluding AOCI\n48.5 \n%\n48.6 \n\
%\nAdjustments reflect the sum of after-tax net realized investment gains/losses,\
\ net of the reinsurance accrual; the market impact on non-traditional long-duration\
\ products (including\nvariable and fixed deferred annuity contracts and UL insurance\
\ contracts), net of hedges and the reinsurance accrual; mean reversion related\
\ impacts; block transfer reinsurance\ntransaction impacts; the market impact\
\ of hedges to offset interest rate and currency changes on unrealized gains or\
\ losses for certain investments; gain or loss on disposal of a\nbusiness that\
\ is not considered discontinued operations; integration and restructuring charges;\
\ income (loss) from discontinued operations; and net income (loss) from consolidated\n\
investment entities. After-tax is calculated using the statutory tax rate of 21%.\n\
Adjusted operating return on equity, excluding AOCI is calculated using adjusted\
\ operating earnings in the numerator and Ameriprise Financial shareholders’ equity,\
\ excluding AOCI\nand the impact of consolidating investment entities using a\
\ five-point average of quarter-end equity in the denominator. After-tax is calculated\
\ using the statutory rate of 21%.\nThe following table reconciles GAAP total\
\ equity to Available Capital for Capital Adequacy:\nDecember 31, 2023\nDecember\
\ 31, 2022\n(in millions)\nAmeriprise Financial, Inc. GAAP total equity\n$\n4,729\
\ \n$\n3,803 \nLess: AOCI\n(1,766)\n(2,546)\nAmeriprise Financial, Inc. GAAP total\
\ equity, excluding AOCI\n6,495 \n6,349 \nLess: RiverSource Life Insurance Company\
\ GAAP equity, excluding AOCI\n1,851 \n2,057 \nAdd: RiverSource Life Insurance\
\ Company statutory total adjusted capital\n3,093 \n3,103 \nLess: Goodwill and\
\ intangibles\n2,622 \n2,485 \nAdd: Other adjustments\n303 \n299 \n Available\
\ Capital for Capital Adequacy\n$\n5,418 \n$\n5,209 \nCritical Accounting Estimates\n\
The accounting and reporting policies that we use affect our Consolidated Financial\
\ Statements. Certain of our accounting and reporting policies are critical to\
\ an\nunderstanding of our consolidated results of operations and financial condition\
\ and, in some cases, the application of these policies can be significantly affected\
\ by\nthe estimates, judgments and assumptions made by management during the preparation\
\ of our Consolidated Financial Statements. The accounting and reporting\npolicies\
\ and estimates we have identified as fundamental to a full understanding of our\
\ consolidated results of operations and financial condition are described\nbelow.\
\ See Note 2 to our Consolidated Financial Statements for further information\
\ about our accounting policies.\nValuation of Investments\nThe most significant\
\ component of our investments is our Available-for-Sale securities, which we\
\ carry at fair value within our Consolidated Balance Sheets. See\nNote 16 to\
\ our Consolidated Financial Statements for discussion of the fair value of our\
\ Available-for-Sale securities. Financial markets are subject to significant\n\
movements in valuation and liquidity, which can impact our ability to liquidate\
\ and the selling price that can be realized for our securities and increases\
\ the use of\njudgment in determining the estimated fair value of certain investments.\
\ We are unable to predict impacts and determine sensitivities in reported amounts\
\ reflecting\nsuch market movements on our aggregate Available-for-Sale portfolio.\
\ Changes to these assumptions do not occur in isolation and it is impracticable\
\ to predict such\nimpacts at the individual security unit of measure which are\
\ predominately Level 2 fair value and based on observable inputs.\n(1)\n (2)\n\
(1) \n(2) \n34"
- 'Our comprehensive hedging program focuses mainly
on first order sensitivities of assets and liabilities: Equity Market Level (Delta),
Interest Rate Level (Rho) and Volatility (Vega). Additionally, various second
order
sensitivities are managed. We use various options, swaptions, swaps and futures
to manage risk exposures. The exposures are measured and monitored daily, and
adjustments to the hedge portfolio are made as necessary.
To evaluate interest rate and equity price risk we perform sensitivity testing
which measures the impact on pretax income from the sources listed below for a
12-month
period following a hypothetical 100 basis point increase in interest rates or
a hypothetical 10% decline in equity prices. The interest rate risk test assumes
a sudden
100 basis point parallel shift in the yield curve, with rates then staying at
those levels for the next 12 months. The equity price risk test assumes a sudden
10% drop in
equity prices, with equity prices then staying at those levels for the next 12
months. In estimating the values of variable annuities, indexed annuities, stock
market
certificates, indexed universal life (“IUL”) insurance and the associated hedging
instruments, we assume no change in implied market volatility despite the 10%
drop
in equity prices.
65'
pipeline_tag: sentence-similarity
library_name: sentence-transformers
metrics:
- cosine_accuracy@1
- cosine_accuracy@3
- cosine_accuracy@5
- cosine_accuracy@10
- cosine_precision@1
- cosine_precision@3
- cosine_precision@5
- cosine_precision@10
- cosine_recall@1
- cosine_recall@3
- cosine_recall@5
- cosine_recall@10
- cosine_ndcg@10
- cosine_mrr@10
- cosine_map@100
- dot_accuracy@1
- dot_accuracy@3
- dot_accuracy@5
- dot_accuracy@10
- dot_precision@1
- dot_precision@3
- dot_precision@5
- dot_precision@10
- dot_recall@1
- dot_recall@3
- dot_recall@5
- dot_recall@10
- dot_ndcg@10
- dot_mrr@10
- dot_map@100
model-index:
- name: SentenceTransformer based on Alibaba-NLP/gte-large-en-v1.5
results:
- task:
type: information-retrieval
name: Information Retrieval
dataset:
name: Unknown
type: unknown
metrics:
- type: cosine_accuracy@1
value: 0.6062146892655367
name: Cosine Accuracy@1
- type: cosine_accuracy@3
value: 0.8508474576271187
name: Cosine Accuracy@3
- type: cosine_accuracy@5
value: 0.9225988700564972
name: Cosine Accuracy@5
- type: cosine_accuracy@10
value: 0.9711864406779661
name: Cosine Accuracy@10
- type: cosine_precision@1
value: 0.6062146892655367
name: Cosine Precision@1
- type: cosine_precision@3
value: 0.28361581920903955
name: Cosine Precision@3
- type: cosine_precision@5
value: 0.18451977401129946
name: Cosine Precision@5
- type: cosine_precision@10
value: 0.09711864406779663
name: Cosine Precision@10
- type: cosine_recall@1
value: 0.6062146892655367
name: Cosine Recall@1
- type: cosine_recall@3
value: 0.8508474576271187
name: Cosine Recall@3
- type: cosine_recall@5
value: 0.9225988700564972
name: Cosine Recall@5
- type: cosine_recall@10
value: 0.9711864406779661
name: Cosine Recall@10
- type: cosine_ndcg@10
value: 0.7958373595232834
name: Cosine Ndcg@10
- type: cosine_mrr@10
value: 0.7385916061339796
name: Cosine Mrr@10
- type: cosine_map@100
value: 0.7402573835068733
name: Cosine Map@100
- type: dot_accuracy@1
value: 0.6062146892655367
name: Dot Accuracy@1
- type: dot_accuracy@3
value: 0.8502824858757062
name: Dot Accuracy@3
- type: dot_accuracy@5
value: 0.9225988700564972
name: Dot Accuracy@5
- type: dot_accuracy@10
value: 0.9711864406779661
name: Dot Accuracy@10
- type: dot_precision@1
value: 0.6062146892655367
name: Dot Precision@1
- type: dot_precision@3
value: 0.2834274952919021
name: Dot Precision@3
- type: dot_precision@5
value: 0.18451977401129946
name: Dot Precision@5
- type: dot_precision@10
value: 0.09711864406779662
name: Dot Precision@10
- type: dot_recall@1
value: 0.6062146892655367
name: Dot Recall@1
- type: dot_recall@3
value: 0.8502824858757062
name: Dot Recall@3
- type: dot_recall@5
value: 0.9225988700564972
name: Dot Recall@5
- type: dot_recall@10
value: 0.9711864406779661
name: Dot Recall@10
- type: dot_ndcg@10
value: 0.7952805938024372
name: Dot Ndcg@10
- type: dot_mrr@10
value: 0.7378952560308499
name: Dot Mrr@10
- type: dot_map@100
value: 0.7395749514077584
name: Dot Map@100
---
# SentenceTransformer based on Alibaba-NLP/gte-large-en-v1.5
This is a [sentence-transformers](https://www.SBERT.net) model finetuned from [Alibaba-NLP/gte-large-en-v1.5](https://huggingface.co/Alibaba-NLP/gte-large-en-v1.5). It maps sentences & paragraphs to a 1024-dimensional dense vector space and can be used for semantic textual similarity, semantic search, paraphrase mining, text classification, clustering, and more.
## Model Details
### Model Description
- **Model Type:** Sentence Transformer
- **Base model:** [Alibaba-NLP/gte-large-en-v1.5](https://huggingface.co/Alibaba-NLP/gte-large-en-v1.5)
- **Maximum Sequence Length:** 8192 tokens
- **Output Dimensionality:** 1024 tokens
- **Similarity Function:** Cosine Similarity
### Model Sources
- **Documentation:** [Sentence Transformers Documentation](https://sbert.net)
- **Repository:** [Sentence Transformers on GitHub](https://github.com/UKPLab/sentence-transformers)
- **Hugging Face:** [Sentence Transformers on Hugging Face](https://huggingface.co/models?library=sentence-transformers)
### Full Model Architecture
```
SentenceTransformer(
(0): Transformer({'max_seq_length': 8192, 'do_lower_case': False}) with Transformer model: NewModel
(1): Pooling({'word_embedding_dimension': 1024, 'pooling_mode_cls_token': True, 'pooling_mode_mean_tokens': False, 'pooling_mode_max_tokens': False, 'pooling_mode_mean_sqrt_len_tokens': False, 'pooling_mode_weightedmean_tokens': False, 'pooling_mode_lasttoken': False, 'include_prompt': True})
)
```
## Usage
### Direct Usage (Sentence Transformers)
First install the Sentence Transformers library:
```bash
pip install -U sentence-transformers
```
Then you can load this model and run inference.
```python
from sentence_transformers import SentenceTransformer
# Download from the 🤗 Hub
model = SentenceTransformer("sentence_transformers_model_id")
# Run inference
sentences = [
"What critical accounting estimate is highlighted regarding the valuation of investments in Ameriprise Financial, Inc.'s financial statements?",
'Index\nAmeriprise Financial, Inc.\nThe following table reconciles net income to adjusted operating earnings and the five-point average of quarter-end equity to adjusted operating equity:\n \nYears Ended December 31,\n2023\n2022\n(in millions)\nNet income\n$\n2,556 \n$\n3,149 \nLess: Adjustments \n(555)\n264 \nAdjusted operating earnings\n$\n3,111 \n$\n2,885 \nTotal Ameriprise Financial, Inc. shareholders’ equity\n$\n4,116 \n$\n4,170 \nLess: AOCI, net of tax\n(2,297)\n(1,769)\nTotal Ameriprise Financial, Inc. shareholders’ equity, excluding AOCI\n6,413 \n5,939 \nLess: Equity impacts attributable to CIEs\n(4)\n— \nAdjusted operating equity\n$\n6,417 \n$\n5,939 \nReturn on equity, excluding AOCI\n39.9 \n%\n53.0 \n%\nAdjusted operating return on equity, excluding AOCI\n48.5 \n%\n48.6 \n%\nAdjustments reflect the sum of after-tax net realized investment gains/losses, net of the reinsurance accrual; the market impact on non-traditional long-duration products (including\nvariable and fixed deferred annuity contracts and UL insurance contracts), net of hedges and the reinsurance accrual; mean reversion related impacts; block transfer reinsurance\ntransaction impacts; the market impact of hedges to offset interest rate and currency changes on unrealized gains or losses for certain investments; gain or loss on disposal of a\nbusiness that is not considered discontinued operations; integration and restructuring charges; income (loss) from discontinued operations; and net income (loss) from consolidated\ninvestment entities. After-tax is calculated using the statutory tax rate of 21%.\nAdjusted operating return on equity, excluding AOCI is calculated using adjusted operating earnings in the numerator and Ameriprise Financial shareholders’ equity, excluding AOCI\nand the impact of consolidating investment entities using a five-point average of quarter-end equity in the denominator. After-tax is calculated using the statutory rate of 21%.\nThe following table reconciles GAAP total equity to Available Capital for Capital Adequacy:\nDecember 31, 2023\nDecember 31, 2022\n(in millions)\nAmeriprise Financial, Inc. GAAP total equity\n$\n4,729 \n$\n3,803 \nLess: AOCI\n(1,766)\n(2,546)\nAmeriprise Financial, Inc. GAAP total equity, excluding AOCI\n6,495 \n6,349 \nLess: RiverSource Life Insurance Company GAAP equity, excluding AOCI\n1,851 \n2,057 \nAdd: RiverSource Life Insurance Company statutory total adjusted capital\n3,093 \n3,103 \nLess: Goodwill and intangibles\n2,622 \n2,485 \nAdd: Other adjustments\n303 \n299 \n Available Capital for Capital Adequacy\n$\n5,418 \n$\n5,209 \nCritical Accounting Estimates\nThe accounting and reporting policies that we use affect our Consolidated Financial Statements. Certain of our accounting and reporting policies are critical to an\nunderstanding of our consolidated results of operations and financial condition and, in some cases, the application of these policies can be significantly affected by\nthe estimates, judgments and assumptions made by management during the preparation of our Consolidated Financial Statements. The accounting and reporting\npolicies and estimates we have identified as fundamental to a full understanding of our consolidated results of operations and financial condition are described\nbelow. See Note 2 to our Consolidated Financial Statements for further information about our accounting policies.\nValuation of Investments\nThe most significant component of our investments is our Available-for-Sale securities, which we carry at fair value within our Consolidated Balance Sheets. See\nNote 16 to our Consolidated Financial Statements for discussion of the fair value of our Available-for-Sale securities. Financial markets are subject to significant\nmovements in valuation and liquidity, which can impact our ability to liquidate and the selling price that can be realized for our securities and increases the use of\njudgment in determining the estimated fair value of certain investments. We are unable to predict impacts and determine sensitivities in reported amounts reflecting\nsuch market movements on our aggregate Available-for-Sale portfolio. Changes to these assumptions do not occur in isolation and it is impracticable to predict such\nimpacts at the individual security unit of measure which are predominately Level 2 fair value and based on observable inputs.\n(1)\n (2)\n(1) \n(2) \n34',
'Additionally, users can sign up to receive automatic\nnotifications when new materials are posted. The information found on the website is not incorporated by reference into this report or in any other report or\ndocument we furnish or file with the SEC.\nItem 1A. \nRisk Factors\nOur operations and financial results are subject to various risks and uncertainties, including those described below, that could have a material adverse effect on our\nbusiness, financial condition or results of operations and could cause the trading price of our common stock to decline. We believe that the following information\nidentifies the material factors affecting our company based on the information we currently know. However, the risks and uncertainties our company faces are not\nlimited to those described below. Additional risks and uncertainties not presently known to us or that we currently believe to be immaterial may also adversely affect\nour business.\nMarket Risks\nOur results of operations and financial condition may be adversely affected by market fluctuations and by economic, political and other factors.\nOur results of operations and financial condition may be materially affected by market fluctuations and by economic and other factors. Such factors, which can be\nglobal, regional, national or local in nature, include: (i) the level and volatility of the markets, including equity prices, interest rates, commodity prices, currency values\nand other market indices and drivers; \n(ii) geopolitical strain, terrorism and armed conflicts, (iii) political dynamics or elections and social, economic and market\nconditions; (iv) the availability and cost of capital; (v) global health emergencies (such as the coronavirus disease 2019 (“COVID-19”) pandemic); (vi) technological\nchanges and\n16',
]
embeddings = model.encode(sentences)
print(embeddings.shape)
# [3, 1024]
# Get the similarity scores for the embeddings
similarities = model.similarity(embeddings, embeddings)
print(similarities.shape)
# [3, 3]
```
## Evaluation
### Metrics
#### Information Retrieval
* Evaluated with [InformationRetrievalEvaluator](https://sbert.net/docs/package_reference/sentence_transformer/evaluation.html#sentence_transformers.evaluation.InformationRetrievalEvaluator)
| Metric | Value |
|:--------------------|:-----------|
| cosine_accuracy@1 | 0.6062 |
| cosine_accuracy@3 | 0.8508 |
| cosine_accuracy@5 | 0.9226 |
| cosine_accuracy@10 | 0.9712 |
| cosine_precision@1 | 0.6062 |
| cosine_precision@3 | 0.2836 |
| cosine_precision@5 | 0.1845 |
| cosine_precision@10 | 0.0971 |
| cosine_recall@1 | 0.6062 |
| cosine_recall@3 | 0.8508 |
| cosine_recall@5 | 0.9226 |
| cosine_recall@10 | 0.9712 |
| cosine_ndcg@10 | 0.7958 |
| cosine_mrr@10 | 0.7386 |
| **cosine_map@100** | **0.7403** |
| dot_accuracy@1 | 0.6062 |
| dot_accuracy@3 | 0.8503 |
| dot_accuracy@5 | 0.9226 |
| dot_accuracy@10 | 0.9712 |
| dot_precision@1 | 0.6062 |
| dot_precision@3 | 0.2834 |
| dot_precision@5 | 0.1845 |
| dot_precision@10 | 0.0971 |
| dot_recall@1 | 0.6062 |
| dot_recall@3 | 0.8503 |
| dot_recall@5 | 0.9226 |
| dot_recall@10 | 0.9712 |
| dot_ndcg@10 | 0.7953 |
| dot_mrr@10 | 0.7379 |
| dot_map@100 | 0.7396 |
## Training Details
### Training Dataset
#### Unnamed Dataset
* Size: 9,400 training samples
* Columns: sentence_0 and sentence_1
* Approximate statistics based on the first 1000 samples:
| | sentence_0 | sentence_1 |
|:--------|:-----------------------------------------------------------------------------------|:--------------------------------------------------------------------------------------|
| type | string | string |
| details | - min: 12 tokens
- mean: 22.99 tokens
- max: 44 tokens
| - min: 107 tokens
- mean: 671.18 tokens
- max: 977 tokens
|
* Samples:
| sentence_0 | sentence_1 |
|:--------------------------------------------------------------------------------------------------------|:--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| What is the fiscal year end date for Ameriprise Financial, Inc. as stated in the document? | UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
10-K
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
OF 1934
For the Fiscal Year Ended
December 31
, 2023
OR
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
For the Transition Period from_______________________to_______________________
Commission File No.
1-32525
AMERIPRISE FINANCIAL, INC.
(Exact name of registrant as specified in its charter)
Delaware
13-3180631
(State or other jurisdiction of incorporation or organization)
(I.R.S. Employer Identification No.)
1099 Ameriprise Financial Center
Minneapolis
Minnesota
55474
(Address of principal executive offices)
(Zip Code)
Registrant’s telephone number, including area code:
(612)
671-3131
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol
Name of each exchange on which registered
Common Stock (par value $.01 per share)
AMP
New York Stock Exchange
Securities registered pursuant to Section 12(g) of the Act: None
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.
Yes
No
Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act.
Yes
No
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has
been subject to such filing requirements for the past 90 days.
Yes
No
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to
Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was
required to submit such files).
Yes
No
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging
growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of
the Exchange Act.
Large Accelerated Filer
Accelerated Filer
Non-accelerated Filer
Smaller reporting company
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or
revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial
reporting under Section 404(b) of the Sarbanes-Oxley Act by the registered public accounting firm that prepared or issued its audit report.
If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing
reflect the correction of an error to previously issued financial statements.
Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by
any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
Yes
No
The aggregate market value, as of June 30, 2023, of voting shares held by non-affiliates of the registrant was approximately $
34.1
billion. |
| What is the Commission File Number for Ameriprise Financial, Inc.? | UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
10-K
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
OF 1934
For the Fiscal Year Ended
December 31
, 2023
OR
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
For the Transition Period from_______________________to_______________________
Commission File No.
1-32525
AMERIPRISE FINANCIAL, INC.
(Exact name of registrant as specified in its charter)
Delaware
13-3180631
(State or other jurisdiction of incorporation or organization)
(I.R.S. Employer Identification No.)
1099 Ameriprise Financial Center
Minneapolis
Minnesota
55474
(Address of principal executive offices)
(Zip Code)
Registrant’s telephone number, including area code:
(612)
671-3131
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol
Name of each exchange on which registered
Common Stock (par value $.01 per share)
AMP
New York Stock Exchange
Securities registered pursuant to Section 12(g) of the Act: None
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.
Yes
No
Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act.
Yes
No
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has
been subject to such filing requirements for the past 90 days.
Yes
No
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to
Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was
required to submit such files).
Yes
No
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging
growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of
the Exchange Act.
Large Accelerated Filer
Accelerated Filer
Non-accelerated Filer
Smaller reporting company
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or
revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial
reporting under Section 404(b) of the Sarbanes-Oxley Act by the registered public accounting firm that prepared or issued its audit report.
If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing
reflect the correction of an error to previously issued financial statements.
Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by
any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
Yes
No
The aggregate market value, as of June 30, 2023, of voting shares held by non-affiliates of the registrant was approximately $
34.1
billion. |
| What is the trading symbol for Ameriprise Financial, Inc. on the New York Stock Exchange? | UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
10-K
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
OF 1934
For the Fiscal Year Ended
December 31
, 2023
OR
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
For the Transition Period from_______________________to_______________________
Commission File No.
1-32525
AMERIPRISE FINANCIAL, INC.
(Exact name of registrant as specified in its charter)
Delaware
13-3180631
(State or other jurisdiction of incorporation or organization)
(I.R.S. Employer Identification No.)
1099 Ameriprise Financial Center
Minneapolis
Minnesota
55474
(Address of principal executive offices)
(Zip Code)
Registrant’s telephone number, including area code:
(612)
671-3131
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol
Name of each exchange on which registered
Common Stock (par value $.01 per share)
AMP
New York Stock Exchange
Securities registered pursuant to Section 12(g) of the Act: None
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.
Yes
No
Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act.
Yes
No
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has
been subject to such filing requirements for the past 90 days.
Yes
No
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to
Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was
required to submit such files).
Yes
No
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging
growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of
the Exchange Act.
Large Accelerated Filer
Accelerated Filer
Non-accelerated Filer
Smaller reporting company
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or
revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial
reporting under Section 404(b) of the Sarbanes-Oxley Act by the registered public accounting firm that prepared or issued its audit report.
If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing
reflect the correction of an error to previously issued financial statements.
Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by
any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
Yes
No
The aggregate market value, as of June 30, 2023, of voting shares held by non-affiliates of the registrant was approximately $
34.1
billion. |
* Loss: [MultipleNegativesRankingLoss](https://sbert.net/docs/package_reference/sentence_transformer/losses.html#multiplenegativesrankingloss) with these parameters:
```json
{
"scale": 20.0,
"similarity_fct": "cos_sim"
}
```
### Training Hyperparameters
#### Non-Default Hyperparameters
- `eval_strategy`: steps
- `per_device_train_batch_size`: 10
- `per_device_eval_batch_size`: 10
- `num_train_epochs`: 5
- `multi_dataset_batch_sampler`: round_robin
#### All Hyperparameters
Click to expand
- `overwrite_output_dir`: False
- `do_predict`: False
- `eval_strategy`: steps
- `prediction_loss_only`: True
- `per_device_train_batch_size`: 10
- `per_device_eval_batch_size`: 10
- `per_gpu_train_batch_size`: None
- `per_gpu_eval_batch_size`: None
- `gradient_accumulation_steps`: 1
- `eval_accumulation_steps`: None
- `torch_empty_cache_steps`: None
- `learning_rate`: 5e-05
- `weight_decay`: 0.0
- `adam_beta1`: 0.9
- `adam_beta2`: 0.999
- `adam_epsilon`: 1e-08
- `max_grad_norm`: 1
- `num_train_epochs`: 5
- `max_steps`: -1
- `lr_scheduler_type`: linear
- `lr_scheduler_kwargs`: {}
- `warmup_ratio`: 0.0
- `warmup_steps`: 0
- `log_level`: passive
- `log_level_replica`: warning
- `log_on_each_node`: True
- `logging_nan_inf_filter`: True
- `save_safetensors`: True
- `save_on_each_node`: False
- `save_only_model`: False
- `restore_callback_states_from_checkpoint`: False
- `no_cuda`: False
- `use_cpu`: False
- `use_mps_device`: False
- `seed`: 42
- `data_seed`: None
- `jit_mode_eval`: False
- `use_ipex`: False
- `bf16`: False
- `fp16`: False
- `fp16_opt_level`: O1
- `half_precision_backend`: auto
- `bf16_full_eval`: False
- `fp16_full_eval`: False
- `tf32`: None
- `local_rank`: 0
- `ddp_backend`: None
- `tpu_num_cores`: None
- `tpu_metrics_debug`: False
- `debug`: []
- `dataloader_drop_last`: False
- `dataloader_num_workers`: 0
- `dataloader_prefetch_factor`: None
- `past_index`: -1
- `disable_tqdm`: False
- `remove_unused_columns`: True
- `label_names`: None
- `load_best_model_at_end`: False
- `ignore_data_skip`: False
- `fsdp`: []
- `fsdp_min_num_params`: 0
- `fsdp_config`: {'min_num_params': 0, 'xla': False, 'xla_fsdp_v2': False, 'xla_fsdp_grad_ckpt': False}
- `fsdp_transformer_layer_cls_to_wrap`: None
- `accelerator_config`: {'split_batches': False, 'dispatch_batches': None, 'even_batches': True, 'use_seedable_sampler': True, 'non_blocking': False, 'gradient_accumulation_kwargs': None}
- `deepspeed`: None
- `label_smoothing_factor`: 0.0
- `optim`: adamw_torch
- `optim_args`: None
- `adafactor`: False
- `group_by_length`: False
- `length_column_name`: length
- `ddp_find_unused_parameters`: None
- `ddp_bucket_cap_mb`: None
- `ddp_broadcast_buffers`: False
- `dataloader_pin_memory`: True
- `dataloader_persistent_workers`: False
- `skip_memory_metrics`: True
- `use_legacy_prediction_loop`: False
- `push_to_hub`: False
- `resume_from_checkpoint`: None
- `hub_model_id`: None
- `hub_strategy`: every_save
- `hub_private_repo`: False
- `hub_always_push`: False
- `gradient_checkpointing`: False
- `gradient_checkpointing_kwargs`: None
- `include_inputs_for_metrics`: False
- `eval_do_concat_batches`: True
- `fp16_backend`: auto
- `push_to_hub_model_id`: None
- `push_to_hub_organization`: None
- `mp_parameters`:
- `auto_find_batch_size`: False
- `full_determinism`: False
- `torchdynamo`: None
- `ray_scope`: last
- `ddp_timeout`: 1800
- `torch_compile`: False
- `torch_compile_backend`: None
- `torch_compile_mode`: None
- `dispatch_batches`: None
- `split_batches`: None
- `include_tokens_per_second`: False
- `include_num_input_tokens_seen`: False
- `neftune_noise_alpha`: None
- `optim_target_modules`: None
- `batch_eval_metrics`: False
- `eval_on_start`: False
- `use_liger_kernel`: False
- `eval_use_gather_object`: False
- `batch_sampler`: batch_sampler
- `multi_dataset_batch_sampler`: round_robin