Very strong competitive position supported by highly diversified business profile Well-established distribution network with more than 9,900 financial advisors Very strong operating performance benefitting from high margins from asset management and wealth management lines Very strong capitalization, but limited capital redundancy at the 'AA' level due to higher excess debt-funded double leverage High financial leverage though supported by solid fixed-charge coverage Tightly managed liquidity profile due to a significant amount of liabilities with low or no surrender charges S&P Global Ratings' ratings on Ameriprise Financial Inc. (AMP) reflect the group's very strong business risk profile (BRP) and financial risk profile (FRP), leading us to an anchor of 'aa-'. We base our ratings on AMP's multiline business profile with above-peer earnings
