Canadian Halal Investor.

NYSE Shariah screener · October 2026

Is Ameriprise Financial, Inc. (AMP) Halal?

FAIL

Ameriprise Financial, Inc. · NYSE: AMP · Financials

The short answer

Ameriprise Financial fails the Shariah screen: it is a conventional interest-based financial institution (bank, certificate company, interest-crediting insurance), with net investment income of about 18.88% of revenue - far above the 5% ceiling. Interest-bearing debt of $3,277 million is 7.38% of its ~$44.43 billion market cap (under the 33% ceiling), but a ratio pass cannot overturn an activity-screen failure.

Gate 1 — Business activity: FAIL

Gate 1 — business activity: FAIL. Ameriprise Financial, Inc., headquartered in Minneapolis, Minnesota, is a financial services company with $1.7 trillion in total AUM, administration and advisement at December 31, 2025. Per its FY2025 Form 10-K, its segments are Advice & Wealth Management (financial planning and brokerage to 3.5 million clients through 10,000+ advisors; banking via Ameriprise Bank, FSB; face-amount certificates via Ameriprise Certificate Company), Asset Management (Columbia Threadneedle Investments, $721 billion managed/advised) and Retirement & Protection Solutions (RiverSource annuities and insurance).

The core business model is interest-based: net investment income on bank and certificate-company assets, net investment income on RiverSource general account assets supporting reserves, fixed annuity profitability driven by the spread between net investment income earned and interest credited, and universal life insurance crediting interest at fixed rates. As a conventional interest-based financial institution, the business fails gate 1.

Gate 2 — Debt and cash: PASS

Gate 2 — interest-bearing debt: PASS (7.38%, ceiling 33%). Per Ameriprise's FY2025 Form 10-K consolidated balance sheet (December 31, 2025, in millions), short-term borrowings of $200 million plus long-term debt of $3,077 million total $3,277 million of interest-bearing parent-company debt. Debt of consolidated investment entities ($2,585 million) is non-recourse CLO debt, and lease liabilities are excluded as they are not interest-bearing debt.

$3,277 million against a market capitalization of about $44.43 billion (MarketBeat, October 1, 2026) is 7.38%, under the 33% ceiling - but the business gate already fails, so this does not change the result. Cash and cash equivalents of $9,953 million plus investments of $58,406 million total about $68.36 billion, reflecting the insurer/bank balance sheet.

Gate 3 — Non-compliant income: FAIL

Gate 3 — non-compliant income: FAIL (18.88%, ceiling 5%). Ameriprise's FY2025 Form 10-K separately discloses "Net investment income" of $3,570 million on its consolidated statements of operations against total revenue of $18,911 million - about 18.88%, far above the 5% ceiling. In Q2 2026, net investment income of $893 million against total revenue of $5,013 million was about 17.81%.

Key figures used

Frequently asked questions

What does Ameriprise Financial do?

Ameriprise Financial, Inc. (NYSE: AMP) is a US financial services company with $1.7 trillion in total AUM, administration and advisement at December 31, 2025. Per its FY2025 Form 10-K, it operates in three segments: Advice & Wealth Management (financial planning and brokerage to 3.5 million retail clients through 10,000+ financial advisors, plus banking and cash management via Ameriprise Bank, FSB and face-amount certificates via Ameriprise Certificate Company); Asset Management (global investment management under the Columbia Threadneedle Investments brand, $721 billion managed or advised); and Retirement & Protection Solutions (annuities and insurance under the RiverSource brand, including variable annuities and universal life insurance). Its common stock trades on the New York Stock Exchange under the symbol AMP - it is not the similarly named crypto token or AMP Limited of Australia.

Is Ameriprise Financial's business Shariah compliant?

No - Ameriprise fails this screener's first gate. It is a conventional interest-based financial institution: the 10-K states Advice & Wealth Management earns "net investment income on owned assets from ACC and Ameriprise Bank," RiverSource earns net investment income on general account assets supporting reserves, fixed annuity profitability depends on the spread between net investment income earned and interest credited, and universal life insurance credits interest at fixed rates. Its banking products (deposits, loans, margin) are interest-based. It is not involved in alcohol, gambling, pork or tobacco, but interest-based banking, insurance and investment-spread activities as the core business model mean the business does not pass gate 1.

How much interest-bearing debt does Ameriprise Financial have?

Per Ameriprise's FY2025 Form 10-K consolidated balance sheet (December 31, 2025, in millions), short-term borrowings were $200 million and long-term debt was $3,077 million, totaling $3,277 million of interest-bearing parent-company debt. (Debt of consolidated investment entities of $2,585 million is non-recourse CLO debt; lease liabilities are excluded as they are not interest-bearing debt.) $3,277 million against a market capitalization of about $44.43 billion is 7.38%, under the 33% ceiling - but the business gate already fails, so the debt ratio does not change the result.

How much interest income does Ameriprise Financial earn?

Ameriprise's FY2025 Form 10-K separately discloses "Net investment income" of $3,570 million on its consolidated statements of operations (2024: $3,648 million; 2023: $3,206 million), against total revenue of $18,911 million - about 18.88%, far above the 5% non-compliant income ceiling. In Q2 2026, net investment income of $893 million against total revenue of $5,013 million was about 17.81%.

What do third-party Shariah screeners say about Ameriprise Financial?

Zoya publishes an Ameriprise Financial (AMP) page and rates it not Shariah-compliant, citing interest income of about $3,575 million against revenue of about $18,912 million (about 18.9%) for FY2025 under AAOIFI guidelines. ShariaPortfolio's stock screener publishes an AMP page (Ameriprise Financial Inc) and rates it not Shariah compliant, citing its involvement in investment management and fund operator activities. I could not verify a published Musaffa rating for Ameriprise Financial from public sources. Third-party screeners apply different assumptions and update on different schedules, and their results can change when new financial statements are published - always check the latest screening before investing.

Sources

Screened 2026-10-02 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.

Screened with our two-gate Shariah screening methodology (business-activity gate, then AAOIFI-style financial ratios).