Ameriprise Financial Stock Earnings Reports

Ameriprise reported a strong third quarter driven by diversified revenue, disciplined expense management and continued investments in digital, advisor capabilities and product expansion. Key financials: assets under management, administration and advisement reached a record $1.7 trillion (up 8% YoY); adjusted operating EPS excluding unlocking rose 12% to $9.92; firm-wide adjusted operating net revenues excluding unlocking increased 6% to $4.6 billion; firm-wide margin was about 27%; and return on equity remains best-in-class at ~53%. Wealth Management assets reached a record $1.1 trillion with wrap assets up 14% and advisor productivity up 10%. Asset Management AUM/A reached $714 billion, with net outflows improving sequentially to $3.4 billion and a margin of 42% for the quarter. Retirement & Protection Solutions delivered steady earnings (~$200 million pretax adjusted operating) and continued strong free cash flow. The bank business has a securities portfolio yield ~4.6% and new purchases yielding ~5.3% (duration ~4.4 years); management expects reinvestment yields in the high-4s to low-5s near term. The firm completed its annual unlocking, increased capital returns (quarterly capital return was increased to $842 million), and is targeting an ~85% payout ratio for Q4 based on current conditions. Balance sheet strength: excess capital approximately $2.2 billion and available liquidity ~$2.5 billion. Operational highlights: launched Signature Wealth platform, rolled out HELOCs and soft-launched checking, expanding analytics/AI (Advice Insights), and continuing advisor recruiting (90 experienced advisors in the quarter). Near-term headwinds/notes: two sizable advisor teams left (moved to RIAs) which impacted flows in the quarter; cash sweep balances were stable; certificates balances have declined from peak and may normalize toward lower levels over time. Management reiterated focus on profitable growth, continued expense discipline (targeting ~3% G&A decline for the year) and opportunistic capital returns, while acknowledging macro uncertainties (inflation, rate moves, geopolitical issues).