Ameriprise Financial Services Stock Earnings Reports

Ameriprise delivered a strong Q1 2026: adjusted operating revenues rose 11% to $4.8 billion, adjusted operating EPS increased 19% to a record $11.26, and return on equity exceeded 54%. Assets under management, administration and advisement grew 12% to $1.7 trillion; client assets grew 12% to $1.1 trillion and wrap assets grew 16% to $664 billion. Adviser productivity hit a record $1.2 million per adviser (up 10%). Net flows were mixed: wrap net inflows were $6 billion and total client flows were $4.2 billion, but results included lumpiness from adviser terminations tied to the Comerica acquisition (roughly $18 billion of Comerica assets to transition off the platform by end of Q3) and an expected Huntington Bank onboarding of ~260 advisers and ~$28 billion in assets in Q4. Management emphasized disciplined, organic growth, selective recruiting (cautious on aggressive payout deals), and continued multiyear investments in technology and an integrated adviser platform with embedded AI to boost adviser productivity and client engagement. Asset Management saw improving flows, revenues up 8% (AUM/A adv up 8% to $706B) and a strong margin (44%) driven by transformation initiatives; Retirement & Protection remains a steady-margin, cash-generative business (targeting ~ $800M earnings over time). Capital returns remain a priority: in Q1 Ameriprise returned 88% of operating earnings via buybacks and dividends, repurchased shares opportunistically, and the board approved a 6% dividend increase. Balance sheet liquidity/excess capital stands at ~$2.3 billion. Key risks/near-term headwinds include market volatility, lumpiness from adviser recruiting/terminations (notably Comerica), and competitive pressure in recruiting that management is addressing with a disciplined ROI-focused approach.