Ameriprise Financial's quarterly profit rises on higher fees, AUM [Reuters]
Ameriprise Financial, Inc. (AMP)
Last ameriprise financial, inc. earnings: 1/29 04:10 pm
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Source: Reuters
, opens new tab reported a rise in its first-quarter adjusted profit on Monday, helped by higher fees and assets under management (AUM). Growing expectations of a soft landing for the economy — a scenario where inflation eases without causing unemployment to go up — have buoyed markets in recent months, aiding the fee-based income for financial advisers such as Ameriprise. The company's management and financial advice fees rose 12% to $2.4 billion in the quarter ended March 31, while its total client assets rose 19% to $954 billion. Ameriprise's assets under management and administration also climbed 15% to $1.4 trillion, driven by strong client net inflows and market appreciation. Its wealth management practice primarily targets households with $500,000 to $5 million in investable assets. The company's adjusted operating earnings rose to $878 million, or $8.39 per share, in the three-month period, from $798 million, or $7.25 per share, a year earlier. Get a look at the d
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AMP
Earnings
- 4/22/24 - Beat
AMP
Sec Filings
- 4/26/24 - Form 4
- 4/26/24 - Form 4
- 4/26/24 - Form 4
- AMP's page on the SEC website