Ameriprise Financial Q4 Earnings Surge 24% on Higher Fees and Asset Growth
Ameriprise Financial experienced a 24% increase in fourth-quarter profits, driven by higher fee income from assets under management that rose due to market gains.
The improved market conditions resulted from interest rate cuts by the Federal Reserve and supportive statements from President Trump regarding business regulations. Ameriprise's assets under management and administration reached $1.52 trillion during the quarter, a 10% increase year-over-year.
Management and financial advice fees soared by 19% to $2.72 billion, while net investment income grew modestly by 0.5% to $892 million. Adjusted operating earnings climbed to $947 million or $9.36 per share for the quarter ended December 31st, compared to $761 million or $7.20 per share in the prior year.