Ameriprise Financial (AMP) investor relations material

Executive summary

• Adjusted operating EPS rose 19% year-over-year to a record $11.26, with operating margin at 28% and ROE exceeding 54%.

• Adjusted operating revenues increased 11% to $4.8 billion, and assets under management, administration, and advisement grew 12% to $1.7 trillion.

• Advisor productivity reached a record $1.2 million, up 10% year-over-year, and client satisfaction remains high.

• 88% of operating earnings ($936 million) were returned to shareholders through buybacks and dividends, with a 6% dividend increase approved.

• The firm continues to invest in technology, AI, and new banking products, supporting advisor efficiency and client engagement.

Financial highlights

• Adjusted operating net revenues reached $4.8 billion, up 11% year-over-year; adjusted operating earnings were $1.06 billion, up 12%.

• GAAP net income was $915 million, up 57% year-over-year.

• Adjusted operating margin was 28%; return on equity excluding AOCI was 54.3%.

• Wealth management revenues grew 14% to $3.2 billion; asset management operating earnings increased 13% to $273 million with a 44% margin.

• Retirement & Protection Solutions pretax adjusted operating earnings were $190 million.

Outlook and guidance

• Huntington Bank onboarding in Q4 is expected to add 260 advisors and $28 billion in assets.

• Comerica outflows of $18 billion will be completed by end of Q3; financial impact is immaterial due to a make-whole payment.

• Management targets 85%-90% capital return of operating earnings, with flexibility to increase buybacks if valuation remains attractive.

• Operating effective tax rate expected to be 20–22% for full year 2026.

• Retirement & Protection Solutions earnings expected to remain within target range over time.