For the latest quarter period, its operating earnings stood at $338m, or $1.59 per diluted share, compared to $335m, or $1.45 per diluted share, during the same period a year ago.
Net revenues grew by 4% to $2.6bn, due to strong Ameriprise client net inflows and market appreciation, partially offset by the decline in net investment income from low interest rates and the company’s decision to end certain banking operations last year.
Return on shareholders’ equity excluding accumulated other comprehensive income (AOCI) was 14% for the 12 months ended on 31 March 2013.
Ameriprise Financial chairman and CEO Jim Cracchiolo said, "Our fee-based businesses are leading our growth with a very good quarter for our wealth management business where we are generating strong advisor productivity and client net inflows."
Advice & Wealth Management pretax operating earnings rose by 39% to $131m, while operating net revenues surged by 7% to $1bn driven by retail client net inflows and market appreciation.
Asset Management pretax operating earnings grew by 10% to $144m, while operating net revenues increased 5% to $746m.
Ameriprise Financial operates as a financial holding company offering services through its subsidiaries including financial planning, cash and liquidity, asset accumulation, income, protection, and estate and wealth transfer needs.
