July 23 - Ameriprise Financial said its second-quarter profit increased as the market rebound raised the value of assets that generate fees for the firm. The boost to fee-bearing assets translated into higher management and advice revenue for the quarter ended June 30.
Asset levels and revenue drivers
The company reported combined assets under management, administration and advisement of $1.8 trillion for the quarter, a 14% rise from the same period a year earlier. Total client assets at Ameriprise's advice and wealth management business reached $1.2 trillion, up 15% year-over-year.
Ameriprise highlighted that the fees managers collect are driven by two main factors: net flows into and out of funds, and how investments perform. In the quarter, the firm saw an 18% increase in management and financial advice fees, which rose to $3.06 billion. By contrast, net investment income was largely flat at $893 million.
Earnings and share performance
Net profit for the second quarter came in at $1.11 billion, or $11.98 per share, compared with $1.06 billion, or $10.73 per share, in the prior-year period. The firm attributed the rise in profit to the higher value of fee-generating assets amid the market rally.
On a market-performance note, Ameriprise shares have increased a little over 7% so far in 2026, a pace that trails the broader S&P 500 index.
Contextual note
The firm's results underscore the close linkage between asset values and fee revenue: when markets lift asset prices, fee pools expand and management fees typically follow. At the same time, components such as net investment income may show limited movement even as fee revenue rises.
Bottom line
Ameriprise's second-quarter results reflect higher fee income stemming from greater asset values, steady levels of net investment income and continued growth in client assets at its advice and wealth management business.