Ameriprises wealth management segment continued to build on a strong year of growth in the second quarter.
While rising markets lifted results for many brokerage firms, Ameriprises wealth unit, which includes both the firms employee and franchise advisor channels, reined in $152 million in profit from $1.08 billion in revenue. The segment boosted profits 37% from the second quarter last year despite a 10% increase in expenses and taking a $15 million dollar hit from low interest rates.
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