Although profits fell firm-wide, Ameriprise Financials Advice and Wealth Management arm posted a number of improvements across the board in the third quarter.
The firm navigated a low interest rate environment and volatile markets, pulling in operating earnings of $119 million, up $3 million from a year ago and $8 million from last quarter. Net revenues were up 2% for the year from $938 million to $961 million. Pretax operating margin rose to 12.4%, up from 11.6% last quarter and back on par with where it was last year.
Register or login for access to this item and much more
All On Wall Street content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access