Ameriprise Financial Reports 12% Revenue Growth to $5.01 Billion in Q2 2026

Ameriprise Financial, Inc. reported a significant increase in its financial performance for the second quarter of 2026, with total revenues reaching $5.01 billion, a 12% increase from $4.49 billion in the same period last year. The company's net income also rose to $1.11 billion, up 5% from $1.06 billion in the prior year. This growth was primarily driven by a substantial increase in management and financial advice fees, which rose by 18% to $3.07 billion, reflecting higher average equity markets and continued wrap account net inflows.

In comparison to the previous fiscal period, Ameriprise experienced notable changes in its operational metrics. Total net revenues for the first half of 2026 were $9.75 billion, a 12% increase from $8.73 billion in the first half of 2025. The company’s distribution fees also saw an increase of 11%, totaling $1.14 billion, attributed to higher transactional activity and market appreciation. However, premiums, policy, and contract charges decreased by 5% to $682 million, primarily due to lower sales of life contingent payout annuities.

Strategically, Ameriprise has focused on enhancing its market position through various initiatives. The company reported a total of $1.8 trillion in assets under management, administration, and advisement as of June 30, 2026, marking a 14% increase from the previous year. This growth was bolstered by a 19% increase in Advice & Wealth Management assets, driven by equity market appreciation and net inflows. The company also continued its share repurchase program, buying back 3.3 million shares at an average price of $470.84 per share during the first half of 2026.

Operationally, Ameriprise reported a decrease in its employee headcount, with 88.4 million shares outstanding as of June 30, 2026, down from 90.1 million shares in the previous quarter. The company’s banking and deposit interest expense decreased significantly by 39% to $147 million, reflecting lower balances and average crediting rates. Additionally, the company’s effective tax rate increased to 22.8% for the second quarter of 2026, compared to 21.6% in the same quarter of 2025, primarily due to higher state income taxes.

Looking ahead, Ameriprise Financial remains optimistic about its growth trajectory, with management targeting adjusted operating earnings per diluted share growth of 12% to 15% and an adjusted operating return on equity of over 30%. The company continues to navigate a complex economic environment, focusing on leveraging its core capabilities to enhance shareholder value while managing market risks associated with interest rates and equity price fluctuations.