Q2 2026 Ameriprise Financial Inc Earnings Call Transcript
Key Points
- Ameriprise Financial Inc (AMP) reported a 13% increase in revenues to nearly $5 billion, driven by strong asset growth and client advisor engagement.
- Adjusted operating earnings rose by 14% to $1 billion, maintaining attractive margins and supporting continued investment in new product solutions, technology, and service.
- EPS increased by 22% to $11.07, demonstrating strong operating earnings growth and exceptional shareholder returns.
- Assets under management and administration advisements grew to $1.8 trillion, a 14% increase, showcasing the firm's robust asset growth.
- Advisor productivity reached a new record, increasing by 12% to $1.2 million, supported by excellent client experience and advisor partnership.
- The company faced challenges with advisor transitions, including the impact of Comerica, which affected overall flows in the quarter.
- The recruiting market remains highly competitive and non-economic, with aggressive deals offering long cash paybacks, impacting inorganic growth.
- Total client flows were softer, influenced by accelerated roll-off of Comerica and elevated tax payments.
- Despite strong performance, the asset management segment experienced net outflows of $6.5 billion, although this was an improvement from previous quarters.
- General and administrative expenses increased by 5% to $982 million, driven by volume-related expenses and higher compensation costs.
Welcome to the second quarter 2026 earnings call. My name is Rebecca, and I will be your operator for today's call. (Operator Instructions) As a reminder, the conference is being recorded. I will now turn the call over to Stephanie Rabe. Stephanie, you may begin.
Welcome to Ameriprise Financial's second-quarter earnings call. On the call with me today are Jim Cracchiolo, Chairman and CEO; and Walter Berman, Chief Financial Officer. Following their remarks, we'd be happy to take your questions.
Turning to our earnings presentation materials that are available on our website, on slide 2, you will see a discussion of forward-looking statements.
Specifically, during the call, you'll hear references to various non-GAAP financial measures, which we believe provide insight into our company's operations. Reconciliation of non-GAAP numbers to their respective GAAP numbers can be found in today's materials and on our website at ir
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