Ameriprise Q2 Profit Rises as Market Gains Swell Fee-Generating Assets

Ameriprise Financial (NYSE: AMP) reported a rise in second-quarter profit, benefiting from a market rally that increased the value of its fee-generating assets. The asset and wealth manager announced net income of $1.11 billion, or $11.98 per share, for the three months ended June 30, up from $1.06 billion, or $10.73 per share, in the same period a year earlier.

Fee Growth Drives Earnings

The company's performance was primarily driven by strong growth in its core advisory business. According to its earnings report, management and financial advice fees surged 18% year-over-year to reach $3.06 billion.

This increase in fee-based revenue offset a stagnant performance in other areas. Net investment income remained nearly flat compared to the previous year, coming in at $893 million.

Assets Under Management Expand

The growth in fee income is a direct result of expanding assets under the company's purview, which were lifted by positive market performance. Key asset metrics from the report include:

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• Total assets under management, administration, and advisement grew 14% from a year ago to $1.8 trillion.
• The Advice & Wealth Management division saw its total client assets climb 15% to $1.2 trillion.

For wealth managers like Ameriprise, fees are often calculated as a percentage of assets under management. As market values rise, the base for these fees grows, directly boosting revenue and profitability.

Market Context

Despite the positive earnings report, shares of Ameriprise Financial have gained just over 7% year-to-date in 2026. This performance has lagged the broader S&P 500 index, according to the source material.