Ameriprise Financial, Inc. Q3 2026 Earnings Recap

Ameriprise reported higher earnings and assets in Q3, while the stock rose 1.6% after the results—a roughly flat reaction. The quarter featured growth in fee-based assets and advisor productivity, alongside continued investment in technology and expansion through a large bank-channel partnership.

Key Takeaways

• Excluding unlocking, adjusted operating net revenue increased 10% to $5.1 billion and earnings per share rose 22%; return on equity was over 56%, versus 52.8% a year earlier.
• Total assets under management, administration, and advisement reached $1.8 trillion, up 8%. Wealth management client assets also increased 8% to $1.2 trillion, while wrap assets rose 12% to $729 billion.
• Advisor productivity reached a record $1.2 million per advisor, up 13%; Ameriprise recruited 79 experienced advisors during the quarter.
• Ameriprise welcomed about 260 Huntington Bank advisors with $28 billion in client assets. A further 29 advisors and $4 billion in assets are expected to move from Cadence Bank’s program in mid-2027.
• Pledged asset lending increased more than 50% and the mortgage portfolio grew 74%; cash balances remained stable.