Ameriprise Financial (NYSE:AMP) reported a landmark fourth quarter, with surging asset levels and rigorous expense management driving operating earnings to an all-time high.
The Minneapolis-based wealth manager posted record fourth-quarter adjusted operating earnings of $10.83 per diluted share, a 16% jump from the previous year, capping a 2025 fiscal year that saw annual operating EPS climb 14% to $39.29.
The firm’s growth was underpinned by a record $1.7 trillion in assets under management, administration, and advisement, an 11% increase fueled by strong client engagement and market appreciation.
This scale propelled adjusted operating net revenues up 10% to $4.9 billion for the quarter, while the company maintained a formidable pretax adjusted operating margin of 27%.
While GAAP net income per diluted share for the quarter softened slightly to $10.47 compared to $10.58 a year ago, the full-year GAAP results told a different story, rising to $36.28 from $33.05 in 2024.
The company’s balance sheet also remained a point of strength, boasting a best-in-class adjusted operating return on equity of 53% and significant excess liquidity at the holding company level.