Ameriprise Financial reported third‑quarter 2025 earnings, posting GAAP net income of $912 million and earnings per diluted share of $9.33. Adjusted operating earnings reached $965 million, or $9.87 per share.
Total revenue rose 12.6% year‑over‑year to $4.89 billion. Client assets increased 7% to a record $1.138 trillion, and client net flows grew 10% to $6.5 billion, reflecting strong demand for advisory services and investment products.
Adjusted operating margin improved to 52.8% from 49.6% in the same period last year, driven by disciplined expense management and operational efficiencies across the organization.
Segment performance: Advice & Wealth Management generated $2.99 billion in adjusted operating net revenue, up 9% YoY; Asset Management earned $906 million, up 3% YoY; Retirement & Protection Solutions reported $1.10 billion, up 13% YoY.
Management highlighted continued focus on client experience, disciplined expense management, and a strong capital return strategy. The firm maintained a robust free cash flow position and reaffirmed its commitment to returning capital to shareholders while investing in digital and AI capabilities to enhance advisory services.
The company noted competitive pressures in the wealth‑management industry and regulatory developments that could impact fee structures, but it also identified opportunities in expanding digital platforms, attracting new advisor talent, and leveraging technology to improve operational efficiency.
Ameriprise was recognized by J.D. Power for outstanding customer service and named one of Newsweek's "America's Greatest Companies for 2025," underscoring its reputation for client satisfaction and operational excellence.
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