$AMP · AMERIPRISE FINANCIAL INC
Ameriprise Financial reported Q3 FY2026 net income of $1.126B ($12.32 diluted EPS), up 23% from $912M ($9.33) a year ago. Total net revenues grew 6.8% to $5.117B, led by management and financial advice fees at $3.230B. Advice & Wealth Management wrap account assets ended at $728.9B, up 9% from year-end 2025 on $40.7B in market appreciation and $17.8B in net flows.
- Q3 diluted EPS of $12.32 vs $9.33 a year ago, a 32% increase.
- Total net revenues rose 6.8% YoY to $5.117B, driven by management and financial advice fees up 15%.
- Advice & Wealth Management adjusted operating earnings grew 16% to $2.879B for the nine months.
- Advisory wrap account assets reached $728.9B, up $58.5B or 9% from year-end 2025.
- Total comprehensive income swung to a loss of $240M in Q3 due to $1.605B in unrealized securities losses (net of tax).
Shares down 2.29% to $486.47 despite strong operating results. The $1.605B net unrealized loss on securities flowing through OCI — producing a total comprehensive loss of $240M — likely overshadows the earnings beat for a rate-sensitive financial.
Ameriprise's core wealth franchise is firing on all cylinders with 18% average advisory asset growth, but the ballooning OCI deficit from rate-driven securities marks creates a tension between reported earnings power and book-value erosion.
Ameriprise's AWM segment mirrors the broader wealth-management trend of fee-based revenue growth, with advisory wrap assets up 18% on average. The OCI hit from securities marks is consistent with rate-sensitive balance sheets across the life/wealth space.
Rising rates drove $1.605B in net unrealized securities losses (net of tax) in Q3, pushing total comprehensive income to a $240M loss. Accumulated OCI deficit widened to $2.642B from $892M at year-end 2025, eroding book value.