Ameriprise Financial’s wealth management business notched strong growth despite what CEO Jim Cracchiolo said was a “challenging operating environment.”
Ameriprise (ticker: AMP) reported Wednesday that GAAP net income dropped 18% to $872 million for the third quarter from $1.06 billion for the same period a year ago. The wealth unit’s adjusted net revenues soared 13% year over year to $2.41 billion thanks to growth in client assets as well as higher investment earnings from cash products, Ameriprise said.
“Wealth…
Read the full article here