Ameriprise Financial (AMP) Misses Q3 EPS by 13c

Ameriprise Financial (NYSE: AMP) reported Q3 EPS of $2.29, ex-items, $0.13 worse than the analyst estimate of $2.42.

“Ameriprise delivered solid results in the third quarter on an operating basis, led by Advice and Wealth Management,” said Jim Cracchiolo, chairman and chief executive officer.

“With good inflows in investment advisory accounts, retail client assets grew to a record high. Experienced advisors continue to move their practices to Ameriprise as our advice value proposition, level of support and capital strength are attractive in this environment. In Asset Management, retail flows have improved in the U.S., and the July volatility in the UK and Europe subsided in the quarter.”

“In a more volatile climate and period of change for the industry, we are managing expenses well and have a strong business to serve our clients and advisors while consistently delivering meaningful shareholder value.”

For earnings history and earnings-related data on Ameriprise Financial (AMP) click here.

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