Ameriprise Financial's quarterly profit rises as market rally boosted its fee income

Ameriprise Financial

29/01/2025 22:37

Jan 29 (Reuters) - Ameriprise Financial  AMP.N  reported a 24% rise in fourth-quarter
profit on Wednesday, driven by a higher fee income as the value of its clients' assets increased
due to a market rally.
    The U.S. markets rallied on Federal Reserve's interest rate cuts and they were further
boosted by business-friendly comments from President Donald Trump, who is expected to ease
regulations. 
    Ameriprise's assets under management and administration came in at $1.52 trillion in the
quarter, a 10% jump from last year. 
    The Minneapolis, Minnesota-based firm's management and financial advice fees jumped 19% to
$2.72 billion, while net investment income rose 0.5% to $892 million.
    Adjusted operating earnings rose to $947 million, or $9.36 per share, in the quarter ended
Dec. 31, from $761 million, or $7.20 per share, a year earlier.

 (Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Alan Barona)
 ((JaiveerSingh.Shekhawat@thomsonreuters.com))