By Tess Stynes
Ameriprise Financial Inc. said its fourth-quarter earnings rose
44% as the financial-service company continued to benefit from a
strong performance its advice-and-wealth-management business.
Overall, Ameriprise Financial reported a profit of $425 million,
or $2.22 a share, up from $296 million, or $1.46 a share, a year
earlier.
Per-share operating earnings, which exclude realized gains and
losses, market effects on variable annuity benefits and other
items, rose to $2.30 from $1.87.
Revenue increased 4.9% to $3.09 billion.
Analysts polled by Thomson Reuters expected per-share profit of
$2.21 and revenue of $3.06 billion.
Advice-and-wealth-management fees rose 6.6% to $1.49
billion.
Assets under management and administration increased 5% to $806
billion.
The company's advice-and-wealth-management segment has helped
Ameriprise post higher operating earnings in recent years, as have
contributions from the company's acquisition of the long-term
asset-management business of Columbia Management from Bank of
America Corp. in 2010.
Write to Tess Stynes at tess.stynes@wsj.com
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