Minneapolis-based Ameriprise completes year of progress in advice and wealth management business

February 1, 2020 by Patrick Kennedy

Ameriprise is adding new banking services for its clients as its traditional Advice and Wealth Management segment continues to grow, but the financial-services company saw fourth-quarter net earnings decline in part because of hedges placed on variable annuities.

Accounting for a one-time charge related to the annuities and others, adjusted operating earnings per share rose 11%.

“Ameriprise delivered another strong quarter, completing a year of significant progress. We served more clients in our affluent target market, earned strong asset flows and deepened the personal, advice-based relationships our advisers have with clients,” said Ameriprise CEO James Cracchiolo in a release.

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Originally Posted at Star Tribune on January 31, 2020 by Patrick Kennedy.