Ameriprise Q3 adjusted EPS rises 14% as assets reach $1.8 trillion

Ameriprise Financial reported third-quarter adjusted operating earnings of $11.26 per diluted share, up 14%, as assets under management, administration and advisement rose 8% to $1.8 trillion. The results were filed Oct. 29, 2026, in an SEC Form 8-K.

Ameriprise and Huntington Bank completed the transition of 258 Huntington advisors to Ameriprise, with $28 billion of client assets transferring through early 2027, according to the earnings release. A further 29 advisors managing nearly $4 billion joined Huntington through its acquisition of Cadence Bank and are due on the Ameriprise platform in mid-2027. CEO Jim Cracchiolo said the firm welcomed more than 250 Huntington advisors this month through its financial institutions channel.

Huntington's 258 advisors average roughly $110 million each across $28 billion, a book that arrives through the financial institutions channel rather than team by team.

A principal recruiting against Ameriprise or defending a team from it is competing with a firm whose bank-channel pipeline now extends into mid-2027. Private Wealth Daily previously reported that Ameriprise and UBS added advisor retention bonuses for 2026-27.

Adjusted operating net revenues rose 10% to $5.1 billion, and the pretax adjusted operating margin was 28%. Ameriprise attributed the revenue growth primarily to asset growth and strong client engagement. Excluding unlocking, adjusted operating EPS rose 22% to $12.07.

GAAP EPS was $12.32, against $9.33 a year earlier. Ameriprise said the figure included favorable market impacts on the valuation of derivatives and market risk benefits, compared with unfavorable impacts a year ago.

The company returned more than $1.0 billion to shareholders in the quarter, or 93% of operating earnings. It also announced a new $5.5 billion share repurchase authorization running through Sept. 30, 2028. Adjusted operating return on equity, excluding accumulated other comprehensive income, was 55.3%.