Operating profits jump 36% at Ameriprise



Quantcast




‘);
}
document.write(‘

  • ‘);
    document.write(‘

  • ‘);
    jQuery(‘.navTab’ + ad_AdvertiserArray.data[adt].advertiserID).click(ad_AdvertiserArray.data[adt], function(eventObj){
    window.location.href = “http://” + hostEnv + “www.startribune.com/weekly-ads/?dppAID=” + eventObj.data.advertiserID;
    });
    jQuery(‘.navTabWa’ + ad_AdvertiserArray.data[adt].advertiserID).click(ad_AdvertiserArray.data[adt], function(eventObj){
    window.location.href = “http://” + hostEnv + “www.startribune.com/weekly-ads/?dppAID=” + eventObj.data.advertiserID;
    });
    }

    ‘);
    }
    dppNavTab.start();



    hide

    Jim Cracchiolo

    CameraStar Tribune photo galleries

    Cameraview larger

    “);
    }
    check=false;
    }
    else
    {
    jQuery(“#senderName2”).removeClass(“fc-field-error”);
    jQuery(“#errorName2”).remove();
    check=true;
    }
    if(!yourEmail.match(“[a-zA-Z0-9!#$%’*+/=?^_`{|}~-]+(?:.[a-zA-Z0-9!#$%’*+/=?^_`{|}~-]+)*@(?:[a-zA-Z0-9](?:[a-zA-Z0-9-]*[a-zA-Z0-9])?.)+[a-zA-Z0-9](?:[a-zA-Z0-9-]*[a-zA-Z0-9])”))
    {
    jQuery(“#senderMail2”).addClass(“fc-field-error”);
    if(jQuery(“#errorMail2”).length

    Please enter your valid email address.

    “);
    }
    check=false;
    }
    else
    {
    jQuery(“#senderMail2”).removeClass(“fc-field-error”);
    jQuery(“#errorMail2”).remove();
    check=true;
    }
    if(!recipientsEmail.match(“[a-zA-Z0-9!#$%’*+/=?^_`{|}~-]+(?:.[a-zA-Z0-9!#$%’*+/=?^_`{|}~-]+)*@(?:[a-zA-Z0-9](?:[a-zA-Z0-9-]*[a-zA-Z0-9])?.)+[a-zA-Z0-9](?:[a-zA-Z0-9-]*[a-zA-Z0-9])”))
    {
    jQuery(“#recipientsEmail2”).addClass(“fc-field-error”);
    if(jQuery(“#errorRMail2”).length

    Please enter recipient valid email address.

    “);
    }
    check=false;
    }
    else
    {
    jQuery(“#recipientsEmail2”).removeClass(“fc-field-error”);
    jQuery(“#errorRMail2”).remove();
    check=true;
    }

    if(check==true)
    {
    jQuery(“.shareLayer”).append(“”);
    jQuery.post(“/mail/”, { “sender_name”: yourName, “sender_email”: yourEmail,”recipient_email”:recipientsEmail,”comment”:comment,”domain”:domain,”path”:path,”contentId”:contentId } ,function(data)
    {
    jQuery(“.shareLayer”).hide(“slow”);
    alert(“your mail has been sent”);

    });
    }
    }

    Ameriprise Financial Inc. reported a second straight quarter of double-digit profit growth, driven by strong stock market gains and an insurance and annuities accounting change it makes every third quarter.

    Operating profits at the Minneapolis-based investment services company jumped 36 percent from a year ago to $392 million, or $1.91 per share, far outpacing Wall Street estimates of $1.73.

    Chairman and CEO Jim Cracchiolo called it an excellent quarter.

    “We are building on the momentum we’ve experienced throughout the year; wealth management is producing strong results and assets under management are up across the firm,” Cracchiolo said in a news release.

    Total assets under management and administration hit $735 billion, up 8 percent from a year ago.

    The company benefited from a big gain in its annuities business, mostly driven by its annual review of insurance and annuity valuation assumptions, typically done every third quarter. Operating profits in its annuities business more than doubled to $219 million compared with a year ago, when the accounting change lowered earnings in the segment.

    But Ameriprise also saw continued strong gains in its asset management and advice and wealth management units. Asset growth in fee-based accounts for retail customers drove operating net revenue in advice and wealth management up 12 percent to $1.1 billion.

    The company said it has relaunched its advertising campaign with actor Tommy Lee Jones.

    Ameriprise markets itself as the fifth-largest branded broker-dealer. Its army of 9,761 financial advisers focuses on the affluent and mass affluent — people with $100,000 or more to invest. Operating net revenue per adviser improved 12 percent to $110,000, it said.

    In contrast, the company’s long struggle with net outflows from its two big mutual fund managers Columbia and Threadneedle continues. Altogether, $4.3 billion more flowed out of the mutual funds in the third quarter than flowed in — more than double the outflows in the previous quarter and 25 percent more than year earlier.

    Jennifer Bjorhus • 612-673-4683

    • get related content delivered to your inbox

    ‘);
    }
    if(jQuery.inArray(‘2611’, userSubsArray ) == -1) {
    document.write(‘

  • ‘);
    }
    if(jQuery.inArray(‘2751’, userSubsArray ) == -1) {
    document.write(‘

  • ‘);
    }

  • manage my email subscriptions
  • ‘);
    }

    “);
    }
    check=false;
    }
    else
    {
    jQuery(“#senderName3”).removeClass(“fc-field-error”);
    jQuery(“#errorName3”).remove();
    check=true;
    }
    if(!yourEmail.match(“[a-zA-Z0-9!#$%’*+/=?^_`{|}~-]+(?:.[a-zA-Z0-9!#$%’*+/=?^_`{|}~-]+)*@(?:[a-zA-Z0-9](?:[a-zA-Z0-9-]*[a-zA-Z0-9])?.)+[a-zA-Z0-9](?:[a-zA-Z0-9-]*[a-zA-Z0-9])”))
    {
    jQuery(“#senderMail3”).addClass(“fc-field-error”);
    if(jQuery(“#errorMail3”).length

    Please enter your valid email address.

    “);
    }
    check=false;
    }
    else
    {
    jQuery(“#senderMail3”).removeClass(“fc-field-error”);
    jQuery(“#errorMail3”).remove();
    check=true;
    }
    if(!recipientsEmail.match(“[a-zA-Z0-9!#$%’*+/=?^_`{|}~-]+(?:.[a-zA-Z0-9!#$%’*+/=?^_`{|}~-]+)*@(?:[a-zA-Z0-9](?:[a-zA-Z0-9-]*[a-zA-Z0-9])?.)+[a-zA-Z0-9](?:[a-zA-Z0-9-]*[a-zA-Z0-9])”))
    {
    jQuery(“#recipientsEmail3”).addClass(“fc-field-error”);
    if(jQuery(“#errorRMail3”).length

    Please enter recipient valid email address.

    “);
    }
    check=false;
    }
    else
    {
    jQuery(“#recipientsEmail3”).removeClass(“fc-field-error”);
    jQuery(“#errorRMail3”).remove();
    check=true;
    }

    if(check==true)
    {
    jQuery(“.shareLayer”).append(“”);
    jQuery.post(“/mail/”, { “sender_name”: yourName, “sender_email”: yourEmail,”recipient_email”:recipientsEmail,”comment”:comment,”domain”:domain,”path”:path,”contentId”:contentId } ,function(data)
    {
    jQuery(“.shareLayer”).hide(“slow”);
    alert(“your mail has been sent”);

    });
    }
    }

    ADVERTISEMENT

    • Most read
    • Most Emailed
    • Most Watched

    <![CDATA[

    ]]>

    Connect with twitterConnect with facebookConnect with Google+Connect with PinterestConnect with PinterestConnect with RssfeedConnect with email newsletters

    ADVERTISEMENT

    ADVERTISEMENT

    ADVERTISEMENT

    ADVERTISEMENT

    ADVERTISEMENT

    ADVERTISEMENT



    inside the StarTribune


    local

    2013 Minneapolis election coverage


    vita.mn

    Annual Vita.mn Restaurant Guide


    lifestyle

    Kid’s’ Health: Latest news and advice


    lifestyle

    Best of MN 2013: Guide to state’s finest


    news graphics

    Interactive map: Finding best gas prices in metro


    local

    Follow Star Tribune on social media


    • 425 Portland Av. S.

      Minneapolis, MN 55488

      (612) 673-4000

    StarTribune.com is powered by Limelight Networks





    Close


    Tags:

    Wednesday, October 30th, 2013 EN

    No comments yet.

    Leave a comment

    You must be logged in to post a comment.