Ameriprise Financial quarterly profit rises on higher fee income

July 23 (Reuters) - Asset and wealth manager Ameriprise Financial reported a rise in its second-quarter profit on Thursday, driven by a market rally that boosted the value of its fee-generating assets.

Here are more details from the earnings report:

• Ameriprise's assets under management, administration and advisement came in at $1.8 trillion during the three months ended June 30, up 14% from a year ago.
• Assets under management and the fees earned by managers depend on two factors — money flowing in and out of the funds and the performance of investments.
• Ameriprise's management and financial advice fees rose 18% to $3.06 billion during the second quarter, while its net investment income remained almost flat at $893 million.
• Total client assets at its advice and wealth management business grew 15% to $1.2 trillion.
• Ameriprise's second-quarter profit rose to $1.11 billion, or $11.98 per share, compared with $1.06 billion, or $10.73 per share, a year earlier.
• Shares of the company have gained a little over 7% in 2026, underperforming the broader benchmark S&P 500 index.