Thanks us. you, and joining Thank for good everyone. Alicia, morning,
We've strong in to perform saw completing good of the delivered Ameriprise continues a you our release half first As another year. quarter earnings well.
themes. important a I'll discuss few Today,
business our Ameriprise leading the First, end engine. management our growth It's the and front wealth way. is of
deliver space. growing in Second, businesses annuity both strong free complement our leadership management management asset quality and wealth our competitive cash They high the profitability flow. insurance and
generation excellent And third, an we have capital financial which provides and flexibility. important foundation
to growth value to shareholder. returning capital up continue invest take generate shareholder of significant accelerate to amounts capital, our We while free steps to and
Turning from Fed to rates the in down rates have pullback may quarter. Long-term short-term economy markets looks improve. first the continues near-term. to also the Equity have nicely cut the the half recovered operating come the fourth as and it in in the though environment; interest
the During achieved new quarter we some milestones.
billion administration billion, to and management under reached X% and of retail Advice Wealth more Assets than high also and $XXX Management grew new all-time a record. $XXX client assets an
growth Additionally, it our ROA maintained higher have basis we of points leading taken track long even record. delivered double-digit EPS last an increase and of on XXX XX%, XX% over the to industry year. building We've
is with growth. wealth start management our Let's driving which
is highly based Ameriprise. advice Our effective approach comprehensive and relevant, uniquely
by is suite evolving approach clients solutions broad needs. in supported relationships Our and meet of anchored to a strong personal
assets Importantly, clients lifestages their planning. through income growth and asset estate from preservation, as to needs evolve remain generation in Ameriprise
share an Wallets by of is terms top wallet a a in recent research average from fact, customers report ages. performer found of & In all across of Hearts Ameriprise
reinforces across at we only not of how clients. a investors serve range work serve revenues and an business our service full time is operate cycles. distinction many with market providers. derive This multiple This we choosing important needs, financial We are the for consistent clients to when also recognition
we're forgiveness, trust, loyalty. investment Temkin customer the in complements where in credential one number and number consumer in number and one across industry customer one It one our service, Ameriprise number
advisors are out also Our in the standing industry.
service including Forbes. the and for the rankings recognized excellent top to Ameriprise their Financial in prominent So marketplace have far this and Barron's, Times advisors see year earned XXX proud client recognition advisors I'm our practice in success. industry
revenue meaningful earnings delivery In invest and while of the financials we growth we're future. for terms
AWM include you contributions fact, our from XX% of complementary generates businesses. when In revenue wide firm nearly
which best strong the nearly margin remains at AWM XX% in is wealth Our among management.
One of our key growth fee-based is drivers advisory.
XX% nearly were billion. to Assets $XXX
billion ninth $X net billion. we consecutive new in of more had advisory, than of our inflows quarter In $X.X fact,
where Another important with strong we delivered new growth extensive X% metric coupled Ameriprise a is help high, the delivered flows excellent drive productivity a advisor quarter-after-quarter. client productivity record support We've provides increase.
experienced recruiting, advisors. advisor Regarding we welcome XX
they bringing time XX% in continues last brought value As than productive a advice were of producers this our appreciate and track our the who proposition. year. Ameriprise in advisors we This group larger more brand record
serve strong We million I capabilities $XXX,XXX feel in relationship with to advisor, firm. assets by in advice significant value good backed see especially about our opportunity the those who trusted ability grow. a investable clients a to with $X more results and and to
We're significantly include in experience. spring enhancing with them our experience training. In with our advice out digital also investing investments new These rolling along we client early began capabilities. extensive
clients their practices. Advisors for forward success. with of early it success their uptake about initial the are also in lives building sharing advisor and different the looking in We're to stories stages this and makes on me
is relationship easier advisors we'll to This will engage through Another management system client progress. make personalized advisors help contacts, integrated with that client consolidate for to we're customer fall. discuss you our it the and define client's contact. key track This new and out platform data even investment manage rolling
investment our a second in where work program year can We're introducing for clients. the we freeing integrate our various Later relationship advisors we're the advisory effort quarter. to up one launched fully from taking customer steps advisory bank this cohesive better together programs different strategies multiple and to serve program time to platform. also And moving
than market price base balance well in our add we'll this Later billion XXXX cash brought sheet. of product, And new in year on money mortgages, cards, deposit balances and lending. as $X sweep June, credit more as
an what position we Ameriprise what further and doing wealth is a today advice leading manager. excellent reputation. as to energized strengthen with I'm leader have well-established we're about our a
good have continue targeted we management we've a income and deliver performing improvement competitive where pockets fixed to seen asset allocation high had on which we equities, this focus lineup and across we to well. where year bodes opportunities. turn strategies of and Now, Overall, profitability asset I'll underperformance growth
records Our overall remain investment and competitive strong. track
In that flows terms we outflows in last quarters. the two the improvement experienced from an seen level we've of of
that top Our such America dividend a income. market opportunities with flows improved we're intermediary firms as emphasis of share strategic into mortgage in our income, good more several North and municipal strategies where placing income,
in We're investment to more think beginning in outflows strategies we where both number In a in can in and We month fact, of of quarter. prominently. the traction saw these others the reduction fixed we a even our I've even position we gain more mentioned strategies meaningful each performance. have good income
UK, of risk Brexit Italy with That said, the impacted and outflows in trade The Europe ongoing stabilized in of the have improvement Spain. and Benelux, uncertainty outflows.
net You quarter. in environment won a where also In that institutional, UK bit the have of where reflecting were seen $X cautious. the equities funding billion occurring the market third may investors mandate we with the outflows majority more a
in institutional we're grow business investment said, good levels we've won that building making to are That business quarter. with mandates. delivery the We're in also SMA a invested global solutions fee working line pipeline progress We're the our in. our model we some where mandates in and
We now assets advisement. under have billion more $XX in than
seen in a in million areas won these outflows. where quarter. know are progress. was new as few good we And not mandate These the mandates you XXX addition included In are
these billion continue. active remain industry And and the as $XXX quarter overall Columbia you for know earnings managers headwinds under assets Despite we strong management. Threadneedle ended pressures with in
to We're remains range. competitive where investing that and net adjusted long-term of within offset help see and our business we targeted and our and XX.X% experiencing Brexit Our in UK reengineering operating regulatory very others this growth are higher opportunities margin the from in we Europe. expenses benefiting
run with are replenish to business insurance businesses diversification stability. a long-term Ameriprise of annuities as books seasoned earnings strong mind, businesses flows this and are with regard for flows perspective. well-managed company. of part free and provide They books. in Keep client generating we these that a cash These With
from annuity by the quarter saw With sales driven while first our pickup year. were variable VUL down and from And flows improvement VUL. the a the were we quarter down last to in year-over-year regard UL
Given results these expect. what the we would environment are
to variable We We characteristics. serve our clients Ameriprise risk therefore hedge differentiated built guarantees. have business effectively annuity the and
net as the risk of lowest percent major value account one annuity In of variable is fact, at writers. among amount our
book. our regard to we long-term our With care business managing proactive be continue in to
year, Auto on the close this The the current to improved we than increases in In saw and Home greater years. to we and and results adjustments transaction fact continues we're benefit track in quarter. fourth past rate show business did
are That growth strength cash and capital reinvest brings and clear that return shareholders. to differentiators. generating to me flexibility. for we free a substantial flow Both We're
our track capital us expect strong can continue to You management. record build on of to
adjusted our dividends of return buybacks steadily As and we've to annually. XXX% we've grown shareholders consistently earnings through increasing about operating
up up we've freeing to this capital In our on last you. shared with additional we based began buyback what quarter consistent take
an We generate excellent to to are in value. shareholder continue position
Our levels. attractive opportunities the Continue in are return shareholders evaluating at maintaining front priorities on inorganic investing and capital business, capital the in clear. to a
in few has public the pleased a very I'm U.S. that companies to share anniversary, Lastly, reached Ameriprise June in reached XXXth milestone. this
and constantly evolved. have believe always for and it's to than needs been have a we've century because proud put more I in client's We're business first
of about ahead, to energized financial As and strength business we opportunity look the our our growth the we're future the foundation.
numbers. the take will through you Walter Now,
