I'm us. our team. the morning, Clearly, globally. and Good We've the ones priority and of advisors and thank of been serving business staying home our has responded pandemic. as has maintain are you your quickly From with how start, very able safe very to client planning clients continuity and this as loved to our health challenging Ameriprise and this been strong been XX% approximately healthy. and period joining proud extraordinary substantial We've well well I hope staff field an mid-March. and for you our has disruption. from from of working and benefited Ameriprise little in to the advisor investments engagement employees, safety shifted and
technology Our been capabilities have outstanding.
collaboratively of tough offer we substantial stay their solutions excess the are this in teams helping Our our work investment strength clients on this environment. foundation. portfolio. and value markets. focused ideally The and maintain proposition advice are large We navigate a position, and with goals seamlessly environment, We're and excellent financial and operating working virtual liquidity long-term high-quality a for suited we're an capital
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Ameriprise well, are and operating we a crisis, this strong position. During is in I believe
In terms clearly, economic there headwinds. markets backdrop, of are and the
year-over-year. The March, quarter markets XX% has aggressive, short-term zero. near XX% two with Fed were first interest quite rates declines But The equity sequentially basis strong. cutting ended points by the been including the down XXX in to and months
the saw optimism around reopening. in on markets We April in equity improvement some
orders, volatility. However, the elevated and impacts we're and environment with challenging of shutdown to seeing the stay-at-home expect economic remain we the
a record first pace. the started the quarter. discuss Let's We on quarter
a up X%. growth basis, good Home, from was adjusted delivered headwinds, with ex On results. ago. Auto year even highlighted, benefit tax operating XX% XX%, ex revenue including and grew of an the with EPS AOCI, net ROE, we we delivered And Earnings up market we & the XX.X%, XX.X% and
billion, quarter the decline point-to-point in significant ended administration down and management X%, equity markets. the under assets at Our $XXX reflecting
was by this offset client flows. partially strong However,
at year margin, to turn total our with want to and an cut lower last we even after I move and will equity March. XX.X%, markets differentiate I continue to economic at look you Management recovery. rate the impact if through in and is us as line interest that's Wealth And of the it what in believe
facing, real few very really We're our on are is when track paying on the keep in business challenges in environment. those this made With clients dividends our and and we over we've and The good this XXXX are goals. helping out. the advisors focused long-term their accelerated clients stand last investments years
ongoing We Advice we in which advisors significant clearly, tracking, helping growth growth capabilities, net all and platform, stay activity despite & our websites quarter productive. clients of inflows Our apps our and include strong digital are growth their relationships delivered revenue in and mobile with gold a Wealth had and cloud Very maintain the CRM X%, Management accounts fee-based and into meaningful March. good strong earnings dislocation in levels. strong good
maintained good basis, On we margins. very a relative
In AWM interest our XX%. fact, margin others, remained impact above profitability. Like rates will short-term
engagement, banking activity client our our continuing to and margins. advisor for which beginning strong positives and productivity operations, are are up generate good nicely, ramp strength of continued the to However,
we're metrics relationships. and and It advisory a investment financial quarter, for advisor saw activity engage quarters to and of aligned in see with ex accounts growth to the X% As as one $X more bank. transactional in more we will in good good tightly We went was compares than This X% the the best levels revenue revenue remain environment. and at us back more rate in client into quarter, very record. managing We manage growth to advice favorably growth our had in you net And continue expenses AWM. the a normal in in planning expenses can clients our about client billion pickup total AWM. with inflows
capabilities. in client X%, the and in slowed we these back continued Client solid, to to brokerage activity volatility. to pullback, billion April. Growth March April, cash Even flows leveraged in the work market XX% up cash expect given Advisor would our future. than productivity were built cash as and assets increased to clients put be increased and as that in balance with close advisors in $XX more market
look Our advisors them are opportunities. working adjust to them for and help clients closely with keep focused,
XX experienced, On front, the highly the pipeline quarter, good. recruiting in we and the from the advisors industry across looks productive very attracted
climate, able the have are COVID-XX recruiting virtual recruiting recruit crisis high and and who onboard the but to engagement been to opportunities. created successfully. has Ameriprise. pleased moved also challenges very from the We advisors Regarding by interested in advisors We're
strength attractive certainly comprehensive slowdown in environments, for in an value previous proposition us recruiting may challenging makes financial be As and the advisors. destination experienced There near-term. in our advisor a
capabilities a high-quality support as very Again, a grow in making all we record term, this opportunity advisors change firm consider helping advisors and thrive. track been of able during well see place. with some put to of longer an we've and But with we seek and a period the operate
have well and Our the new we how when well have their crisis mobilized them as advisors clients. been recruits impressed as Ameriprise broke how and effectively with and supported quickly
in The brought our well, Ameriprise We sweep to $X grow $X that mortgage on beginning client base. also of build and we program sheet, test balances and the continue card our the cash quarter, grow bringing more to total balance to more for roll our the We billion. than the over In portfolio, billion we are bank. to broadly on out went focusing the quarter. second began
proactive strong And our line part right adjustments, & Insurance the latter We're appropriate regard ensuring very In with cash delivering we're free of businesses to Annuity the implemented The and our strong we've year. earnings planning we in making this environment, our in for pledge generating across the underwriting pricing been solid maintaining have loans solutions, climate. management focus to in low risk in be rate this and expectations are we're interest books. they're flow. these and for the
a ago products cash with without Annuities, a XX% up benefit from of sales year living toward mix In were terms guarantees. variable annuity shift
life annuity continue a shift launched and January, and new even In uptake product. will the We to in good structured further. Protection, VUL solution we're getting grow in sales our accelerate
As variable appropriate. made benefit and rate have pricing adjustments we to reductions cap and with underwriting annuities, our We've changes. as made also
discipline. will our is risk management being consistent So overall, and the do with takeaway proactive to that continue we're so
Moving year, good on were to a seamless a way. and in move We start January global built a remotely the operate off to had record of quarter. a we to February, that basis able progress last made Asset Management. After in we've
intermediary informed advisors perspective. We've an and and institutional engaged we've We the reinforcing partners been our consultants, can partners. with investors, right been teams the distribution providing benefited ensure investments key with strategies our very from and support the to our strength of making communicate
in quarter, the to very retail delivered increase for sales the retail globally compared being of we in January The In which is February. a year gross led positive momentum in firm ago, strong XX% to and a billion strong. $X terms sales
retail in pickup flows negative derisk turned to portfolios. clients a in their due March as However, redemptions
leading to through existing saw Institutional dislocation, the net we some and market that quarter. we additions client and mandates, the funded inflows to had in clients invested nice wins
So we to which billion year is a a very our and favorably peers outflows. had benchmark and over in against. institutional million a $X.X a low net outflow significant improvement in former billion $X.X the are a very expecting, we XX of included that quarter, the parent mandate bit compares that we results ago, overall, fee from $XXX This active
showing In flows. by fact, rate, fixed of and strong equities we driven were terms improved in in our number five flow income
regard some have like we period, And to while multi-sector the slowed strong income-oriented as April performance, investment our fixed in volatile seeing April. have results, has at strong equity key in our we in With equity some short-term and markets remained of look especially improvement did As income through we're remained improved. in gross equities. quarter, this strategies, strategies performance within underperformance have redemptions sales
and across asset numbers Long-term fixed strong. income remained allocation equities,
the markets Looking doing Clearly, managing in also results flows, will good environment back as and decline. will at this remain expenses help. quite we're coming given be margins higher impacted We're good fee financial and seeing revenues But good. a our a results. bit asset job
that are sure to in align managing place. controllable growth while expenses making remain that goals our projects critical We
saying I'd So Asset and the to focused by are well, on Management, we're teams continuing progress. executing wrap up close our
the and balance fundamentals sheet I'll turn to the Now with management. our balance of strong. sheet. let's risk strength It's start our exceptionally Company,
have billion liquidity. of approximately $X We
an $X.X of and investment portfolio limited we to high-quality, that pressure. We billion are under and have of AA- excess average have capital, with rating a industries exposure diversified
us conditions. volatile prepares these of management risk strong economic Our type for
a shareholders. period. generate to in effectiveness XX% at free invest we volatile excellent and is return The program that future good growth continues business cash for hedging flow Our to
our first well, pause although in we return continued uncertainty capital we quarter, the In did buyback given the to market. the
the of our position will our a our we at this and we business ability our move feel we XX level In X% a resume increase we position, saw, about, our And XXth I as forward. as an quarterly good we buyback announced strength you and in capital good With appropriate ago. since company became years dividend about navigate closing, to that environment. feel public increase
prepared to this for remain environment volatile. We're
With our these crisis play. headwinds business, able through and diversified we've our strong flow to the generates extremely cash priorities. and management, hand is weather we this our made, focus have We're on underlying capital investments strength the business to a the long-term and very working well. of economic Ameriprise markets strategic
We will way. and clients, on priorities right forward focus our our to moving continue in the
over take and it to your questions. turn I'll Now we'll then Walter,
