Market, boomers boost Amerprise profits

Author:
Updated:
Original:

Ameriprise Financial is the toast of Wall Street, and should be toasting right back. The surging stock market gets some of the credit for its upbeat second quarter earnings report.

The Star Tribune reports the Minneapolis investment services company saw operating profits leap by 38.6 percent during the time period and posted operating earnings of $352 million. The strong second quarter was driven by a 37 percent jump in pretax operating earnings in the company’s advice and wealth management segment, which got a boost from stock market gains.

An analyst who follows Ameriprise said that the upswing reflects baby boomer investors who are returning to the market.

Ameriprise has almost 10,000 financial advisers, mostly certified financial planners, who help investors with financial and retirement planning.

Next Up

Kenta Maeda

Twins pull Maeda early, White Sox pummel bullpen

Jose Abreu's two-run homer gave the White Sox a 9-3 victory.

boys volleyball

Girls wrestling sanctioned as MSHSL activity; boys volleyball 2 votes shy

There will be section and state tournaments for girls-only wrestling next school year.

P.J. Fleck

Gopher players defend PJ Fleck after WCCO-TV report

"The public has made our statement," a U of M spokesperson said.

vaccine, covid

Twin Cities police investigating COVID vaccine thefts in viral videos

Videos of both incidents were recorded and shared online.

Guthrie theater

Guthrie to reopen to the public in July, shows resume this fall

The theater has been closed to the public for more than a year.

Target - good and gather plant based

Target is launching more than 30 new plant-based grocery products

All are part of the company's hit Good & Gather brand.

Roller Garden

Roller Garden to auction off skates, signs, arcade games and more

Many items from the beloved Roller Garden will be up for auction next month.

joseph ness booking photo

Charges: Chanhassen man fired hundreds of rounds, killing his sister

Six rifles, including AR-15 and AK-47 variants, were found inside the home.

police lights

Woman robbed and assaulted at gunpoint in Waite Park, police say

The incident occurred on Sunday at around 11:30 p.m.

pixabay - marijuana cannabis

Marijuana legalization: Minnesota House to vote Thursday

The "historic" vote on the House floor is set for Thursday afternoon.

Related