After a successful end to 2012, Ameriprise continued to build on its momentum with higher earnings and record assets under management in the first quarter.
The firms revenue advanced 4% since the year-ago quarter, reaching $2.6 billion thanks to a substantial boost from fee-based businesses, Ameriprise Chairman and Chief Executive Jim Cracchiolo said in a statement released with the firms first quarter earnings on Monday. Revenue in the wealth segment topped $1 billion, a 7% jump from last year, and pretax operating earnings at the wealth segment rose 39% from a year ago to hit $131 million.
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