Ameriprise Financial to Offset Comerica Outflows Through Huntington Bank Onboarding, Reports Q2 Beat

Ameriprise Financial (NYSE: AMP) delivered second‑quarter 2026 results that beat analyst expectations, and management signaled a potential tailwind from its upcoming Huntington Bank onboarding to help counteract accelerated outflows tied to its Comerica transition.

Q2 Performance Exceeds Estimates

On July 23, 2026, Ameriprise reported strong quarterly results. Revenue rose approximately 11.6%, reaching about $4.90 billion, and adjusted earnings per share (EPS) came in at $11.07, outperforming the consensus estimate of $10.81. Assets under management and advisement climbed to a record $1.8 trillion, with total client assets increasing 15% and wrap-account assets up 19%. Advisor productivity also surged, hitting a record $1.2 million per advisor. The company returned 91% of operating earnings to shareholders through share repurchases and dividends, repurchasing 1.7 million shares, and maintained a strong balance sheet with $2.1 billion in excess capital and $2.8 billion in liquidity. 

Comerica Outflows and Huntington Onboarding

Management acknowledged that client outflows related to the Comerica transition accelerated during the quarter and are expected to continue through the end of the third quarter. However, they indicated the upcoming onboarding of clients from Huntington Bank is expected to begin offsetting this impact in the fourth quarter.

Why This Matters to Investors

The Q2 results reflect sustained operational strength across Ameriprise’s wealth management and insurance offerings. Elevated advisor productivity and rising client assets underscore the ongoing scalability of its platform. While Comerica‑related outflows present a near‑term headwind, the company’s positioning to absorb Huntington’s onboarding may help stabilize growth heading into Q4.

For investors monitoring AMP, key developments to watch include the timing and scale of the Huntington integration, future guidance on client flows, and continued capital return dynamics.