ameriprise 1Q07_Release

- Ameriprise Financial reported a 14% increase in net income for Q1 2007 to $165 million compared to Q1 2006. Adjusted earnings, which exclude non-recurring separation costs, increased 16% to $220 million. - Revenues grew 6% to $2.1 billion, driven by 11% growth in management fees and 14% growth in distribution fees. However, net investment income declined 10% due to lower balances in annuity fixed accounts and certificates. - Earnings growth was achieved through a strategic shift toward fee-based products and greater advisor productivity, though this was partially offset by declines in spread income from annuity and certificate businesses.