Record Assets Under Management
Equitable Holdings ended the quarter with record assets under management of $1.1 trillion, up 4% sequentially, indicating strong future growth in earnings.
Strong Wealth Management Growth
Wealth Management had another strong quarter with $2.2 billion of advisory net inflows, a 12% annualized growth rate, and advisor productivity increased 8% year-over-year.
Successful Capital Deployment
Equitable Holdings allocated $1.5 billion to drive shareholder value and future growth, including $676 million in share repurchases and reducing outstanding debt by $500 million.
Asset Management Earnings Surge
AB delivered strong earnings with a 39% increase year-over-year, driven by a 6% sequential increase in fee revenue. The adjusted margin improved to 34.2%.
Growth in Retirement Business
The retirement business generated $1.1 billion of net flows during the quarter, driven by continued growth in RILA sales.