Ameriprise Financial’s advice and wealth management unit saw a healthy bump in its advisor ranks in the latest quarter, and despite dwindling client assets, the unit delivered strong earnings.

The company added 99 “experienced advisors” during the latest quarter and ended with 10,245 advisors at the end of June, according to Ameriprise’s second-quarter earnings report.

The firm had 10,149 advisors at the end of March.

Total client assets in the advice and wealth management business unit stood at $735 billion by the end of June, a 9% drop year-over-year that Ameriprise attributes to a 15% market depreciation that was in part offset by client inflows of $8.6 billion during the second quarter — “a strong result in the face of volatile markets,” the company said.

However, net flows in the latest quarter were 10% lower year-over-year, according to the report.

Ameriprise adds that new client acquisition, combined with advisor recruitment and “deepening relationships from existing clients,” helped ensure that organic growth was healthy during the quarter.

Net revenues in the advice and wealth management segment were $2.06 billion in the second quarter, which was 4% higher year-over-year, according to the report.

Meanwhile, adjusted operating net revenue per advisor on a trailing 12-month basis was $814,000, which was 11% higher year-over-year due to “enhanced productivity and business growth,” the company said.

And the unit’s pre-tax adjusted operating earnings in the latest quarter were $492 million, which was 16% higher year-over-year, according to the report.

“In Wealth Management, we’re generating good organic growth and results remain strong, with excellent client and advisor engagement around our advice value proposition,” Jim Cracchiolo, chairman and chief executive officer, said in the report.

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