For the latest quarter period, its operating earnings were $254m, or $1.13 per diluted share, against $333m, or $1.33 per diluted share previous year.
The firm said that results in the current quarter included $57m, or $0.26 per diluted share, of unfavourable items, including a $40m, or $0.18 per diluted share, unfavourable impact from an unusual tax-related item primarily related to prior periods.
Operating net revenues slashed by 3% to $2.5bn from a year ago, mainly due to lower net investment income from continued low interest rates and volatile equity markets.
Operating expenses were $2.1bn for second quarter 2012, down by 1% from a year ago, while operating general and administrative expenses improved from a year ago reflecting ongoing austerity measures implemented in the business.
Ameriprise Financial chairman and chief executive officer Jim Cracchiolo said, "We experienced good advisor client and asset growth with strong net inflows in our fee-based products. In Asset Management, we completed the Columbia Management integration and now have a strong global asset management platform."
