Ameriprise Financial says its net income rose 12% from last year to $400 million, or $2.46 per share, in the fourth quarter of 2016 — topping analyst estimates. Sales, though, fell 1% to $3.1 billion.

Its Advice & Wealth Management assets grew 7% from the year-ago quarter to $479 billion; net inflows into fee-based investment advisory wrap accounts were $3.3 billion in the quarter — giving the platform about $201 billion in assets, or 42% of total assets.

Ameriprise ended the year with 9,675 advisors, including 77 veteran advisors who joined in the fourth quarter of 2016.

“Ameriprise had a strong fourth quarter and a good year in light of the operating environment,” said Chairman and CEO Jim Cracchiolo, in a statement.

“Our fee-based businesses continued to generate strong profitability. Advice & Wealth Management in particular led the way with a record high for retail client assets, strong net inflows into investment advisory accounts, as well as very good advisor productivity,” he explained.

On a trailing 12-month basis, net revenue per advisor (or yearly fees and commissions) grew 1% from 2015 to $518,000.

The Advice & Wealth Management’s pretax margin improved to 19.3% vs. 16.6% a year ago.