Assante Corp. on Thursday reported increased profit for the second quarter ended June 30.

The financial planning firm said earnings for the period rose 6% to $6 million, or 7¢ per share, compared with $5.7 million, or 7¢ per share, a year ago.

Second quarter revenues fell 11.5% to $84.7 million, mainly due to a drop in distribution revenue.

“The decline in distribution revenues is attributed to several factors, including the lingering impact of the recent bear market and the transition of adviser practices from commission-based to fee-based compensation,” Assante said a news release.

In the U.S. segment, a 7.3% decline in revenue was blamed on a weaker U.S. dollar while last year’s results included gains from disposition of investments.

“We are pleased with these results,” said CEO Martin Weinberg. “They confirm our strong performance, even during challenging times.”

Weinberg also said the board of directors is continuing to consider a number of strategic alternatives, including pursuing several acquisitions.