J.P. Morgan Chase's global wealth management businesses delivered an unremarkable second-quarter performance.

Global wealth management, which includes both J.P. Morgan Private Bank and J.P. Morgan Securities, generated $1.5 billion in second-quarter revenue, up a modest 1% year-over-year and up 3% from the previous quarter, according to the bank's latest financial results released Thursday.

For the first six months of 2016, the bank's global wealth management businesses brought in $2.9 billion in revenue, flat from the same period last year.

Image: Bloomberg
Image: Bloomberg

Assets under management at the end of the second quarter fell 6% to $425 billion from $452 billion a year ago. Assets under management were also down from the previous quarter, dropping 1% from $428 billion. The decline was due to the effects of lower market levels, outflows from liquidity products and assets sales, the bank explained in the earnings release.

The number of advisers the two units employed also fell appreciably. At the end of the second quarter, they employed 2,622 advisers, down 5% from 2,746 a year ago.

Global wealth management is part of the bank's asset management business, which earned $521 million on $2.9 billion in second-quarter revenue. In addition to global wealth management, the asset management business includes the bank's mutual fund and institutional business segments.

Separately, the bank's retail wealth management business, which includes its mass-affluent Chase Private Client offering, posted modest gains in client assets. At the end of the second quarter, the retail wealth management business had $224.7 billion in assets, up 1% from $221.5 billion a year earlier.

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Overall, J.P. Morgan earned $6.2 billion, or $1.55 per share, in the second quarter, compared with earnings of $6.3 billion, or $1.54 per share, in the same quarter a year ago.

"Our performance reflected the strength of our balance sheet and our ability to invest in the future of our company," Jamie Dimon, the bank's chairman and CEO, said in a statement. "We continue to be a source of strength for our clients, communities, governments and markets around the world."