CORRECTED - CORRECTED-UPDATE 1-Ameriprise Financial Q4 profit beats Wall Str

(Corrects total net revenue figure in paragraph 4 to $2.3 billion, from $1.3 billion)

* Q4 EPS $0.90 vs est $0.76

* Net revenue up 70 pct

* Q4 Net investment income $535 mln

Feb 3 (Reuters) - Ameriprise Financial Inc (AMP.N) reported quarterly profit well above analysts' expectations, helped by an increase in asset-based fees and net investment income.

The asset manager and broker specializing in retirement plan posted a net income of $237 million, or 90 cents a share, compared with a net loss of $369 million, or $1.69 a share, in the year-ago quarter.

Analysts on average had expected the company to earn 76 cents a share, according to Thomson Reuters I/B/E/S.

Total net revenue rose 70 percent to $2.3 billion. The Minneapolis-based company said management and financial advice fees, its largest contributor to net revenue, rose 41 percent to $855 million.

Net investment income was $535 million, an increase of $567 million from a loss a year ago.

As of Dec 31, the company's excess capital position was more than $2 billion.

Shares of the company closed at $39.19 on Wednesday on the New York Stock Exchange. (Reporting by Sweta Singh in Bangalore; Editing by Gopakumar Warrier)