Wells Fargos wealth, brokerage and retirement business units earned $337 million in the first quarter of 2013, up 14% from last year but down 4% from the previous quarter, the bank announced Friday.
The business units generated $3.2 billion in first-quarter revenue, representing a 4% increase from the first quarter of 2012 and a 3% increase from the fourth quarter of 2012. Brokerage advisory commissions and fees accounted for the lions share of the revenue, bringing in $2.05 billion, or 12% more than they did the same period last year.
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