Wells Fargo’s wealth, brokerage and retirement unit earned $351 million in net income in the fourth quarter of 2012, up 13% from the year before, the bank reported Friday. The unit generated $3.1 billion in revenue, a 1.7% increase in a year-over-year comparison.

Client assets with retail brokerage reached $1.2 trillion, up 8% from the prior year. Managed account assets jumped 20% from 2011 driven by strong net flows and market performance, the bank said.

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