Wells Fargo wealth management downPosted by RJ and Makay on Jan 19, 2012 |
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The wealth management unit of Wells Fargo & Company reported weaker than expected fourth quarter 2011 results Monday. The firm attributed the tepid quarter to volatile investment markets and reduced client activity. Client assets within Wells Fargo Advisors declined 3% from Q4 2010 to $1.13 trillion, the company said. Fee-based income in the segment fell 2% to $198 million. The firm added 75 advisors in 2011 to bring its total to 15,263.
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