Bull Market for Stocks Lifts Wells Fargo’s Wealth Unit

Core Insights - Wells Fargo's wealth management unit reported a net income of $656 million for the fourth quarter, reflecting a 29% year-over-year increase [1] - The increase in net income was attributed to higher net interest income and investment advisory fees [1] - Total client assets for the wealth unit reached $2.5 trillion at the end of the quarter, marking a 9% increase compared to the same period last year [1]