Wells Fargo & Co. said client assets handled by its wealth management business fell 2 percent in the fourth quarter, compared to the end of 2010. And total client assets in all its wealth, brokerage and retirement businesses fell 3 percent, to $1.3 trillion.

Even so the diversified banking and financial services firm, which operates more than 6,000 retail branches, said net income in those businesses increased significantly.

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