Profits at Wells Fargo’s Wealth, Brokerage and Retirement division surged in the first quarter, as the firm reported a 41% increase year-over-year, contributing to record overall profits for the quarter, the company said.

The Wealth, Brokerage and Retirement division’s profits rose to $475 million for the first quarter from $337 million for the same period a year ago, Wells Fargo reported Thursday.

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