No Result
View All Result
SUBMIT YOUR ARTICLES
  • Login
Monday, October 27, 2025
TheAdviserMagazine.com
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
No Result
View All Result
TheAdviserMagazine.com
No Result
View All Result
Home Financial Planning

Wells Fargo’s Q1 asset rise doesn’t reflect market drop

by TheAdviserMagazine
7 months ago
in Financial Planning
Reading Time: 2 mins read
A A
Wells Fargo’s Q1 asset rise doesn’t reflect market drop
Share on FacebookShare on TwitterShare on LInkedIn



Wells Fargo is reporting a rise in its client asset tally even as executives acknowledge that current market volatility has yet to take a bite out of the firm’s results.

Wells Fargo said in an earnings report Friday that it had $2.2 trillion in client assets in the first quarter. That was down by 3% from the end of 2024 but nonetheless up 2% year over year.

Like Morgan Stanley and other wealth management firms, Wells Fargo has seen its AUM tallies boosted over the past two years by bull runs in the stock market. But the S&P 500 and other indexes have crashed in recent weeks as investors struggled to come to terms with hefty tariffs the Trump administration plans to impose on various U.S. trading partners.

READ MORE:Despite $50M sweeps hit, Wells Fargo’s wealth profits soarWells Fargo puts targets on low producers in 2025How Barry Simmons of Wells Fargo wins by helping othersWells Fargo scraps diversity policy for senior-level recruitmentWells Fargo lifts CEO Scharf’s pay to $31.2M

In an earnings call on Friday, Wells executives expressed satisfaction with the Q1 results while cautioning that the numbers don’t reflect recent market gyrations.

“As a reminder, the majority of our advisory assets are priced at the beginning of the quarter, so second quarter results will reflect market valuations as of April 1, which were down from January 1, but up from a year ago,” Wells Fargo Chief Financial Officer Mike Santomassimo told analysts.

Wells saw market gains continue to bolster the bottom line for Wells Fargo’s wealth division in the first quarter. Its noninterest income rose by 6% year over year to just over $3 billion. Wells attributed the increase to “higher asset-based fees driven by an increase in market valuations.”

Of Wells Fargo’s $2.2 trillion in client assets, roughly $980 million was held in fee-generating advisory accounts. The rest, nearly $1.3 trillion, was in brokerage and deposit accounts.

Wells Fargo’s wealth division

All told, Wells’ wealth management division’s total revenue was up 4% year over year to nearly $3.9 billion in the first quarter. Its net income rose by 3% to $392 million.

Wells reported that its wealth division’s noninterest expenses rose by 4% to nearly $3.4 billion.

Although continued market deterioration could hinder Wells’ ability to generate fees, Santomassimo noted that it could also help lower costs. Many financial advisors have compensation that’s tied to how much money they generate for the firm through accounts they manage.

“If the market continues to decline from where it is today, you’ll see less revenue-related expense, particularly in Wealth and Investment Management,” Santomassimo said.

Wells Fargo CEO Charlie Scharf said much still depends on the timing and results of policy changes by the federal government.

“Though we have heard a great deal from our clients as they work through this transitionary environment, we have not seen an impact on their condition yet,” he said. “This is a complicated issue, and as our current expectation that we will face continued volatility and uncertainty and are prepared for a slower economic environment in 2025.”



Source link

Tags: AssetDoesntDropFargosmarketReflectriseWells
ShareTweetShare
Previous Post

Trump, Trumper, Trumpest: 9 Financial Fumbles Fueled by the MAGA Mindset

Next Post

BlackRock’s Crypto ETF Inflows Drops Over 80% in Q1 amid Market Volatility

Related Posts

edit post
*HOT* Bose SoundLink Flex Bluetooth Speaker only .99 shipped (Reg. 9)! {Today Only}

*HOT* Bose SoundLink Flex Bluetooth Speaker only $89.99 shipped (Reg. $149)! {Today Only}

by TheAdviserMagazine
October 26, 2025
0

Score a hot deal on this Bose SoundLink Flex Bluetooth Speaker! Today only, HSN has this Bose SoundLink Flex Waterproof...

edit post
Meet Heidi Hallmark: A Bookkeeper Helping Women Find Peace of Mind in Their Finances

Meet Heidi Hallmark: A Bookkeeper Helping Women Find Peace of Mind in Their Finances

by TheAdviserMagazine
October 25, 2025
0

One of my favorite things to do is highlight women who have taken their gifts and used them to build...

edit post
*HOT* Shark Cyclone Pet Handheld Vacuum only .99 shipped! (Reg. ) {Today Only}

*HOT* Shark Cyclone Pet Handheld Vacuum only $24.99 shipped! (Reg. $70) {Today Only}

by TheAdviserMagazine
October 25, 2025
0

Here’s a great deal on this Shark Handheld Vacuum! HSN has this Shark Cyclone PET Handheld Vacuum with XL Dust...

edit post
Your Top October Money Questions Answered

Your Top October Money Questions Answered

by TheAdviserMagazine
October 24, 2025
0

The investing information provided on this page is for educational purposes only. NerdWallet, Inc. does not offer advisory or brokerage...

edit post
Mortgage Rates Inch Toward 6% as Fed Weighs October Cut

Mortgage Rates Inch Toward 6% as Fed Weighs October Cut

by TheAdviserMagazine
October 24, 2025
0

Mortgage rates fell for the fourth consecutive week, finally nearing 6% for the first time since September 2024. Lenders and...

edit post
Client relationships still advisors’ top priority

Client relationships still advisors’ top priority

by TheAdviserMagazine
October 24, 2025
0

Enjoy complimentary access to top ideas and insights — selected by our editors. Artificial intelligence has become a fixture in...

Next Post
edit post
BlackRock’s Crypto ETF Inflows Drops Over 80% in Q1 amid Market Volatility

BlackRock’s Crypto ETF Inflows Drops Over 80% in Q1 amid Market Volatility

edit post
Stocks jump at end of roller-coaster week while de-dollarization trade continues to slam the greenback and U.S. bonds

Stocks jump at end of roller-coaster week while de-dollarization trade continues to slam the greenback and U.S. bonds

  • Trending
  • Comments
  • Latest
edit post
77-year-old popular furniture retailer closes store locations

77-year-old popular furniture retailer closes store locations

October 18, 2025
edit post
Pennsylvania House of Representatives Rejects Update to Child Custody Laws

Pennsylvania House of Representatives Rejects Update to Child Custody Laws

October 7, 2025
edit post
What to Do When a Loved One Dies in North Carolina

What to Do When a Loved One Dies in North Carolina

October 8, 2025
edit post
Another Violent Outburst – Democrats Inciting Civil Unrest

Another Violent Outburst – Democrats Inciting Civil Unrest

October 24, 2025
edit post
Probate vs. Non-Probate Assets: What’s the Difference?

Probate vs. Non-Probate Assets: What’s the Difference?

October 17, 2025
edit post
California Attorney Pleads Guilty For Role In 2M Ponzi Scheme

California Attorney Pleads Guilty For Role In $912M Ponzi Scheme

October 15, 2025
edit post
Dell Technologies (DELL) Could Benefit From 2026 Data Center Refresh, Says Piper Sandler

Dell Technologies (DELL) Could Benefit From 2026 Data Center Refresh, Says Piper Sandler

0
edit post
High Dividend 50: Blue Owl Capital Corporation

High Dividend 50: Blue Owl Capital Corporation

0
edit post
The Core Of The Peace Proposal

The Core Of The Peace Proposal

0
edit post
Is It OpenSea or Blur?

Is It OpenSea or Blur?

0
edit post
How Many People Actually Work for the U.S. Government? The Latest Shock Figure & What It Means for You

How Many People Actually Work for the U.S. Government? The Latest Shock Figure & What It Means for You

0
edit post
Coforge shares rally 6% after Q2 net profit rockets 86% YoY. Should you buy, sell or hold?

Coforge shares rally 6% after Q2 net profit rockets 86% YoY. Should you buy, sell or hold?

0
edit post
The Core Of The Peace Proposal

The Core Of The Peace Proposal

October 27, 2025
edit post
Coforge shares rally 6% after Q2 net profit rockets 86% YoY. Should you buy, sell or hold?

Coforge shares rally 6% after Q2 net profit rockets 86% YoY. Should you buy, sell or hold?

October 26, 2025
edit post
Milei’s party on track to win Argentina election in big comeback

Milei’s party on track to win Argentina election in big comeback

October 26, 2025
edit post
HSBC to recognize .1 billion in provision after court ruling in Madoff case

HSBC to recognize $1.1 billion in provision after court ruling in Madoff case

October 26, 2025
edit post
Accel and Prosus team up to back early-stage Indian startups

Accel and Prosus team up to back early-stage Indian startups

October 26, 2025
edit post
What Saudi Arabia and Bangladesh can teach Silicon Valley

What Saudi Arabia and Bangladesh can teach Silicon Valley

October 26, 2025
The Adviser Magazine

The first and only national digital and print magazine that connects individuals, families, and businesses to Fee-Only financial advisers, accountants, attorneys and college guidance counselors.

CATEGORIES

  • 401k Plans
  • Business
  • College
  • Cryptocurrency
  • Economy
  • Estate Plans
  • Financial Planning
  • Investing
  • IRS & Taxes
  • Legal
  • Market Analysis
  • Markets
  • Medicare
  • Money
  • Personal Finance
  • Social Security
  • Startups
  • Stock Market
  • Trading

LATEST UPDATES

  • The Core Of The Peace Proposal
  • Coforge shares rally 6% after Q2 net profit rockets 86% YoY. Should you buy, sell or hold?
  • Milei’s party on track to win Argentina election in big comeback
  • Our Great Privacy Policy
  • Terms of Use, Legal Notices & Disclosures
  • Contact us
  • About Us

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.