Wells advisory biz reports record profits — but it’s mostly cost cutting
Wells Fargo's advisory business enjoys record profits, despite revenue jumping by a mere 2%, thanks to cost cutting that led to doing more with less.
Wells Fargo's wealth, brokerage and retirement business is doing more with less.
The division posted record net income of $434 million in the second quarter, up 29% from the first quarter on just a 2% increase in revenues.
Like the rest of the bank — which also reported record quarterly inc
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