Earnings at Wachovia Wealth Management of the US were up 14 per cent to $65 million in the first quarter compared with Q1 2006, on modest revenue growth and lower expenses according to the company. Wachovia’s wealth management segment includes private banking, personal trust, investment advisory services, charitable services, financial planning and insurance brokerage. During the quarter, a dip in net interest income as margin compression and a decline in average core deposits overcame strong momentum in loans. Increased fee and other income led by strong growth in fiduciary and asset management fees, were offset by lower insurance commissions. The bank says that continued strong client response to new investment platform contributed to its growth during the last quarter.