After a successful end to 2012, Ameriprise continued to build on its momentum with higher earnings and record assets under management in the first quarter.The firm’s revenue advanced 4% since the year-ago quarter, reaching $2.6 billion thanks to a substantial boost from fee-based businesses, Ameriprise Chairman and Chief Executive Jim Cracchiolo said in a statement released with the firm’s first quarter earnings on Monday.  Revenue in the wealth segment topped $1 billion, a 7% jump from last year, and pretax operating earnings at the wealth segment rose 39% from a year ago to hit $131 million.“Our fee-based businesses are leading out growth with a very good quarter for our wealth management business where we are generating strong advisor productivity and client net inflows,” Cracchiolo said.Assets under management rose 11% to $372 billion “driven by strong net inflows and market appreciation,” according to Ameriprise. That helped to propel total assets under administration and management to a record high of $708 billion. It also offset a $10 million loss of earnings due to lower interest rates, the firm said

More Wealth Management Leads Ameriprise in 1Q | On Wall Street.