The Financial Services cost and expenses increased by $12.6 million over the fourth quarter of 2010. Again, that includes the operating cost of ALPS and other businesses acquired during 2011. We also continue to incur business development and start-up costs for insurance, brokerage and retirement. Deferred comp costs increased by $1,400,000, that represented the investment appreciation. There is further offsetting costs, where lower employee healthcare and retirement benefits of the $4.2 million that we referred to before. Depreciation and amortization increased by $1 million. And we had increased intangible asset amortization of $2.4 million, and that was from the 2011 acquisitions. This amount, however, was partially offset by certain DST Health Solutions' intangible assets that became fully amortized. Overall then as a result, Financial Services income from operations decreased by $10.2 million or 13.9%.
Turning to the business development and start-up costs for insurance, brokerage and retirement. They were $7.4 million during the quarter or an equivalent of $0.10 per share. We expect in 2012, business development and start-up expenses for those business lines, brokerage, insurance and retirement to be between $0.60 and $0.65 of after-tax expense per diluted share. Expenses are currently in place, so that's kind of a run rate. And we anticipate they'll approximate $0.15 to $0.16 per quarter throughout the year of 2012.
During the quarter, our registered mutual fund accounts declined by $1,700,000. Conversions to non-DST subaccounting platforms totaled $2.2 million. We experienced an organic decline of 100,000 registered accounts and conversions to non-DST platforms of 100,000. However, these decreases were offset by new conversions of 700,000 registered accounts, bringing you back to the net of $1.7 million.
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