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Article: Bank Brokerage Prevails Despite a Rough Market.(UpFront News)
- Article from:
- Bank Investment Consultant
- Article date:
- August 1, 2009
CopyrightCOPYRIGHT 2009 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Howard J. Stock
Even in the current market conditions, bank brokerage managed to improve its profitability, averaging $35.29 per customer household in 2008, up from $30.88 per customer household in 2007, a 14% increase, according to Kehrer-LIMRA's new 2008 Financial Institution Investment Program Benchmarking Survey. The study includes 68 banks and credit unions representing over half of all bank investment sales. "The industry has held up very well in the crisis compared with non-bank brokerage," says Ken Kehrer, director of Kehrer-LIMRA and author of the study. "It will be interesting to see whether the perception of brokerage as an ancillary business ...
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