Bank Investment Consultant articles from April 2004

Bank Investment Consultant archives from April 2004

If Martha Ran a Bank @BY#By Evan Cooper, Editor in Chief.
April 1, 2004... What would happen to a bank and its investment program if a bank chairman suffered the ignominy of Martha Stewart or Michael Eisner? Certainly, the fallout would be disastrous for the institution involved, let alone the bank's reps and its...

Shift From Fixed Annuities Propels VA Sales at Banks.
April 1, 2004... While sales of fixed annuities at banks continued to account for almost twice the volume of variable contracts, sales of variable annuities at banks grew 54% in 2003 - from $11.2 billion to $17.1 billion. Meanwhile, sales of fixed...

Bank Variable Annuity Sales in 2003.
April 1, 2004... Insurer Rank Full Year 03 Full Year 02 Percentage 2003 ($ Millions) ($ Millions) Change Hartford 1 4,890 3,176 54% AXA 2 1,950...

PNC Expands Wealth Management Offering.
April 1, 2004... Determined to create a sophisticated wealth management offering in its East Coast markets, PNC Advisors has revamped its advisor compensation program and announced plans to add 22 advisors to its 350-strong staff. Last September, the bank...

B of A Adds Multi-Style SMA Accounts.
April 1, 2004... Bank of America's consulting services group has launched a multiple-style investment program in an effort to attract affluent people by broadening its roster of fee-based products. Consulting Services Portfolio Strategies is a managed...

Reps Vary More by Individual Than by Channel, Survey Finds.
April 1, 2004... Bank reps aren't alike just because they work in one distribution channel, says a report from Kasina, a New York-based management-consulting firm. And product wholesalers who lump bank reps together are missing an opportunity to strengthen...

April Calendar.
April 1, 2004... April 20-21 Annual Convention Money Management Institute Westin Copley Place Hotel Boston, Mass. 202-347-3858 or www.moneyinstitute.com April 25-28 Spring Conference Investment Management Consultants...

Product News.
April 1, 2004... Prudential Financial has contracted with Ibbotson Associates to develop asset allocation strategies for the JennisonDryden Asset Allocation Fund of Funds, which invest in other JennisonDryden funds. The new funds come in A (5.5% maximum load),...

Tools and Resources.
April 1, 2004... BondsOnline Group has introduced BondsOnline: Quotes and Data. This pay-per-use service offers current and historical prices for bonds, stocks, indexes, mutual funds, REITs, ADRs and other domestic and international products. (800) 883-1808 or...

Banks Are Falling Short of Securities Goals, Report Says.
April 1, 2004... Large banks, while making progress, still have not reached the profit targets they have set for their retail securities operations. That's the essence of a report by Boston-based Celent Communications, which finds that banks' share of their...

Crossing the Next Insurance Frontier: P&C.
April 1, 2004... Since the breakdown of the Glass-Steagall wall separating banking from other financial services, banks have made significant inroads into securities and most types of insurance. Still to be conquered, however, is the property and casualty...

Benchmarking Clients' Goals: How Wachovia's Rob Torrington wins the loyalty of his clients. "Bibles," anyone?
April 1, 2004... For Rob Torrington, 2004 looks to be a year of change. The Wachovia Securities senior vice president has added new technology tools, expanded his product lineup to include life insurance and adopted a new corporate strategy. Plus, with 40% of...

At A Glance.
April 1, 2004... 2003 AUM: $100 million 2002 AUM: $91 million 2003 production: $655,000 2004 projected production: $800,000 Clients: 826 Licenses held: Series 6, 63, 65 - life, health and variable annuity Copyright 2004 Thomson Media Inc....

It's a Bull Market for Bank Reps, Say Recruiters: Banks are willing to pay for top talent - our roundtable participants tell you how much.
April 1, 2004... To compete with wirehouses and super-regional brokerage firms, banks are beefing up the compensation packages they present to top producers they are trying to hire: That's the consensus of the nation's top bank investment consultant recruiters,...

New Bank Packages Grant Top Reps a Bigger Slice of the Pie.
April 1, 2004... Compared to 2002, last year's average bank broker payout was flat at best, remaining at 34% to 38%, according to a new report from Human Capital Resources, a St. Petersburg, Fla., consulting firm. But these figures belie a redistribution in...

ETFs Gain Favor at Banks: Lower costs, tax benefits and an untarnished reputation helps exchange-traded funds grow in bank programs.
April 1, 2004... If Philip Wannenmacher's experience is typical, exchange-traded funds are likely to occupy a more prominent place in bank investment programs in the near future. "Currently, less than 5% of my business is in ETFs, but that's only because...

Advertiser Index.
April 1, 2004... Assurant Group 7 Aviva 19 Bank Insurance & Securities Association 27 Classified & TechTools 38-39 Fiserv Securities ...

What's Doing in the Bay State.
April 1, 2004... In addition to being home to some of the nation's largest money managers, Massachusetts supports many community banks. Several of these have securities operations, and to learn what issues their bank reps and investment specialists currently...