Bank Investment Consultant articles from April 2005

Bank Investment Consultant archives from April 2005

The Generation Game.
April 1, 2005... At a recent lunch with two insurance company executives and a PR officer (two baby boomers and a Gen-Xer, respectively) the conversation turned to the future of investment and insurance distribution models in banks. The problem, or at least the...

Community Banks Gain Ground in Brokerage.
April 1, 2005... Brokers in community banks with assets under $4 billion averaged $22,710 in gross commissions in the fourth quarter of 2004, up 5% from the third quarter and up 6% year-over-year. With trailers factored in, community banks' brokerage revenues...

Nationwide VA Riders Guarantee Accumulation, Income, and Withdrawal.
April 1, 2005... New variable annuity (VA) features can seem like a new tail on an old dog as actuaries re-jigger product features, creating investment options that often appeal to a narrow customer segment. But Nationwide Financial has devised a formula that...

Analysts Mull Growth Strategies at Regionals.
April 1, 2005... Volatile markets have made it hard for banks of all sizes to expand their brokerage business in the past four years, but a few smaller regional banks have managed to buck the trend, analysts note. Last year remained a challenge for most...

Correction.(Correction Notice)
April 1, 2005... Lucinda Bentley ("Business Is Peachy for Georgia Reps," March 2004) works for Fintegra, not Fiserv. Copyright 2005 Thomson Media Inc. All Rights Reserved. http://www.thomsonmedia.com http://www.bankinvestmentmktg.com

Calendar.(Calendar)
April 1, 2005... April 25-27 Annual Conference National Association of Active Investment Managers Houston * (888) 261-0787, or www.naaim.org April 28-30 Annual Conference Pride Planners * Palm Springs, Calif. (888) 896-8891, or...

Product News.
April 1, 2005... Chartwell Partners has launched an ETF/iShares Portfolio Program. A subscription includes access to four model portfolios, e-mails about portfolio changes and investment alerts, and a monthly newsletter. Advisers can also download a free e-book...

Tools and Resources.
April 1, 2005... The American College has created an online search engine to help consumers find financial advisers. The directory includes information on professionals who hold at least one of seven different credentials offered by the college: Chartered Life...

Getting Back to Basics: BNY Investment Center rep Gerald DeBenedictis stumps for fixed annuities and other tax-deferred products.
April 1, 2005... Holistic planning and wealth management are all the rage in bank brokerage right now. But what customers really want may be getting lost among the buzzwords, cautions Gerald DeBenedictis, an investment consultant at the BNY Investment Center at...

Gerald DeBenedictis at a Glance.
April 1, 2005... 2003 assets: $60m 2004 assets: $75m 2003 production: $689,000 (including trailers) 2004 production: $988,000 (including trailers) Clients: 600 Years in business: 20 Years at The Bank of New York: 4 Licenses held:...

Recruitment and Compensation 2005: Competition heats up as banks target wirehouse brokers' existing books.
April 1, 2005... Recruiter contact box: Mindy Diamond, Diamond Consultants, Chester, N.J. (908) 879-1002 Nick Ferber, managing partner, Sanford Barrows Group, N. Miami, Fla. (305) 999-6240 Doug Rickart, regional district director, Robert Half...

How Do You Stack Up?: Recruiters and banks alike increasingly rely on the McLagan grid to narrow their recruitment searches.
April 1, 2005... (part 1 of 2) Quintiles 0 Years 1 Year 2 Years 3 Years 4 Years 1st Quintile $210,814 $294,023 $374,330 $457,443 $577,809 2nd Quintile $101,443 $148,475 $199,547 $235,498 $299,773 ...

A 'Cheat Sheet' to Cross Sell: How Fifth Third Securities is working with its sister units to maximize sales.
April 1, 2005... Cross-selling strategies are not easy to implement, but Cincinnati-based Fifth Third Bank has been particularly successful. It realigned its retail, brokerage, and lending operations to maximize the product push across its entire...

Fifth Third at a Glance.
April 1, 2005... 2004 assets under management: $15 billion Number of dedicated reps: 375 Number of platform reps: 2,000 Number of branches: 1,100 Footprint: Florida, Illinois, Indiana, Kentucky, Michigan, Ohio, Tennessee, and West Virginia ...

How to Succeed in Screening: With so many mutual funds out there, here's how some reps narrow the field.
April 1, 2005... Mutual funds are a staple of bank investment business, but that doesn't mean they're easy to pick. For starters, there are over 17,000 of them in all share classes listed by Morningstar, the fund-tracking company based in Chicago. "It used...

Needle in a Haystack: The mutual fund universe has more than doubled in the past decade.
April 1, 2005... Year New Funds Total funds 1995 1,323 7,763 1996 1,574 8,995 1997 1,906 10,526 1998 1,866 11,909 1999 1,807 13,193 2000 2,360 14,759 ...

Sales Through the Looking-Glass: Scrutiny on annuities and B shares may drive bank reps away from selling these products.
April 1, 2005... The regulatory and compliance juggernaut continues to steam through the financial services industry. For banks that are already dealing with the onerous requirements involved in selling investment products, February brought fresh challenges...

Advertiser Index.
April 1, 2005... Alps Mutual Funds 40-41 Alps Mutual Fund Services INSERT Bank Insurance & Securities Association 11 CFP Board of Standards 23 Classified & Tech...

Drifting Fee-ward: Three Utah bank reps discuss the new wave in broker compensation.
April 1, 2005... Utah's official state motto-"Industry"-is a word that appears on both the state seal and the state flag. This month, BIC speaks to Dave Guzy and Robert Merrill, financial advisers who co-manage $65 million in assets at the Bank of Utah in Salt...