Bank Investment Consultant articles from April 2008

Bank Investment Consultant archives from April 2008

Help Yourself.
April 1, 2008... This month's cover story ("Banking's Big Brothers," page 14) sheds some light on just how much the industry has changed over the past few years. The days of the solo stock jockey making 400 calls a day to shift a stock or a bond are long behind...

Small-Bank Wealth Units Weather Market Turmoil.
April 1, 2008... Despite the weak housing market that is wrecking havoc at major banks and market turbulance that is devaluing assets in accounts, wealth management programs at community banks are holding their own. Revenue from community bank brokerage...

Wachovia Touts Integration of A.G. Edwards.
April 1, 2008... Wachovia has launched a national advertising campaign, called "With," which is intended to underscore the combined strength of the two entities, and how the two firms' joint efforts will provide greater value to retail investment clients. The...

529 Enrollment Defies Market Woes.
April 1, 2008... In spite of the weaker housing market and the stock market's plunge, people continued opening 529 accounts last year. Experts say that growing public awareness of the tax-friendly investment option has offset difficult market conditions. ...

BISA Awards Honor Three Banks.
April 1, 2008... Penn State Employees Credit Union, First Citizens Bank and Compass Bank all picked up awards at the Bank Insurance and Securities Association's annual conference in Hollywood, Fla., last month. PSECU won the Best Small Bank award for...

Wealth Management Shakeup at Citi.
April 1, 2008... Citigroup is reorganizing its U.S. wealth management business in an effort to cut expenses and boost market share. In a March 3 memo to employees, Citi announced that it is splitting the wealth management unit, which includes Smith Barney's...

Fidelity 401(K) Advisor Platform Grows By 26%.
April 1, 2008... Assets rose 26% last year, to $21.2 billion, for Fidelity Investments' Advisor 401(k) platform, which is offered exclusively through third-party financial advisors to small and midsize companies. The Boston fund company said the number of...

Banking's Big Brothers: Mentoring a new advisor usually leads to increased production and emotional rewards for both parties.
April 1, 2008... At the First National Bank of Pana, a small town in rural Illinois known for its roses, 24-year-old industry newcomer Chad Sutton mulls the impact that his mentor Steve Mammoser has had on his career. Without Mammoser's help, "I would be...

Family Ties: How the family practice of Graeter and sons moved to a bank to run a fee business.
April 1, 2008... These days a father-son business sounds almost quaint, a throwback to a time when one's career was inherited, not earned. But Don Graeter's sons, Drew and Spencer, have happily joined his advisory practice at Central Bank and Trust in...

The Ultimate Client Review: How to deepen your relationship with clients and make every meeting more productive.
April 1, 2008... Last month we talked about how to keep your calendar full. But having a lot of client appointments doesn't guarantee greater productivity. How can you make sure that those meetings aren't a waste of time? There's a way to avoid spinning...

The Other Life Insurance: Most clients with dependents needs term life insurance. Who needs whole or variable life?
April 1, 2008... As bank-based investment advisors move increasingly into the role of full-service financial planners, clients are demanding that they have expertise in a more diverse array of products and services. Among these are two types of life insurance...

The Immediate Solution: SPIAs are seeing new life as a retirement vehicle of choice for baby boomers.
April 1, 2008... Rich Reiser, an investment advisor at the Decorah Bank & Trust and Investment Centers of America in Iowa, is not your typical bank rep. While his colleagues around the country are steering their clients into variable and fixed annuities, he has...

A Case for Meddling: Encouraging your clients to talk with their parents about finances may be one of the most important things you can do as an advisor.
April 1, 2008... The scenario may sound familiar: You've been working with your clients, a couple in their mid-forties, to develop a solid plan for their retirement. They're finally on track to meet their financial goals when the wife has to quit her job to...

Unlawfully Married: Alerting same-sex clients to their unique financial planning problems can win you great loyalty and lots of referrals.
April 1, 2008... Despite the popularity of Will and Grace, there is still hostility, misunderstanding and ignorance directed at the gay and lesbian community. This means that professionals who are friendly and knowledgeable will be deeply appreciated by those...

Golden Opportunities.
April 1, 2008... BIC: What are the new opportunities in your territory? Alft: I'm exploring new niches. My partner and I are going to get certified divorce planner designations to tap an area that's in its infancy. Esteves: Central Florida is a booming...