Bank Investment Consultant articles from August 2003

Bank Investment Consultant archives from August 2003

Undercoating Anyone?
August 1, 2003... When I went to get cash from a nearby bank the other day at lunch, I discovered that the ATMs in the lobby had been Sheetrocked over as part of a major renovation. I followed the crowd to the rear of the branch where temporary machines had been...

Banks Could Capture Mass Affluent, Survey Says.
August 1, 2003... Banks are positioned to corner the mass-affluent market, said PricewaterhouseCoopers, as other wealth managers pursue the ultra-wealthy and ignore investors with less than $500,000 of assets. The firm's 2003 Global Private Banking-Wealth...

Insurers Plan to Drop Excess-SIPC Coverage.
August 1, 2003... A move by several insurance companies - including AIG Group's National Union Fire Insurance, Travelers and Radian Guarantee Financial - to withdraw from writing excess-SIPC coverage has drawn industry-wide attention to an issue that may elicit...

Calendar.
August 1, 2003... Aug. 6 Bank-Owned Life Insurance Society of Financial Services Professionals Audio Conference - noon to 1 p.m., EDT 800-392-6900 or www.financialpro.org Sept. 14-16 Community and Regional Banking Forum Bank...

New Products.
August 1, 2003... Franklin Templeton Investments Franklin Templeton has launched the Mutual Recovery Fund, a closed-end fund investing in debt and equity instruments of bankrupt and distressed companies, as well as undervalued stocks. Templeton also has...

Product Provider Notes.
August 1, 2003... Human Capital Resources (www.humancap.com), a St. Petersburg, Fla.-based consulting firm specializing in recruiting, training and employee testing-evaluations, has introduced a training program to enhance the management skills of bank...

Ex-Wall Streeters Resettling at Banks: Reps says bank investment programs are more in synch with investors' current mood.
August 1, 2003... When asked what prompted a recent move from a wirehouse to a bank investment program, a veteran broker gave a two-word answer: "Jack Grubman." He was referring, of course, to the former Salomon Smith Barney analyst who recommended a slew...

Nina Kallabat: She Just Does It: By focusing on her clients and not swerving from her goals, this Michigan rep produces success.
August 1, 2003... How does a rep in Michigan make a name for herself in Arizona? That's what Mitch Olive wondered when he worked as a team leader for Bank One in the Southwest. Despite the distance, the name Nina Kallabat - and her production numbers - kept...

Bank One.
August 1, 2003... 2002 AUM: $100 million, up 43% Revenue: $2.5 million, up 10% Number of clients: 1,500, up 33% Copyright 2003 Thomson Media Inc. All Rights Reserved. http://www.thomsonmedia.com http://www.bankinvestmentmktg.com

Retirement Planning and Your Clients: Here's how to help them reach their golden years in style.
August 1, 2003... Assets in bank brokerage programs may be growing. But let's look at the really big picture and face facts: Americans just aren't saving enough for retirement. A recent survey sponsored by the Employee Benefit Research Institute (EBRI) and the...

What Are the Odds?
August 1, 2003... If you were 65 years old and retiring today, the government says you can expect to live to age 85. But official life expectancy tables don't reflect probabilities. When actuaries calculate the odds of living into old age, the results are very...

Bank RI Flexes its Muscle: The investment unit of Bank Rhode Island had high aspirations - and succeeded. Here's how.
August 1, 2003... If Bank Rhode Island's investment services division had a David complex, the reasons were understandable. The unit, which was created in January 2001, is a small part of a new bank in a tiny state facing Goliath-sized competitors. Despite...

At a Glance: BARI Investment Services Division.
August 1, 2003... 2002 AUM: $43.5 million, up 107.2% GDC: $983,627, up 88.1% Sales: $23.2 million, up 66.9% No. of Accounts: 1,454, up 18.4% Copyright 2003 Thomson Media Inc. All Rights Reserved. http://www.thomsonmedia.com...

The Millonarios Next Door: Immigrant wealth is growing. Are you serving these increasingly affluent segments?
August 1, 2003... Apologies to the Statue of Liberty, but not all of today's immigrants are tired, poor, or huddled in a mass. Some are downright wealthy or well on the way to wealth. In fact, immigrant wealth accumulation is gaining momentum as transplants...

Time for Indexed Annuities?: Sure, they're complex. But they offer the safety and upside investors want.
August 1, 2003... If necessity is the mother of invention, low interest rates may be the mother of new investment and insurance products. With record low interest rates causing sales of fixed annuities, particularly at the platform level, to plummet at many bank...

Listening for Real Answers: Why aren't more bank reps true consultants? Maybe they aren't asking the right questions.
August 1, 2003... Virtually every bank investment program provides excellent profiling forms to help consultants gather vital information about prospects and clients. Yet most of the forms sit in their original cellophane wrappers collecting dust. Why is that?...