Bank Investment Consultant articles from August 2004

Bank Investment Consultant archives from August 2004

The Starbucks of Banking.
August 2, 2004... In their battle with brokerage firms over the wallets of customers, one thing banks always have had in their favor is the marketing power of their brands. True, major brands in either camp - a Merrill Lynch or a Bank of America, for example -...

Banks Are Gaining in Battle for Affluent.
August 2, 2004... In the financial services contest over high-net-worth individuals, banks are making headway at the expense of traditional broker-dealers, according to results of an annual survey conducted by The Phoenix Cos. and Harris Interactive. "When...

SouthTrust Reps Optimistic About Wachovia Acquisition.
August 2, 2004... The announcement of a corporate acquisition conjures the specter of layoffs, and Wachovia's acquisition of SouthTrust - announced late June - likely will result in at least some of the latter bank's employees looking for new jobs. But...

Regulators Signal VA Crackdown.
August 2, 2004... First it was mutual funds; now it's their insurance cousins, variable annuities. In mid-June, the Securities and Exchange Commission and the National Association of Securities Dealers issued a report that pummeled financial advisors' VA...

Product News.
August 2, 2004... Allianz Life has introduced the High Five Bonus VA, which offers an upfront bonus of 4% to 7%, with a total base mortality and expense charge of 1.7%. (800) 950-5872, or www.allianzlife.com. Jefferson National Life has launched two variable...

Tools and Resources.
August 2, 2004... Ameritas Direct has a new Web site with tools and calculators for advisors and their clients. Topics addressed are life insurance needs, college cost savings, asset allocation, estate taxes and 401(k)s. (800) 555-4655, or...

Calendar.
August 2, 2004... Sept. 12-14 Marketing Conference American Bankers Association Scottsdale, Ariz. 1-800-BANKERS, or www.aba.com Sept. 20-21 Separately Managed Accounts Conference Thomson Media/Money Management Institute ...

Making Sense (and Dollars) of Long-Term Care Insurance: Bank customers would seem to be the ideal market for LTC coverage. Here's how leading banks are finding success.
August 2, 2004... Clients aren't particularly interested in talking about it. And most bank investment consultants probably wouldn't mind ignoring it, either. But as Baby Boomers approach retirement, long-term care insurance looms as one of the most timely and...

Five Steps to Building an Effective Insurance Program.
August 2, 2004... While they're often closely related, investment and insurance programs work differently, says Dan Overbey, senior vice president and national sales manager at First Tennessee Brokerage's investment and insurance services division. Here are five...

Banks and Insurance: An Expert Sees Great Opportunities.
August 2, 2004... Will banks move beyond annuities to become insurance powerhouses? Michael White believes they can. White, chairman and CEO of an eponymous consulting firm in Radnor, Pa. (www.bankinsurance.com), produces the Bank Insurance & Investment Fee...

The Outlook for Annuities.
August 2, 2004... In 1987, banks and savings institutions sold just $4 billion of fixed annuities, and almost no variable. Back then, I brashly predicted that annual bank sales of annuities would hit $40 billion by 2000. In the mid-1990s, some analysts took...

Doing Business in the Buckeye State.
August 2, 2004... This month, BIC takes a front-line view of doing business in Ohio. Taking part in our roundup are Thomas Abood, vice president, senior securities sales representative, at Huntington Bank's Private Financial Group in Columbus; Per Berger, vice...