Bank Investment Consultant articles from February 2004

Bank Investment Consultant archives from February 2004

Get Ready for a Windfall.
February 1, 2004... By the time this issue reaches you, President Bush's State of the Union message will be old news and any initial reaction to his proposal to privatize at least part of Social Security will have died down. Of course, I'm writing this in...

Alliance Settlement May Not Lead to Lower Fund Fees, Say Experts.
February 1, 2004... Will the $250 million settlement agreement last December between federal and state regulators and Alliance Capital Management of New York put pressure on other fund advisers to slash fees? That has become the fund industry's $64,000 question....

Single-Premium Life Shows Potential.
February 1, 2004... Single-premium life insurance has the potential to balloon from a $500 million-per-year business to $10 billion in the near term if banks take the proper steps to identify the right customers and sell to them effectively. That's the view of...

SEC Is Set to Finalize Trust Rules by Year End.
February 1, 2004... If all goes according to schedule, the Securities and Exchange Commission is expected to hand down rules in November that govern bank trust operations. The long-awaited rules, essentially clarifying elements of the 1999 Gramm-Leach Bliley...

John Hancock Banks on LTC Rider.
February 1, 2004... John Hancock Financial Services has introduced a universal life insurance policy with a long-term-care rider that it says could be a hit at banks. Performance UL Core, launched in December, fits the needs of many bank customers, said Paul...

Wachovia Tops $4 Billion in Annuities.
February 1, 2004... A banking company has sold more than $4 billion of annuities in a calendar year for the first time, according to data from Kenneth Kehrer Associates. Wachovia Corp., which just missed $4 billion in 2002, cleared that total last year. ...

Community 1st Pushes Branch-Matching Plan.
February 1, 2004... Community First Bankshare's recent purchases of Colorado insurance agencies are part of its plan to bring insurance services to more of its 136 markets, said Mark Anderson, the banking company's president and CEO. Anderson said insurance...

February Calendar.
February 1, 2004... Feb. 15-18 Marketing Conference National Association for Variable Annuities JW Marriott Desert Ridge Scottsdale, Arizona 703-707-8830 or www.navanet.org. Feb. 26 Mutual Funds Reform and Public Trust Conference...

New Products.
February 1, 2004... * Pimco Funds plans to launch a Multi-Discipline Portfolio as a part of its Multi-Manager Series. It will be broadly diversified, with five subadvisors managing five different disciplines. Equity concentrations will be large-cap growth,...

Provider Notes.
February 1, 2004... * Vanguard has reopened its High-Yield Corporate Fund. The fund has a minimum investment of $3,000 and an expense ratio of 0.26%. In addition, Hotchkis and Wiley Capital Management has joined the management team of Vanguard's Windsor II Fund....

BB&T Tries a New Take On Wealth Management.
February 1, 2004... In the race to gather assets among Dixie's rapidly growing high-net-worth market, BB&T Corp. never has fretted about resembling a slow-moving Southern turtle in a herd of Northern hyper hares. For the Winston-Salem, N.C.-headquartered bank,...

Steve Wiggs, Manager, Wealth Management Division.
February 1, 2004... AUM: $10.6 billion Clients: 15,000 Copyright 2004 Thomson Media Inc. All Rights Reserved. http://www.thomsonmedia.com http://www.bankinvestmentmktg.com

Tapping A Vast New Market.
February 1, 2004... For Ben Franklin, nothing was certain but death and taxes. While those certainties remain, parents of college-bound teenagers now face another sure thing: the staggering and ever-increasing cost of paying for higher education. Scholarships...

When Wholesalers Have You in Their Sights: Here's how Jackson National's Robert McGrorty targets - and serves - bank reps in his territory.
February 1, 2004... Free chocolate probably isn't the main reason bank reps in Pennsylvania look forward to Robert McGrorty's visits. But the giveaway of locally made Hershey bars, in whose wrappers the Jackson National Life Insurance regional vice president...

Want to Get Off the Product Treadmill? Author Matt Oechsli Tells You How: Bank brokers can succeed in reaching and serving high-net-worth investors, but not in the same old way.
February 1, 2004... Matt Oechsli has been teaching reps how to reach high-net-worth clients for more than two decades. In 2002, he wrote How to Build a 21st Century Financial Practice. Late last year, his Oechsli Institute in Greensboro, N.C., published Mastering...

Can Software Improve Policy Selection?: More than 325,000 financial advisors currently use inventor Barry D. Flagg's product. Now, he's moving into banks.
February 1, 2004... Bank consultants faced with the dizzying array of life insurance policies available for sale often feel as if they must be actuaries to understand what's really in the contracts. But those days may be coming to an end. A powerful Web-based...

Tennessee Bank Reps Speak.
February 1, 2004... What's life like for bank reps in the mid-South? This month, we speak to three reps in Tennessee to find out: Thomas Herbert, a senior vice president at PrimeTrust Bank in Nashville, part of a three-person team managing $165 million in assets;...