Bank Investment Consultant articles from January 2007

Bank Investment Consultant archives from January 2007

All Our Futures.
January 1, 2007... Judging from what advisors and program managers are saying (see Industry Outlook, page 10), 2007 looks like it will bring improvements to the industry-a more favorable interest rate environment could help boost annuity sales and provide the...

New Realities in Asset Management.
January 1, 2007... It has been a record year for asset management deals, and banks continue to adjust to a changing landscape that could see more of them leave the business, banking and investment analysts say. The $43 billion merger announced on Dec. 4 will...

Largest Investment Management Transactions by Disclosed Value.
January 1, 2007... Date Acquirer Country Target Country Value(US$B) 12/2006 Bank of New York U.S. Mellon Financial U.S. $16.5 2/2006 BlackRock U.S. Merrill Lynch U.S. $9.6 ...

Worried Boomers Need Market Advice.
January 1, 2007... While the majority of baby boomers acknowledge that they haven't saved enough for their retirements, many of them are wary of investing in the stock market, according to a Dec. 4 NAVA survey. The survey, conducted for NAVA by Kelton...

Annuity Sales Fall Despite Market Pickup.
January 1, 2007... Sales of both variable and fixed annuities declined in September, according to a Dec. 6 report by Kehrer/LIMRA and Jackson National Life. Total bank sales of annuities fell 8% compared with August's figures, down from $3.7 billion to $3.4...

Dividends Score with Investors.
January 1, 2007... Twenty-six year-olds and their grandfathers may not share the same investment philosophies, but there are a few ideas that transcend generations, according to the results of a recent survey by Eaton Vance. Everyone likes dividends; no one...

Outlook 2007 Fast Forward: Advisors and program managers alike see challenges ahead, but morale is strong.
January 1, 2007... With the New Year bearing down upon us, the bank-brokerage industry is ramping up for what will hopefully be a good year, but there will be challenges ahead, including a lack of referrals, a dearth of good training, uncertain market conditions...

Depressed Outlook for Program Growth.
January 1, 2007... While three-fourths of program managers want to add Series 7 licensed advisors to their ranks in 2007, the number of banks planning to add advisors has been on a downward slope since 2002, says a Consumer Bankers Association's 2006 Consumer...

Trend Watch: One Recruiter's View: Wirehouses are Rolling out the Red Carpet for Big Bank Brokers.
January 1, 2007... Until recently, bank recruiters were chasing wirehouse brokers in a one-way courtship. But the tide is turning. No longer are upper-echelon, mid-career bank advisors seen as the poor relations of the financial services business. They are being...

Broken Promises: What can happen When a bank misrepresents its case to lure brokers away from their practices?
January 1, 2007... In the summer of 2003, a team of three high-powered brokers at Merrill Lynch in Cleveland got an offer they couldn't refuse from Bank of America: Move out to sunny San Diego and become the lynchpin of a bank-based brokerage business in one of...

Nailing Down The Deal.
January 1, 2007... What can brokers do to insure that a move to a new bank will work out as promised, and not turn into a professional disaster? Danny Sarch, president of Leitner Sarch Consultants, a financial services executive search firm in White Plains, N.Y.,...

From Teller to Top Producer: Huntington's David Merola started at the bottom, but now he's sitting pretty at the head of a team that produces $3 million.
January 1, 2007... It's a rags to riches story any platform rep could aspire to-Huntington Bank's David Merola starts out as a teller, becomes part of an experiment to license branch staff, and a little over a decade later is producing $3 million. Starting out at...

Book Smarts: What are the rules of engagement when working your book of existing clients to sell more products and maintain relationships?
January 1, 2007... For years there's been a steady drumbeat that bank reps must do a better job of working their existing books of business. Selling products to, and servicing current clients, is cheaper for banks than acquiring new clients. It can also keep...

Keep On Trackin': Great athletes know that monitoring their statistics and tweaking the nuances of their game will deliver results. The same is true for advisors-as long as you track the right metrics.
January 1, 2007... We've all made our new year's resolutions and no doubt set some higher goals. Will you be able to achieve them? For many advisors the annual goal-setting exercise is about as successful as the typical post-holiday diet. Here's a question...

Hunting in the Hawkeye State.
January 1, 2007... BIC: What are the new and unique opportunities in your territory? Driskell: We do "life planning," working with young families, helping grandparents save for their grandkids' education and estate planning. In a small community, news travels...