Bank Investment Consultant articles from November 2003

Bank Investment Consultant archives from November 2003

Supermarket Thinking.
November 1, 2003... Do you remember the first time you walked into your local supermarket and discovered that it sold prepared food? That question probably dates me and reveals my New York City provincialism (I'm sure jumbo stores south and west of the Hudson...

Reps Say Fund Woes Have Little Effect - Yet.
November 1, 2003... Diversification and professional management have made mutual funds a favorite of most investors - and the bread-and-butter product for many bank reps. But recent mutual fund problems, including New York Attorney General Elliot Spitzer's probe...

Cusack Joins Bank One from Schwab.
November 1, 2003... Jeff Cusack, formerly senior vice president of managed accounts at Charles Schwab & Co., has joined Bank One to head up its Private Client Services' product and marketing group. His role will be to expand the bank's product line, with an...

Networking and Chemistry Are Key to Finding Right Reps, Say Bank Recruiters.
November 1, 2003... Want to attract and retain good reps? Network like crazy, then give the reps you attract the tools and guidance they need to manage their business effectively. That's the message from participants in a panel discussion on investment rep...

Rep Market Heats Up.
November 1, 2003... Demand for bank investment consultants seems to be heating up. Paul Werlin, president of Human Capital Resources in St. Petersburg, Fla., says that his recruitment firm is the busiest it's been for at least a year. "There's been a...

New Products.
November 1, 2003... * LaSalle Broker Dealer Services Division has created an FDIC-insured, inflation-protected certificate of deposit. The CDIPs pay a fixed rate of interest semi-annually on the inflation-adjusted principal. Certificates are available in $1,000...

Provider Notes.
November 1, 2003... * Morningstar is dividing its foreign stock mutual fund listings into five categories: foreign large value, foreign large blend, foreign large growth, foreign small-mid-cap value and foreign small-mid-cap growth. The change will affect open-...

Safeco to Sell Investment, Insurance Lines.
November 1, 2003... Safeco Corp. has decided to put its life and investment business up for sale. Michael McGavick, the Seattle insurer's chief executive officer, said in early October that it has become "apparent that we could not be truly excellent in both...

November Calendar.
November 1, 2003... Nov. 1-4 Success Forum Financial Planning Association Philadelphia Convention Center Philadelphia 800-322-4237 or www.fpanet.org Nov. 4-6 Consultants Conference Investment Management Consultants...

Gearing Up for Success: Wachovia's Jeffrey Smith is profiting from a niche others may never have considered - long-distance truckers.
November 1, 2003... Jeffrey Smith found his market niche on the Interstate - purely by accident. About three years ago, an insurance specialist friend asked Smith to help arrange some financing for a truck manufacturer. "The company re-outfits and...

Secrets of Insurance Success: Training, incentives and a dedication to the product are driving the best programs forward.
November 1, 2003... Selling insurance through banks seems like a natural. So why, then, haven't insurance sales gained much momentum? Some experts blame a silo-like selling approach and skewed compensation incentives. Others believe it's inadequate training....

Update: An Investment Roundtable Discussion.
November 1, 2003... Last November, before the outbreak of the war in Iraq, Bank Investment Consultant assembled a group of investment professionals to discuss the outlook for 2003. Recently, we asked the same panelists to review what's happened since they last met...

A New Day in Trust: Trust departments are becoming friendlier to reps and investors. Here's why.
November 1, 2003... RCB Bank is Oklahoma's tenth largest. But with just $670 million in assets, RCB wasn't sure that running its own trust department made sense. On one hand, the 67-year-old bank had expertise in the assets - such as ranches and farmland - that...

Managing the Move to Fees: Experts say upfront incentives remain the key to success.
November 1, 2003... Convincing bank reps to move to a fee-based pricing model is a tough sale. While the benefits of shifting away from commissions are tempting - the promise of recurring revenues and the potential to attract more affluent clients, to name just...

An Average Month in Ocala.
November 1, 2003... This month, BIC explores the monthly activities of Curtis Guyer, a vice president, investment officer, at SouthTrust Securities, Inc. in Ocala, Fla. With a population of about 50,000, Ocala is a retirement and ranching center in very...