Bank Investment Consultant articles from October 2007

Bank Investment Consultant archives from October 2007

Gold Fever.
October 1, 2007... It all looked good on paper. I remember reading proclamations by Bank of America's executives earlier this year when the deal was finalized: They wouldn't say how, but they were going to integrate U.S. Trust and become a high-net-worth...

VAs' Gain, Mutual Funds' Loss.
October 1, 2007... Variable annuity sales were up 20% in May over April's figures, and fixed-annuity sales rose 13% over the same period, according to the Aug. 29 Kehrer-Jackson Monthly Bank Annuity Sales Survey. Overall, annuity sales hit $4.1 billion in...

Advisors See Slow Growth In Second Half.
October 1, 2007... Advisors are less optimistic about the U.S. economic and political landscape than they were early this year, according to a Schwab institutional survey of 1,100 independent advisors. One-third of advisors expect no rise in the Standard &...

Demand for Advisors Rises.
October 1, 2007... Broker-dealers are no longer distinguishing between different channels (bank, brokerage, independent) in their quest to hire new advisors. What's great for advisors is that demand for their services far outstrips supply, forcing broker-dealers...

Expanded Fiduciary Role Opens Up 401(k) Business.
October 1, 2007... The Pension Protection Act ushered in changes to 401(k) plans, including fiduciary protection for providers using automatic enrollment and default investments, and making higher contribution levels and catch-up contributions for older workers...

Will U.S. Trust Be A Good Fit?: Bank of America's Newest Acquisition Is Off To A Rocky Start.
October 1, 2007... What do you get when you cross Wal-mart and Tiffany's? According to Morningstar bank analyst Ganesh Rathnam, the result would be something akin to Bank of America's acquisition of U.S. Trust. A huge retail operation, BofA is making its bid for...

Making Lemonade: How John Lugauer is leveraging local layoffs to help clients in transition-and his practice.
October 1, 2007... John Lugauer has built his growing practice on making lemonade out of life's lemons. He helps downsized employees turn their retirement savings into workable plans. A financial consultant for Investment Centers of America at Kalamazoo...

Referral Madness: Ten proven ways to get referrals without really asking.
October 1, 2007... I'm a big believer in asking your clients for referrals. And I know that many financial professionals have a block against asking for referrals that they can't seem to conquer. The good news is that all is not lost. Here are 10 proven ways to...

Funding the Trust: Estate attorneys draw up trust documents, but you have to help clients fund them.
October 1, 2007... Revocable living trusts HAVE been misrepresented in the past as tax shelters among other things, giving these vehicles a bad name. But such trusts have invaluable uses that shouldn't be overlooked. With them, clients can avoid a costly and...

Navigating VAs: It's hard to keep up with all the shape-shifting riders and fluctuating expenses in variable annuities. Here's a little help.
October 1, 2007... Annuities are usually a big part of a bank consultant's sales, but they're getting so complex, it's challenging to keep up with the changes. "There are so many annuities out there that if you don't focus on a few, you'll be confused as an...

Fields of Gold.
October 1, 2007... BIC: What new opportunities are opening up in your territory? Meyer: I've been talking to clients about domestic oil-and-gas drilling programs, which are partnerships that act like company stock and typically allow a 90% tax writeoff of...