Survey of Staffing and Expense Profile of Back Office Operations in Bank-Owned Broker Dealers

As firms try to better understand their cost structure to optimize performance, the cost of back office operations is an important piece of the equation. However, the available data on bank brokerage operations in banks and credit unions have been very limited—just the percentage of revenue that is spent on operations. But what is included in “operations?”

Kehrer Bielan is conducting a survey that will enable financial institutions with their own broker dealer assess their operations staffing and expenses relative to their peers.

This survey takes the same approach as our highly regarded survey of the cost of compliance—ascertaining FTEs, compensation, and other expenses by functional position. You can purchase a copy of that study, for a deep discount, here.

We will analyze the survey data to profile the staffing and expense structure of each firm on a blind basis, and examine the differences in that profile by firm size, product mix, work flow models, use of technology, and other factors. The study will also help participating firms examine different models for processing business.

The survey was designed with input from 7 bank broker dealers:

  • BBVA Compass Investment Solutions
  • BMO Harris Financial Advisors
  • Capital One Financial Advisors
  • M&T Securities
  • Peoples Securities
  • Santander Securities
  • Synovus Securities

The survey consists of two parts:

  • An excel workbook listing the operations/back office functions with a worksheet for the FTEs devoted to each function and a second worksheet for the compensation and other expenses for each function. PleaseThis email address is being protected from spambots. You need JavaScript enabled to view it. that you plan to participate in the survey, and we will send you the workbook and instructions as an attachment by return email.

The cost of participation is

$5,000 for firms with more than 75 Advisors
$2,500 for firms with fewer than 75 Advisors



Kehrer Bielan has identified streamlining operations as one of the 5 Pillars of Performance—the foundation for growing the investment services business in financial institutions