Creating a Broker Dealer 

For Community America Credit Union, Kehrer Bielan conducted an assessment of whether the credit union’s investment services business could support a broker dealer. Subsequently, we managed the process of selecting which BD functions to outsource, applying for FINRA registration, and obtaining regulatory approvals. For more information about this engagement, contact This email address is being protected from spambots. You need JavaScript enabled to view it..

Assessing the Operations Efficiency of a Bank Broker Dealer

Kehrer Bielan analyzed the expense structure of a bank-owned broker dealer, comparing its experience with peers with similar scale and business mix. The analysis encompassed expense ratios for management, marketing, compliance, and operations. For more information about this engagement, contact This email address is being protected from spambots. You need JavaScript enabled to view it..

Designing a Compliant Referral Incentives Plan 

For a top 40 bank, Kehrer Bielan conducted an assessment of its referral incentive plan. That engagement found that referral incentives that paid a nominal amount per referral are not as effective as plans that integrate referral compensation into the institution’s compensation plan. We then consulted on the development of a compensation plan that would reward client-facing bank staff and their managers for the success of investment services in their footprint, which encourages referrals but is compliant with Reg R. For more information about this engagement, contact This email address is being protected from spambots. You need JavaScript enabled to view it..

Assessing a Bank's Brokerage Business

For Heartland Financial, a $4 billion bank holding company headquartered in Iowa, Kehrer Bielan conducted an assesment of its investment services business, including comparing its performance metrics with its peer's and interviewing stakeholders in the bank—the heads of retail banking, Trust, and marketing, and selected Advisors. Kehrer Bielan principals presented their recoomendations to the top executives of the bank, which were used as the basis for charting the firm's future direction. For more information about this engagement, contact This email address is being protected from spambots. You need JavaScript enabled to view it. .

Developing a Life Insurance Services Strategy for Wealthy Bank Clients

For one of the largest global wealth management firms, Kehrer Bielan consulted on adding life insurance to the services provided by wealth advisors. The Kehrer Bielan team worked with a task force to define and evaluate the distrubution options, including conducting case studies of the alternative ways that life insurance is delivered to wealthy clients in financial institutions. The engagement included coordinating the selection of a general agency, including drafting an RFP and evaluating the propsals;  developing a job description for the director of insurance services; and assisting in the search for a director. The firm is actively selling life insurance today. For more information about this engagement, contact This email address is being protected from spambots. You need JavaScript enabled to view it..

Selecting a TPM

For FirstMerit Bank in Akron, Ohio, Dr. Kehrer and Jon Gabriel consulted on the selection of a third party broker dealer (TPM).  The assignment included drafting an RFP, reviewing proposals, and participating in reviewing presentations by the finalists.  Dr. Kehrer has conducted dozens of similar assignments over the years. For more information about this engagement, contact This email address is being protected from spambots. You need JavaScript enabled to view it..

Expert Witness in Arbitration Hearing

Dr. Kehrer was an expert witness for CalFed Bank in an arbitration in which two dismissed employees were claiming whistleblower status.  Dr. Kehrer has served as an expert witness in dozens of cases and has written expert reports and provided testimony at trial or arbitration hearings on such diverse issues as contract disputes, employment disputes, and trademark issues. For more information about this engagement, contact This email address is being protected from spambots. You need JavaScript enabled to view it..

Creating a Platform Program for Wells Fargo

Prior to its acquisition of Wachovia, Dr. Kehrer consulted for Wells Fargo on the development of a licensed banker investment sales force.  The assignment included consulting on best practices in selection of bankers to license, training, compensation of bankers and associated Financial Advisors, and expectations for personal production and referrals.  This assignment is similar to dozens of other engagements in which Dr. Kehrer has consulted on creating or improving a platform program. For more information about this engagement, contact This email address is being protected from spambots. You need JavaScript enabled to view it..

Reworking Advisor Compensation Plan

A top 10 bank was not getting the results from its Advisors that they were expecting, and had not revised its incentive plan in years. It engaged Kehrer Bielan to provide benchmarking data and consult on a major revision of the FA compensation plan. We found that the firm was paying on a monthly grid, when most of the bank’s competitors paid on an annual grid. The firm’s grid paid too high for lower producers and too low for higher producers, reflecting the dated plan. And there were no special incentives to reward alignment of an Advisor’s activity with the core objectives of the firm. We worked with the bank’s compensation specialists to make the grid more competitive and incorporate other incentives to reward for advisory business and annual production in-line with goals. For more information about this engagement, contact This email address is being protected from spambots. You need JavaScript enabled to view it..

Business Performance Review

A community bank wanted to understand how its investment service business was performing relative to its opportunity and initiate steps to increase performance level. Kehrer Bielan developed a scorecard identifying the strengths and opportunities the firm had with a corresponding action plan to leverage the strengths and capitalize on the opportunities. The recommendations were presented to the bank president and investment leadership, resulting in greater organizational understanding, partnering, and support for the investment services area. For more information about this engagement, contact This email address is being protected from spambots. You need JavaScript enabled to view it..

For more information about our clients, consulting, and consulting engagements, visit our Actionable Consulting page.