• Assets Flow to Providers of Financial Plans

    According to the MacroMonitor, 11 percent of US households have a written financial plan, but only 10% of them – 1% of all US households – have obtained that plan where they bank. As banks and credit unions consider the extent to which their financial advisors have embraced financial planning, they should be mindful of the effect of plan penetration on where households keep their financial assets.The MacroMonitor data indicate that the average US household keeps 59% of its savings an...  Read More...

  • Assets Flow to Providers of Financial Plans

    According to the MacroMonitor, 11 percent of US households have a written financial plan, but only 10% of them – 1% of all US households – have obtained that plan where they bank. As banks and credit unions consider the extent to which their financial advisors have embraced financial planning, they should be mindful of the effect of plan penetration on where households keep their financial assets.The MacroMonitor data indicate that the average US household keeps 59% of its savings an...  Read More...

  • How Much Are Referrals Worth to an Advisor?

    Highlights from the 2018 Advisor Compensation StudyOver the past few years firms have felt the impact of an ever-increasing market demand for high performing Financial Advisors. The changing behavior to greater advisory revenue has created an increased emphasis on Advisors who can consistently produce in this environment, and firms now more than ever are changing their compensation outlook to attract these types of employees. While many disruptive types of Special Incentives are being introduced...  Read More...

  • Gender Divide on Retirement Preparedness: Men Bullish, Women Tentative

    According to the new study from Global Atlantic Financial Group and Kehrer Bielan—Gender Dynamics in Retirement Investor Households—32% of clients who advisors work with say they don’t know how much to save for retirement. But only 26% of client households where a man makes retirement investment decisions express uncertainty.Similarly, retirement investor households where a woman makes or influences investment decisions are much more likely to say they need expert help in retir...  Read More...

  • Banks and Credit Unions Struggle to Grow Advisor Force

    Annual Checkup Reveals Softness in Growth EngineWhile financial institutions grew their revenue a robust 9% in 2018, this year’s Kehrer Bielan Annual Industry Checkup identified a troubling trend: banks and credit unions are losing ground in the uphill climb to recruit and retain the advisors needed to grow the business. Decades of research by the firm have confirmed that adding advisors is a key to growing revenue and increasing penetration of the institution’s customer opportu...  Read More...

  • Bank-Based Advisors Add More Advisory Assets

    Maintain Level of Asset Acquisition, Shift Away from Transaction BusinessIn last year’s benchmarking surveys, Kehrer Bielan found that the typical advisor in a bank or credit union added $7.4 million in new client assets, slightly more than the $7.3 million of asset accumulation the previous year. While the pace of asset accumulation is not accelerating, the composition of those new assets points to a stronger foundation for future growth.       Thirty-one percent of th...  Read More...

  • One Topic You Didn't Hear Enough About at BISA

    The 2019 BISA Annual Convention is in the books. To the many individuals that we were able to interact with over the course the conference and to all of you who attended our sessions and panels, thank you. We appreciate your interest in our work and the opportunity to share it with you.   Read More...

  • Your Clients Are More Valuable Than Ever Before

    Last week you read about how the talent crunch is influencing firm strategy at every level, from talent development to training to compensation. There is another trend that is having a similarly profound impact on our industry – the decline in branch traffic and referrals. Your clients are more valuable than ever before, because the cost of client acquisition has never been higher.   Read More...

  • The Talent Crunch Continues: How Are Firms Responding?

    Kehrer Bielan’s annual benchmarking surveys are in the field and from what we are hearing the competition for quality advisors remains intense.Some firms have responded to the crunch by developing an internal pipeline of talent to supplement their efforts to recruit externally. Interns, sales assistants, associate advisors, and licensed bankers can all be part of a bench team that the firm can draw from to fill vacancies, and sourcing a candidate internally takes less time and is less costly tha...  Read More...

  • Are Financial Institutions Improving Advisor Coverage

    Many financial institutions are trying to increase their advisor headcount to provide better coverage of the branch network and the opportunity in the institution’s client base. However, by the traditional measure of consumer deposits per advisor, they are just treading water. The 201 banks and credit unions covered by this year’s Kehrer Bielan benchmarking surveys had $265 million in consumer deposits per advisor, on average, slightly thinner advisor coverage than the previous year....  Read More...

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