Bank Brokerage Execs See Associate Advisors As The Answer

Participants seemed to be channeling Jeopardy as they explained how they were solving various business challenges during the Spring Tuneup meeting of the Kehrer Bielan study group of executives who manage investment services in banks and credit unions.

How to ween advisors away from holding on to too many clients?  Give some of the clients to less experienced advisors who are mentored by a senior advisor.

How to grow the advisor sales force as the shortage of experienced advisors accelerates?  Add less experienced associate advisors.

How to create a succession plan to retain advisors nearing retirement?  Pair them with junior brokers.

It was clear from the two days of discussion at the Fearrington House Inn near Chapel Hill that associate advisors are gaining traction at many institutions.  Kehrer Bielan research has demonstrated that associate advisors are more effective in boosting a firm’s performance than sales assistants.


The Spring Tuneup meeting also included discussion of how firms are adjusting compensation to eliminate potential conflicted advice, what consumers think about advisor compensation, product trends, managing omni channel delivery of investment advice, and the need to change how firms recruit, compensate, and onboard advisors. Click here to obtain the agenda.