Bank BD Operations Survey Preliminary Findings

Bank BD Operations Survey Preliminary Findings (February 2015)

In this report on our Bank Broker Dealer Operations Survey, we consolidated the detailed reporting of FTEs and expenses for the 50 broker dealer functions we’ve identified into the following functions:

  • New Accounts
  • Order Entry & Review
  • Trading
  • Managed Accounts
  • Clearing Services
  • Client Services
  • FinOp & Cashiering
  • Tech Support
  • Data Mgt & Reporting
  • Compliance
  • Other Overhead

The preliminary findings provide the average for the following 6 metrics across each function for the first six firms reporting:

  • Operations FTE per Advisor
  • Transactions per Operations FTE
  • Operations Expense Profile by function
  • Operations Expense as a percent of Revenue
  • Operations Expense per Advisor
  • Operations Expense per Transaction

The first 6 firms to contribute data are:

BBBA Compass
BMO Financial Advisors
Capital One Advisors
Key Investment Services
Navy Federal
Peoples Securities

Other firms plan to contribute data, and we will be updating the analysis as we process their data.


The cost of the preliminary findings is based on the size of your firm:

Fewer than 75 Advisors: $250
75 Advisors or more: $500

Your fee can be applied to the cost of participation if, upon seeing the preliminary findings, you decide to submit data for the survey.