• Throwing the Baby Out with the Bath Water

    Identifying the Hidden Assets in Your Client BaseIn a recent Kehrer Bielan flash survey, 71% of the 47 participating firms indicated that they are segmenting their client base and limiting access to traditional across-the-desk advisors for clients with small account holdings, typically less than $50,000. But, based on our client level data, many of those customers have investable assets stashed at other firms. Wouldn’t it be helpful to know which clients have significant assets that you ha...  Read More...

  • Our BISA Takeaways

    We look forward to the BISA Annual Convention every year, and we always appreciate being part of a great event. We were particularly pleased to be able to contribute our insights to this year’s conference through many concurrent sessions and the peer group breakout sessions. And we were humbled by the Association’s recognition of our experience and technological achievements.It was a jam-packed conference.   Read More...

  • Year in Review: 2017

    Let’s look at the past 12 months through the lens of some of the surveys we conducted during the year.In our survey of executives who manage investment services businesses in banks and credit unions conducted one year ago, 62% said they expected the Department of Labor’s Fiduciary Rule to be delayed or modified by the incoming administration. Only 3% expected it to be repealed entirely. Today, those predictions look largely correct – the Rule has been modified to be friendlier ...  Read More...

  • Digital Is Still in its Infancy: When Will it Grow Up?

    Among the 47 bank brokerage firms that participated in our recent survey on omni-channel segmentation, one-out-of-five reported having a digital platform where clients can obtain advice. Many more aspire to have a digital advice platform, but that leaves nearly half of the firms surveyed who do not currently have a digital platform and have no plans to deploy one.Large firms are further ahead in developing their digital advice platforms, relative to smaller firms. Among banks that own ...  Read More...

  • How to Segment Your Delivery Service

    In our recent survey on omni-channel segmentation, 71% of the 47 firms surveyed said that they had already implemented a segmentation strategy to deliver different levels of service to different clients, or that they are discussing one. So what basis are firms using to make segmentation decisions? In our survey, the answer was universally: the size of the client's investment account.Among firms that have implemented a segmentation strategy or are discussing one, 100% reported segmenting base...  Read More...

  • Good News: Financial Planning Activity Increasing in Banks and Credit Unions

    Much has been written about the role of financial planning in the modern investment services firm, including in our three-part series on the subject: The New Importance of Financial Planning. So how has the industry responded? Are advisors preparing more plans than they did previously?This simple question is difficult to answer, because despite the growing importance of financial planning, a majority of firms are unable to report the number of plans their advisors prepared for clients the previo...  Read More...

  • Fiduciary Rule: From Doom and Gloom to Thoughtful Change

    Since the Department of Labor's fiduciary standard for qualified retirement accounts was first announced, banks have "made some thoughtful changes to their compensation plans," said Peter Bielan, principal of Kehrer Bielan Research & Consulting during his recent appearance on Bank Investment Consultant's podcasts. Bielan spoke with BIC editor Lee Conrad to reflect on the changes that have occurred to advisor compensation in response to the rule."When the rule was first...  Read More...

  • Let's Play Jeopardy: What Are Junior Brokers?

    Bank Brokerage Execs See Associate Advisors as the AnswerParticipants 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 f...  Read More...

  • Catch and Release: Bank Brokerage Firms Struggle to Recruit and Retain Sufficient Numbers of Advisors

    Investment Services Executives Discuss Ways to Improve OnboardingThe number of financial advisors working in banks and credit unions declined by 1.1% in 2016, even as the opportunity in investment services for financial institutions continues to grow, suggesting that the industry is ill-prepared to take advantage of the opportunity. That was one of the key findings shared at Kehrer Bielan's semi-annual study group for executives who manage investment services businesses inside financial inst...  Read More...

  • More Customers Can Invest Where They Bank Than Ever Before

    The number of banks offering investment services has declined almost every year for the past several years. But the banking industry has been consolidating even faster. As a result, the share of banks offering investment services has increased substantially.According to FDIC Call Report data, 1,656 US retail banks report investment fee income, down 29% since 2007.   Read More...

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