06.17.24
Banks and Credit Unions Post Solid Investment Services Gains
by: Kehrer Group
Kehrer Group's Annual Benchmarking Survey revealed that despite the challenges of last year, bank and credit union investment services practices grew revenue and client assets under administration, added advisors and made modest enhancements to advisor productivity. For the previous seven years, investment services revenue in financial institutions grew at an average annual rate of 4.4%. In 2023, gross revenue was up 7.2%. Banks with less than 25 advisors outpaced banks with at least 25 advisors and credit unions, but solid performance was seen in all sectors.
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