03.06.24
Demonstrating Resilience, Bank-based Advisors Record Solid 2023 Results
by: Kehrer Group
The newly released Kehrer Group 2023-2024 Annual Industry Checkup shows that the investment services business in banks and credit unions, faced with market uncertainty, recession fears and an evolving interest rate environment, continued to demonstrate resilience in 2023. Data showed that gross revenue from investment services increased 5.5% in banks and credit unions in 2023, average financial advisor revenue productivity improved 3.6% in financial institutions, and investment assets per advisor increased 7.5%. The report also showed that financial institutions grew brokerage and advisory assets 9.4% during the year.
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