Insights | 12.05.22
Monthly Industry Benchmarking Reports
by: Stathis Partners
Produced by Stathis Partners and powered by LPL Financial and Infinex Financial Group, the Monthly Benchmarking Reports are available exclusively for BISA members. Through monthly industry insights, BISA provides members valuable data on the banking and insurance industry to better understand trends that can impact their businesses. Find the latest benchmarking report below, or read reports from past months.
Newest Report Released:
High-Level Summary of the December 2022 Monthly Benchmarking Report
Recurring Revenue Spike Falls Short | Fixed Annuities Back in the Spotlight
Quarterly fees in October bolstered financial consultant productivity 19% over September, but recurring revenues tumbled from last October’s boon by 20%.
However, household and deposit revenue penetration sank 12% and total FC production fell only 10% – as transactional productivity approaches levels we haven’t seen since 2018.
- Compared to October 2021, monthly transactional production shot up over $16,000 per FC as fixed annuity activity rose 20%
- Thirty of the 45 institutions participating in both periods reported double-digit declines in recurring revenue dollars in October
- Transactional revenue accounted for 36% of total revenue in October on average, compared to 29% in the previous year
- Year-to-date, total monthly FC productivity at $49,000 maintains a 5% lead over 2021
- Programs with at least 11 FCs reported significant growth in their transactional revenue mix:
Recent Benchmarking Reports:
Full results of the Benchmarking Reports are available to BISA members only. Learn more about membership on the BISA website or by emailing us at: bisa@bisanet.org.
