Credit Unions Too

Recruiting, Support, and Succession Planning Are Top Priorities for Banks as They Look to Fend Off Increased Advisor Attrition


Author: Funds Society, Miami

  1. Over the last five years, the bank broker/dealer (B/D) channel has grown AUMs at a compound annual growth rate (CAGR) of 11.7%, while relative advisor headcount has only grown 0.7% annually
  2. While advisor headcount in the bank channel has remained relatively stable, as the average advisor continues to age, banks and credit unions need to prepare for potential challenges
  3. According to the research, 52% of bank executives and advisors are dissatisfied with their firm’s technology