NU Online News Service, May 13, 3:55 p.m. – Bank broker-dealers reached or came close to all time highs in productivity, revenue and profit contribution during the first quarter, according to the Bank Securities Association, Wayne, Pa.
Full-time Series 7 retail investment sales reps working in banks averaged gross commissions of $25,382 per month during the first quarter, up 8% from the first quarter of 2001.
The total was still down 19% from the all-time high of $31,209 recorded in the first quarter of 2000, but the bank broker average monthly gross jumped to $28,124 in March, up 19% from February. That was the biggest month-to-month increase in the last 23 months.
Average licensed branch banker monthly gross commission revenue increased 45% between the first quarter of 2001 and the latest quarter, to $2,752.