NU Online News Service, Jan. 20, 2004, 2:53 p.m. EST – The productivity of bank-based brokers rose 2% in November 2003.[@@]
The bank-based brokers brought in $24,800 in commission revenue that month, up from $24,357 the previous month, according to the Bank Insurance & Securities Association, Wayne, Pa.
But the productivity of licensed bankers fell for the second straight month, dropping 16% to $1,661, and the index of bank broker-dealer revenue fell to 111 from 133 the month before, based on a baseline of 100 set in 1998.
The BISA productivity report is compiled by Kenneth Kehrer Associates, Princeton, N.J., and cosponsored by AXA Distributors, New York, and Bank of America Securities, Charlotte, N.C.