NU Online News Service, May 27, 2004, 3:23 p.m. EDT – Assets are still growing at bank third-party marketing operations.[@@]
Kenneth Kehrer Associates, Princeton, N.J., comes to that conclusion in a new report on bank TPMs.
The continued growth of assets at bank TPMs shows that the TPMs are strong enough to cope with the recent expansion of banks’ own broker-dealer operations, says Kenneth Kehrer, whose firm compiled the bank TPM report.
Most third-party broker dealers that did business in banks recorded strong increases in dollars invested in 2003, Kehrer says.