NU Online News Service, March 10, 2005, 2:20 p.m. EST
In January, productivity of brokers in banks averaged $19,836, down from $21,676 in December, according to the Bank Insurance and Securities Association, Wayne, Pa.[@@]
The average productivity of licensed bankers was $1,331, down from $1,419.
Despite the drop, the index of bank broker-dealer revenue increased to 132 from 126 in December due in part to increases in managed money fees and improved performance among midsized banks, which pulled the average bank program revenue up, BISA reports. The index is based on a benchmark of 100 set in 1998.
The monthly survey is conducted by Kenneth Kehrer Associates, Princeton, N.J. and cosponsored by AXA Distributors and Bank of America Securities.