NU Online News Service, April 25, 2005, 4:10 p.m. EDT
The securities brokerage business in community banks and credit unions showed a slight improvement in February over last year, according to the research firm Kenneth Kehrer Associates, Princeton, N.J.[@@]
The average gross brokerage revenue per financial advisor, including trail commissions and managed money fees, was $22,075, less than 5% above the level of $20,761 achieved in February 2004, according to Kehrer.
Brokerage revenue for the month in these institutions slipped 1% from January’s level of $21,880.
Kehrer’s index of community bank brokerage revenue rose to 114, from 109 a year earlier. The index is based on a benchmark of 100 set in 2002.
But that index has dropped recently after attaining an all-time high of 144 last April, notes Lynn Niedermeier, president of Invest Financial, a unit of National Life Insurance Company, Lansing, Mich. Invest Financial sponsors the monthly survey.