An indicator of small bank securities brokerage revenues surged in April, bringing revenues close to the year-ago level, a monthly study shows.[@@]
The index of community bank brokerage revenue reached 143 in April, close to the record 144 recorded a year earlier, the study by Kenneth Kehrer Associates, Princeton, N.J., showed.
The index is based on a benchmark of 100 set for all of 2002. In other words, April’s brokerage revenues in community banks and credit unions were 42% above average 2002 levels.
The average gross brokerage revenue in community banks for the month amounted to $33,225 per financial advisor, up 19% from $27,844 a year earlier. Excluding trailer and advisory fees, the average was $26,392 per advisor, up 23% from $21,521 a year earlier.
The study of banks with less than $4 billion in assets was sponsored by Invest Financial, a unit of Jackson National Life Insurance Company, Lansing, Mich.