Community bank brokerage revenues were up 19 points in June over a year earlier, although revenues per advisor were down.[@@]
The index of community bank brokerage revenues rose to 126 in June, up from 107 in June 2005, according to a survey by Kenneth Kehrer Associates, Princeton, N.J. The survey is sponsored by Invest Financial Inc., a broker-dealer in Tampa, Fla. and a unit of Jackson National Life Insurance Co., Lansing, Mich.
The index is based on a benchmark of 100 set in 2002.
Average gross revenue per financial advisor for the community banks and credit unions stood at $21,913 in the second quarter, including trailer and advisory fees. That was down from $24,255 a year earlier.
Excluding fees, the average gross revenue per advisors for the quarter was $18,366, down from $19,784.