Bank brokerage revenue improved slightly in August over year-earlier levels.[@@]
The Kehrer-Invest Index of community bank brokerage revenue improved to 122 in August, compared to 120 in August 2004. The index, compiled by Kenneth Kehrer Associates, Princeton, N.J., is based on a standard of 100 set in 2002.
The average gross brokerage revenue per financial consultant, including commissions and fees, was $19,335 in August, down 13% from the total recorded a year earlier.
Excluding trailer and advisory fees, August revenue was $17,142, down 9% the August 2004 total.
The revenue drop was due in part to lower market values for client assets, says Lynn Niedermeier, president, Invest Financial Corp., sponsor of the survey. Invest is a subsidiary of Jackson National Life Insurance Company, Lansing, Mich.