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Small Bank Brokerage Revenue Falls

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Brokerage business in community banks and credit unions fell to $17,415 per advisor in August, down 6% from the average for August 2005.

Kehrer-LIMRA, a unit of LIMRA International, Windsor, Conn., has included trailer and advisory fees in those figures.

Excluding trailer and advisory fees, average revenue per advisor fell 10%, to $14,877.

“We found a striking shift in revenue mix away from higher-margin variable annuities,” says Lynn Niedermeier, president of Invest Financial Corp., Tampa, Fla., which sponsors the survey.

Variable annuities accounted for a 28% share of brokerage revenue in community institutions in August, down from a 32% share in July, Niedermeier says.

Invest is a broker-dealer unit of Jackson National Life Insurance Company, Lansing, Mich., a subsidiary of Prudential P.L.C., London.


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