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Bank Brokerage Revenue Up In October

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Brokerages in community banks and credit unions increased monthly gross revenue to an average of $21,799 per financial advisor in October, from $19,550 a year earlier.

Those figures include trailer and advisory fees collected by the banks.

Excluding those fees, average revenue per advisor rose to $15,661, from $14,554 in October 2005, according to Kehrer-LIMRA, a unit of LIMRA International, Windsor, Conn., which conducts the monthly survey.

The index of community bank brokerage revenue rose to 150 for the month, from 117 a year earlier. The index is pegged to a revenue benchmark of 100 set in 2002.

The survey is sponsored by Invest Financial Corp., a division of Jackson National Corp., Lansing, Mich.