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Practice Management > Compensation and Fees

Bank Broker Revenue Climbs In July

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The brokerage business in community banks and credit unions was about 16% higher in July than it was a year earlier.

The Kehrer-LIMRA community bank brokerage revenue index rose to 179 in July, up from 154 in July 2006, according to Kehrer-LIMRA, a unit of LIMRA International, Windsor, Conn.

The latest index figure means that community bank brokerage revenue was 79% higher in July than in the average month in 2002, when the index was created.

Average bank broker sales commission revenue, including trail commissions and managed money fees, jumped to $34,050, up from $20,478 in July 2006, Kehrer-LIMRA reports.

Excluding trail commissions and managed money fees, the average revenue per advisor was $24,035, up from $14,744.

The figures include banks and credit unions with assets of less than $4 billion.