The people who sell insurance products and securities through financial institutions were more productive this past August than they were in August 2016, according Stathis Partners.
Stathis Partners looked at August financial institution sales production figures with help from LPL Financial, for a monthly report distributed by the Bank Insurance & Securities Association
Stathis Partners analysts found that bank financial consultant revenue from one-time sales transactions fell to $about 16,000in August, from about $19,000 in the comparable month in 2016.
But, thanks to strong sales in the past of products that generate recurring revenue, recurrent revenue averaged about $22,000 per financial consultant, up from about $14,600 per consultant in August 2016.
Representatives for platform programs were also more productive. They averaged about $1,300 in sales in August, up from about $1,000 in August 2016.
Variable annuity revenue accounted for 13% of the revenue in August, and life insurance accounted for 4.8%, according to Stathis Partners.
BISA makes more Stathis Partners data available here.
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