Managed Money Increases, Cooperation Falls at Banks

HOLLYWOOD, FLA. Despite some bright spots, the bank channel has some surprising areas in need of improvement, according to findings from an annual industry survey.

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Comments (1)
I am surprised as well to see such a low number as far as cooperation. Is this the perception from the broker dealer or the entire organization? I think there may be a big difference in how the retail bank would see it. We at Truebridge talk to banks and credit unions every day about the topic of what the bank or credit union can do to provide more support for several business lines including investments and insurance. We see a willingness to provide support but oftentimes they are not sure what to do.
With branch traffic declining and online interactions focused soley on transactions, the opportunity to have meaningful dialogues that can uncover more needs and lead to referrals and sales appointments is declining. New techniques are needed to leverage branch and online channels in a way that drives more face to face sales in the branches.
Stewart Rose
Posted by Alexander R | Thursday, March 06 2014 at 9:20AM ET
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