Bank-affiliated brokerages have been big revenue earners for banks, especially since the financial crisis struck in 2008, but a new Aite Group study found that banks could and should be doing much more to boost revenues from cross-selling wealth management products to retail bank customers.
The financial services research group’s study discloses that not all bank-based financial advisors have bought into the benefits of leveraging internal partners and cross-selling non-investment solutions to bank customers.
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