WAXHAW, N.C. Both banks and credit unions are placing greater emphasis on investment services programs, according to a new report from Kehrer Saltzman & Associates.
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Last year 27% of commercial banks offered investment services, the first increase since 2001, the study shows, pointing out that for years the percentage of all U.S. banks selling investments hovered just under 25%. At banks and CUs, income from investment services jumped 17% in 2012 year-over-year.
FIs with their own broker-dealers benefitted the most, seeing a revenue jump of more than 19%. Banks and CUs using third-party marketers, in comparison, grew only 8%.
