How effectively are bank-based retail securities brokers selling investment products compared to their competitors in the traditional stock brokerage industry? Two recently completed mystery shopping studies by my company highlight the differences between the two distribution channels and provide insight into the strengths and weaknesses of each.

Traditional brokerage firms have some significant competitive advantages over bank brokerage firms: their brands are more synonymous with investing, they do not face the same regulatory scrutiny, and their industry is more mature.

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