Q: Many banks are quick to cite brokerages as their most serious competition. How does the securities industry view banks?

Lackritz: The area where we see the most competition is on the retail side, where everyone is competing for [investors] as long-term interest rates have declined.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.