Perhaps the most significant challenge facing established retail bank brokerage operations is how to broaden the relationships and revenue stream from a finite deposit base.

One response is to reduce dependence on transaction-based commissions and move toward more asset-based investment products. To this end, trail payments on mutual funds and even wrap account fee structures are getting increased interest in the bank environment. (The latter is slightly ironic, since the great-grandparent of all wrap accounts is the bank trust department relationship.)

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