Publications

March 3, 2014

Perspectives on Wealth Management in Banks: Insights from Pacesetters White Paper

Fidelity released a White Paper survey of 140 bank executives.  It concludes banks are in need of fee income largely because lending businesses have declined due to stricter underwriting criteria.  Banks are thus seeking to gain increased fee income from wealth management / advisory sales.  For "Pacesetters" (those with wealth management practices and other traits), wealth management fee income currently contributes 28% to the banks' total income, an increase of 40% over the last 2 years.  Pacesetters see this growing to 35% in the next 2 years.  Most executives see their fee income from sales to grow at least 25% in 5 years.  https://nationalfinancial.fidelity.com/app/literature/item/9587024.html

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