The number of banks and credit unions associated with TPMs has been flat for the past several years, hovering in the neighborhood of 2,900, according to data from Kehrer Bielan Research and Consulting.
While the number of institutions has been static, their brokerage and wealth management programs are often in play. So far this year, at least 9 banks switched their investment services programs to new third-party broker dealers, based on announcements from TPM firms. One outsourced its broker-dealer operations for the first time.
All 10 institutions are listed here. More on TPMs: