Bank-based advisor production rose 2% in April from March’s boisterous $32,296, according to the Bank Insurance and Securities Association’s latest Productivity Benchmark report, the data for which is compiled by Kehrer-LIMRA.

The results aren’t much of a surprise—back when March’s numbers came out, Scott Stathis, managing director and chief operating officer of Kehrer-LIMRA, predicted that while April wouldn’t match March’s unusually high sales—which were 29% higher than in February—April’s production figures would get a bump from quarterly fee payments. Indeed, bank reps’ commission-only figures slipped 11% to $19,722 in April from March.

Heywood Sloane, BISA’s managing director, says that advisors in the organization’s monthly rep panel predicted as much: The number of advisors predicting a better month ahead in March dropped 16% to 53%, meaning that only around half were bullish about April.

May’s production figures are as unpredictable as that month’s market conditions, though, Sloane continues. “I wouldn’t predict a number, but I also wouldn’t be surprised if it was lower,” he says. “From what I’ve heard anecdotally, May was not kind to advisors.”


Register or login for access to this item and much more

All Bank Investment Consultant content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access