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Report Card on Banks 2023 main chart

How branch-based financial advisors and planners rated their firms’ performance

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Banks must support digital tools with advisor training

Branch advisors say institutions aren’t adequately preparing them to use new technology

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Big-Six branch advisors say product restrictions aren’t a problem

Advisors recognize the limits of a restricted shelf, but say they’re still able to serve clients

  • By: Katie Keir
  • September 18, 2023 September 15, 2023
  • 00:12
sharing ideas

A welcome bump for the back office

The category saw the biggest rating improvement in the Report Card

How we did it: Report Card on Banks

Methodology for the 2023 Report Card on Banks

  • By: IE Staff
  • September 18, 2023 September 15, 2023
  • 00:07
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Why aren’t bank advisors happy with their compensation?

The Big Six are falling short of retail planners’ salary expectations

  • By: Emily Fox
  • September 18, 2023 September 18, 2023
  • 00:04

Average advisor getting younger as assets shrink

Amid uncertain economic conditions, allocations are shifting away from equity funds and into fixed-income products

puzzle problem solving

Support is key to retaining branch advisors

Listening to advisor feedback and adapting strategies drove banks’ Report Card ratings

  • By: Katie Keir
  • September 18, 2023 September 15, 2023
  • 00:02
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Big banks improving efforts to help advisors grow

While advisors say business development support is important, satisfaction levels lag

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Report Card on Banks 2022 main chart

How branch-based financial advisors rated their firms’ performance

  • By: IE Staff
  • August 29, 2022 August 29, 2022
  • 00:10
Concept of improving satisfaction

Banks say they’re listening, but not all advisors agree

Responsiveness to feedback is important to advisors, but communication gaps remain

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Bank advisors saw rise in productivity

Branch-based advisors with the Big Six enjoyed book and client-roster growth

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Banks stand firm on cutting product shelves

While some advisors have criticized banks for eliminating active selling of third-party products, many are happy with in-house selection

  • By: Katie Keir
  • August 29, 2022 August 29, 2022
  • 00:06
A woman adding a star to existing ratings

Banks struggle to improve ratings

The lowest-rated bank was critiqued on compensation and technology, but it wasn't the only one

Concept of IT problems

Overcoming tech troubles remains an uphill climb

Four banks received below-average ratings for their technology tools

How we did it: Report Card on Banks 2022

We detail the methodology for the Report Card on Banks

path to success

Wanted: Enhancements to in-branch HNW services

Advisors need more support to retain mass-affluent clients with growing wealth

  • By: Emily Fox
  • August 30, 2021 August 26, 2021
  • 00:15
the easy path or the difficult path

Some advisors frustrated by lack of planning support

Advisors at certain banks said they didn’t have much to offer in the way of estate planning and financial planning


Banks trim product offerings ahead of CFRs

Product shelves at some banks are changing thanks to the client-focused reforms

  • By: Katie Keir
  • August 30, 2021 August 26, 2021
  • 00:11

Bank advisors’ AUM remains stable, but asset mix changes dramatically

Advisors swung sharply toward mutual funds and away from most other products


Changes to compensation garner mixed reviews

Advisors’ bonuses are increasingly being tied to client satisfaction

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Report Card on Banks 2021 main chart

How bank-branch advisors rated their firms

  • By: IE Staff
  • August 30, 2021 August 26, 2021
  • 00:06

Satisfaction grows for bank advisors, but barriers remain

Advisors and planners have some unmet expectations when it comes to their banks’ support services

working from home

Flexible work policies paid off for banks

Some advisors who couldn’t easily work from home expressed frustration

customers at a bank wearing masks

How the pandemic changed banking

Covid-19 forced the Big Six to improve a perennial sore point in the Report Card on Banks: Technology