The banks have put accusations of poor sales practices behind them, as advisors report having larger, more productive books
The support advisors need from their back offices is critical, but banks are failing to deliver in this important category
Banks have specialized support services, products and referral arrangements to help advisors take care of the wealthy
Advisors praised their firms' efforts at achieving strong, two-way communication - although some exceptions remain
The bad press that the banks received as a result of reports regarding unfair sales practices had little impact among clients
Banks deliver on their advertising campaigns, but more can be done in marketing support for advisors
At some banks, advisors resemble their brokerage or dealer counterparts; at others, they appear to be positioned much closer to traditional frontline retail bankers
Pablo Fuchs, senior editor with Investment Executive, and Fiona Collie, staff writer, discuss the results of this year’s Report Card on Banks, which show that the Big Six Banks are failing to live up to branch-based advisors’ expectations.
How advisors rated their firms
Surveyed advisors said much work is required in some key areas, such as support for tax planning, compensation, pensions and technology