Financial advisors in credit unions produce more revenue than their counterparts in community and regional banks, according to a study released this week by Kehrer Saltzman & Associates.
“The average advisor in a credit union produced gross revenue of $262,972 last year, 8 percent more than the average advisor based in a bank that did not have its own broker-dealer,” said Tim Kehrer, the director of the survey and a senior research analyst at Kehrer Saltzman.
The 2012-2013 Kehrer Saltzman Credit Union Investment Services Benchmarking Study drew on data from 798 credit unions with investment services offerings and an in-depth survey of a sample of 45 credit unions about the workings of their investment services businesses.
“Advisors in credit unions lagged substantially behind advisors in the largest banks in average annual revenue,” noted Kenneth Kehrer, a principal of the firm. "But advisors in credit unions did somewhat better than advisors in banks of comparable size and structure.”