Average rep production fell five percent in May relative to April, according to the Bank Insurance and Securities Association’s latest Monthly Productivity Benchmark reports.

Bank-based advisors produced an average $15,376 in May, down from $16,268 in April, in what Heywood Sloane, BISA’s managing director called a terrible month. “May is down because the markets were down,” he says. Platform reps fared even worse—their average production fell from $911 in April to $753 in May, a drop of 17%. “Yields were way down and people are backing off the markets,” Sloane explains of the drop in previously healthy fixed annuity sales that buoyed platform production.

Average advisor productivity, which languished at $14,187 in February, increased a whopping 23% to $17,520 in March only to slide again. But Sloane thinks that, from recent advisor feedback gathered for an upcoming report, the worst might well be over. “Our rep panel makes us think we’re seeing a turnaround,” he says. “Advisors are starting on new marketing plans.”