A growing number of wirehouse advisors are showing more interest in bank brokerage programs today. To clarify, almost all wirehouses are now bank-owned, but the space we are referring to is that which positions advisors directly in a bank branch. The primary appeal, of course, is access to clients and the ability to grow assets under management. However, the culture in a bank is certainly different than your standard wirehouse branch. The question becomes which is best suited for you?
Years ago, bank programs were not held in the highest esteem. They were often seen as places where those who were less than successful at mainstream firms went to finish their careers. During this era, bank brokerage programs were usually all about annuity and mutual fund sales. Platforms were often limited, and advisor/client relationships tended not to run deep.
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