Date: 07.03.13

New White Paper Explores Benefits of Integrating Brokerage, Trust and Private Banking Client Experience

St. Cloud, MN – Many financial institutions separate brokerage, trust and private banking when serving clients. In its newest Guide-to-Growth white paper, released this week, Cetera Financial Institutions examines the opportunity awaiting banks and credit unions that instead choose to embrace an integrated service approach to enhance the client experience.

Titled “Maximizing Your Customers’ Experience Through an Integrated Wealth Management Offering,” this eighth installment of the Guide-to-Growth white paper series was produced in collaboration with Dr. Kenneth Kehrer and draws on data from MacroMonitor, the United States’ largest retail financial services and marketing database. Among the key findings is that nearly 40 percent of trust and private banking clients maintain brokerage accounts outside the financial institution, a reality that equates to a sizable missed opportunity for banks and credit unions, both in terms of profitability and client loyalty.

The study also indicates a preference among these same clients to receive their financial services within the walls of their bank or credit union.

According to the data, trust and private banking clients were at least four times more likely to say they have “a great deal of trust” in their bank or credit union compared to a wirehouse. When asked which type of institution they prefer to handle all of their financial needs, more than 70 percent of private banking clients and nearly 60 percent of trust clients selected their bank, compared to just 5 and 6 percent choosing a wirehouse, respectively. Yet, for all of this preference, brokerage has achieved only modest penetration of this opportunity, largely due to the segregation of wealth management services.

“We see the opportunity and we’ve worked extensively with our client financial institutions to develop their cross-selling and encourage integration,” said Catherine Bonneau, president and CEO, Cetera Financial Institutions. “Integration of wealth management services makes it easier to holistically meet clients’ needs. This approach is more convenient, gives the clients more peace of mind, and it also enhances their loyalty and improves the financial institutions’ bottom line. It’s a win-win situation. The more financial institutions embrace this service model, the more successful they will be.”

Cetera Financial Institutions’ new white paper is available here:

About Cetera Financial Institutions

Cetera Financial Institutions delivers customized investment and insurance solutions to nearly 500 financial institutions. With its focus exclusively on banks and credit unions, Cetera Financial Institutions offers flexible program options that help deepen relationships with clients, grow fee income and fulfill financial institution goals. As a member of Cetera Financial Group, Inc., the firm is able to offer all the benefits of a large, well-capitalized broker-dealer, including innovative technology, leading wealth management and advisory platforms, and comprehensive broker-dealer and registered investment adviser services, with the personal relationships often found only at a boutique firm. For more information, see

Cetera Financial Institutions is a marketing name of Cetera Investment Services LLC, a self-clearing, registered broker-dealer and registered investment adviser. Cetera Investment Services is a member of the Depository Trust and Clearing Corporation (DTCC), the Securities Investor Protection Corporation (SIPC), and the Financial Industry Regulatory Authority (FINRA).

Investment and insurance products are: * not FDIC/NCUSIF insured * may lose value *not financial institution guaranteed *not a deposit *not insured by any federal government agency.