Academic journal article ABA Banking Journal

ABA Gets a Grasp on the World of Retail Investment Services

Academic journal article ABA Banking Journal

ABA Gets a Grasp on the World of Retail Investment Services

Article excerpt

The ABA Securities Association has launched a national survey of bank investment services. Questionnaires were mailed to over 4,000 commercial banks, savings and loan associations, and credit unions which offer retail investment services to customers. Different questionnaires were mailed to banking institutions which offer proprietary mutual funds and to those which do not offer retail investment services.

The ABA intends to determine the range and diversity of banking industry practices, policies, and procedures regarding the sale of non-traditional investment products to their customers. The survey will identify the most and least common practices, the most and least effective practices, and will help establish the banking industry's legislative and regulatory agendas.

Information will be collected regarding product categories, sales volume, rep registration levels, rep compensation structures, marketing and promotional activities, profitability, due-diligence and compliance issues, and other matters associated with providing retail investment Services.

A significant portion of the survey is devoted to Seeking bankers' ratings of the range and quality of services provided by their third-party marketing companies and product vendors, including mutual fund and insurance companies. …

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