Floridian bank reps dominated the BIC Top 50 ranking (http://www.bankinvestmentconsultant.com/bic_issues/2009_12/the-top-50-bank-reps-2664567-1.html) this year with 10 advisors, despite the state’s dire job and real-estate markets.

Texas and Virginia each saw four of their advisors make the grade. Colorado, Maryland, New York, Pennsylvania and Tennessee each had three reps in the ranking; Georgia, Kentucky, North Carolina, New Jersey and Washington had two; Arizona, California, Delaware, Iowa, Minnesota, Montana, Ohio and South Carolina had one.

Fee-based business figured heavily in the practices of the BIC Top 50. Of all product categories, only managed accounts routinely represented more than half of an advisor’s book. This is true for almost one-fourth (22%) of advisors in this year’s top 50. Most advisors don’t go above 50% in any other product category, but when they do, it’s usually in mutual funds. In fact, two advisors have 75% of their business in mutual funds. Outside that, one advisor has 65% of his book in bonds, one has 64% of his sales in variable annuities, while another has just over 50% of his sales in fixed annuities.

Most advisors have well-rounded product mixes. Some 92% sell mutual funds, and 90% sell variable annuities. Managed accounts are a close third: 84% of advisors sell them. Of the remaining categories, 80% of reps sell equities, 78% sell fixed annuities, 70% sell bonds/fixed income and 58% sell life insurance.

In terms of diversity, only five women made it into the BIC Top 50. Things are even worse on the ethnic front; only two reps out of the 50 positions are not caucasion.