With more people using online banking and ATMs, the branches are getting less foot traffic and that could be bad news for bank advisors.
This plight of the lonely bank branch was the basis of an article we had in a recent issue. Its just one illustration of the different agendas under your roof: the bank wants automation; the advisors want face-to-face meetings with prospects.
To be sure, some banks are bucking that trend. And now you can add Carolina Premier Bank in North Carolina as the latest to try to re-energize its branches. Our sister publication American Banker detailed the banks strategy to make its new branch in Washington D.C. stand out in a crowded market. And Umpqua Bank has been on a similar kick to create an atmosphere where people actually want to spend time.
Here at BIC, wed like to hear from the advisors. What do you think of these two strategies and of the bank branch in general? Is it becoming obsolete? Is bank management on the same page as you? And what can you do to help keep your book of business strong? Comment below.
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