A former Bank Insurance and Securities Association official has partnered on a startup that aims to help banks and credit unions compete more aggressively with wirehouses and independent advisory firms.
The former head of BISAs research arm, Scott Stathis, and Bryan Kucholtz, an ex-wealth management executive of Comerica Bank, have teamed to launch a firm that seeks to help financial institutions increase sales of investment and insurance products and attract young talent to the bank channel.
The new firm,Stathis Kucholtz Partners,will provide consulting services to banks and credit unions and organize executive summits. It also plans a marketing and technology platform to lure new college grads into the investment services programs at bank and credit unions.
"We do not want to build just a consulting practice," Stathis says. "We want to build a business that essentially has three legs of a stool: consulting, executive summits and a technology-based product aimed at being a solution to the industry's current talent challenges."
The firm is planning a discussion series targeting banks and credit unions that don't yet offer insurance and investment services. It is also planning a retirement plan services conference, a high-end executive retreat, a talent acquisition and development summit, and customized gatherings for select companies.
The firm is currently working on three consulting projects and already has two clients on monthly retainers, Stathis says.
Stathis was previously managing director of Bank Insurance and Securities Research Associates, the research arm of the Bank Insurance and Securities Association, a position he held for seven years. Kucholtz spent the past 10 years as the national sales director of wealth management for Comerica Bank.
"When you consider our combined experience, our connections and our access to resources, I'm sure we can contribute significantly to helping our channel move the ball forward, be more productive and compete more competitively with other channels in the overall industry," Kucholtz says.