Financial advisors at U.S. banks raked in an average of $27,809 in commission and fees in December, up modestly from an average of $27,418 in November, thanks mainly to widening spreads between fixed annuity and certificate of deposit rates.
When combined with their comparatively strong production in October, advisors generated the most revenue, including recurring sales, in the fourth quarter in more than 10 quarters, according to the Bank Insurance and Securities Association's latest Monthly Productivity Report.
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