Bank-owned broker dealers are doing a better job selling annuities than banks and credit unions that work with third-party marketing firms, according to a new study from Kehrer Bielan Research & Consulting.
In 2014, the 25 largest bank-owned broker dealers produced almost $22 billion in fixed and variable annuity sales, or 57% of the total sold by all banks and credit unions. Third-party broker dealers, in contrast, accounted for just 38% of the annuities sold, or $14.7 billion.
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