Despite the challenges of selling in the summer months, bank reps’ commission-only productivity slipped only 3% in July, from $15,253 to $14,738, according the Bank Insurance and Securities Association’s latest Monthly Productivity Report.

Reps earning fee plus commission actually grew their production, up almost 14% in July to $28,868 from $25,361 in June, but Scott Stathis, Kehrer-LIMRA’s managing director and chief operating officer, said it could have been better. “July’s fee and commissions revenue was disappointing since it is a month when quarterly asset management fees are collected,” he explained. May, October and January are the other months when fees. “The bump in normal times for a fee collection month would be about 30%, so the 14% is half of what it should be.”

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