A bad economy has hit the bottom line of most bank wealth management programs, according to the Michael White IPI Bank Wealth Management Report.
In the first half of 2012, bank and thrift holding companies generated $59.4 billion in wealth management income, a 6.6% slide from the year before, according to the recently released report. Their median investment program income was $794,000, down 3.6% from $824,000 in 2011.
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