Is senior management giving the wealth management business short shrift at your bank or credit union? Present them with this simple fact: clients that purchased an investment from their financial institution will keep their deposit and credit products longer.
In a new study released this week, Kehrer Bielan Research & Consulting confirmed earlier findings that establishing an investment relationship with an existing banking client dramatically increases client loyalty. According to the research, almost half of the U.S. households that have purchased an investment at their primary bank or credit union say they would not switch to another financial institution, while only about one in four households overall say they would not jump ship.
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