Bank wealth management businesses are slowly crawling back to the revenue levels they enjoyed prior to the financial crisis. So far this year, they have racked up $45.2 billion in revenue, just $1.7 billion shy of the $46.9 billion they generated in 2007, according to Wayne Cutler, managing director of Novantas, a management consulting firm.
In his presentation at the Raymond James Financial Institutions Division Symposium in Orlando this week, Cutler pointed to other indicators of bank investment programs growing health. Wealth penetration ratios which measure how many bank customers have at least one investment product with the bankare edging up. In 2013, the majority of bank programs (44%) had wealth penetration ratios of 6% to 8%. Historically theyve been in the range of 3% to 5%.
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