Program managers have never been more important in the bank channel. Between the advent of ultra-cheap robos and a landscape-changing law like the fiduciary rule, banks are facing more challenges than ever on the adviser front. And if that's not enough, there's the pesky talent shortage and major disruptions brought on by technology.
Even the fundamental idea of bank brokerage is a difficult balance to strike. One side of that equation (banking) is driven by statistics, while the other is supposed to be defined by trust and relationships. Program managers can find themselves bridging that gap between banks and their advisers.
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