Fee revenue in the bank channel has been increasing over the years, and now stands at 23% of total revenue industrywide. In theory, banks could boast about the increase in this metric, as it stood at just 12% five years earlier, according to the annual Kehrer Bielan TPM Report.
That’s an impressive increase in most situations, but it may not be enough to deal with the situation at hand. The fiduciary rule is set to go into effect in a few days, which does not bode well for transactional business to say the least. First the caveats, and to be sure, there are two big ones. The most recent numbers in the Kehrer Bielan report (which we relied on heavily for this InDepth series) are for 2016, and there has been a flurry of activity this year in preparation for the rule. Plus, there’s the BIC exemption, which could indeed pave the way for transactional business.
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