October 19, 2022 – Although bank branches are closing in record numbers, there are still around 70 million open branches in the U.S. Their home offices are actively affecting strategies to transform compensation models, rationalize sales forces, and push digital. Shifting lead generation activity from in-person branch activities to other channels and points of interaction is a top priority for 2022 and 2023.
This report explores how physical branch consolidation has shaped the organizational structure of bank BDs and influenced their acquisition and profitability. It is based on Aite-Novarica Group interviews with 28 bank BD executives and bank executive partners at 24 banks and credit unions ranging in size from US$6 billion to nearly US$2 trillion in bank assets.
This 21-page Impact Report contains 10 figures and two tables. Clients of Aite-Novarica Group’s Wealth Management service can download this report and the corresponding charts.
This report mentions Betterment, Cetera, Infinex, LPL, National Financial, and Raymond James.