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Bremer Advisors, Bankers Unite to Win Over the Mass-Affluent

The St. Paul, Minn.-based regional bank launched the business development initiative less than two months ago in a bid to attract mass-affluent customers, a market segment that is estimated to have more than $7.5 trillion in income-producing assets, said Stephen Kruchten, president of Bremer Investment Services.

As banks struggle with rising regulatory costs and thinner profit margins, they’re increasingly boosting efforts to generate more business from existing clients and diversify their revenue streams, much like Bremer is attempting to do. Indeed, banks’ so-called “wealth penetration ratio,” the measure of how well banks have penetrated the investment services opportunity, is notoriously low. Almost half of banks (44%) have penetration ratios ranging from 6% to 8%, meaning that only 6% to 8% of bank customers have an investment product with the bank, according to Wayne Cutler, a managing director with consulting firm Novantas.

Read the full article at Bank Investment Consultant…


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