Of note last week was the announcement by Bank Investment Consultant that financial advisors last year sold a whole lot more mutual funds, ETF’s and other equity-linked products while continuing to increase annuity sales.
In addition, the trend toward more fee-based income and away from commissions continued. More advisors were making the high end of their grid than in 2009 when BIC’s survey indicated advisors in distress due to market trends and fear of investors to enter the stock market.
Bottom line, payouts and total income of advisors have been rising, recruiter calls are way up and one can only point to strong and upbeat market conditions. Clients are clearly re-entering the market and advisors are feeling and acting more optimistic.