Think all the big banks are the same?

Not so when it comes to advisors, finds Investment Executive in its report card on banks.

After analyzing the data, the publication finds “a wide gap in the size of the books that branch-based financial advisors are running, their productivity levels and the compensation they’re receiving.”

For instance, the average advisor at Scotiabank has a book of $37.3 million, while the average advisor at CIBC has a book of almost $139 million.

Find out how you stack up to the average bank advisor by reading the full article.

Also read:

Canaccord says average Canadian advisor team book nearly $100M  

Advisors to regulators: We’re not the bad guys

Advisor or adviser? It’s not that simple

Big Six banks among Canada’s cleanest companies

Originally published on Advisor.ca
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There is no doubt that Canadian Banks are one of the worst on earth and that’s why a former Bank of Canada referred it as a “Wild West”. As there is no fair competition in Canada, no one can measure its success properly.

After working for Global financial institutions including in Canada, Canadian banks employ antique systems and their reporting has no sense. Canadian Banks paid securities regulators hefty fines for their systems failures. Canadian regulators must enforce strict reporting guidelines to comply and giant fund companies like Fidelity should offer global platform facilities to investors and Advisors, so that success can be measured.

Wednesday, Jul 5, 2017 at 5:00 pm Reply