Credit unions offering investment services increase, as banks leave the market.
While bank-owned BDs generate more revenue, credit union BDs report higher net income.
In an attempt to woo top talent, institutions are restructuring compensation packages for in-house financial advisers.
Larger firms tend to pay advisers on an annual grid and at slightly lower rate.
The number of affluent who turn to their credit union or bank for their investment and insurance needs is low, according to a Prudential Financial study.