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.
Members and customers who purchase investment and insurance products where they bank have on average $348,000 of investable assets, which is 84% more than financial assets held by other bank customers and members. However, only two out of every 10 of the affluent have purchased these products from their bank or credit union, Prudential Financial said.
“The Value of an Investment and Insurance Customer to a Bank,” a study by Kenneth and Christine Kehrer and Peter Bielan, culled responses from 4,374 households and 1,500 affluent households.
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