FRGIS Sponsors Kehrer Group’s Annual Industry Checkup

Kehrer Group Publishes Press Release on 2023 Findings

Financial Resources Group is pleased to sponsor Kehrer Group’s 2023 Annual Industry Checkup. Please view Kehrer Group’s press release below.

Bank-based Investment Services Practices Overcame Challenges To Post Modest Gains Last Year

Kehrer Group’s Annual Industry Checkup Released

May 5, 2023, Chapel Hill, NC– Following a record-breaking year in 2021, investment services revenue growth in financial institutions slowed substantially in 2022, but remained positive despite challenging conditions.

  • Revenue from investment services increased 3.5% in the typical financial institution.
  • Since the beginning of 2021, investment services revenue in financial institutions has increased by more than 20%.

The single greatest challenge to the growth of investment services in financial institutions has been the widespread inability to grow the advisor force. The number of advisors working in financial institutions has remained essentially flat for the past several years, despite growing opportunity to serve the investment services needs of the institution’s customers. But financial institutions appear to have made some progress toward that goal during 2022.

  • Advisor headcount increased 2.8% in financial institutions offering investment services.
  • Nowhere was the turnaround more apparent than in the Bank -owned BDs, where advisor headcount increased for the first time in six years.

The Annual Industry Checkup provides year-over year and long-term trends in the number and nature of banks and credit unions selling investments, advisor headcount, and their productivity, and their implication for the coming year.

Since 2012 Kehrer Group has combined proprietary and industry data to provide an annual review of the health of investment services in banks and credit unions. The data for this year’s report cover 1,419 of the banks and credit unions that provide investment services, which collectively manage 5,126 advisors.  This year’s Checkup is sponsored by Terrapin Technologies and Financial Resources Group.

“Kehrer Group’s research plays an essential role in helping business leaders stay abreast of industry trends, which is why we are proud to sponsor the Annual Industry Checkup,” said Kristefor Lysne, President of Terrapin Technologies. “Every year the Checkup cuts through the noise and isolates the trends that matter, giving leaders the requisite knowledge for nimble decision-making and building effective strategic plans.”

“We are pleased to sponsor the Kehrer Group’s Annual Industry Checkup,” said Steve Lank, President of Financial Resources Group. “The Kehrer Group remains year after year, an industry-leader in the research and consulting field for our bank and credit union investment services programs.  We very much value their thought leadership, wisdom and innovative analytics that help guide our institution-based financial professionals towards success in their programs – by pinpointing areas of opportunity, and turning that into business growth.”

For additional information contact

Tim Kehrer
Research Director
Kehrer Group
o: (919) 903-9043
m: (609) 712-2153

About Kehrer Group

Kehrer Group is the bank and credit union financial advice community’s trusted partner for original thought leadership, insight based in data, and strategies that drive success.

About Financial Resources Group

Based in Fort Mill, SC, Financial Resources Group is LPL Financial’s largest enterprise*, providing customized services to financial advisors and financial institutions to help them grow their programs and practices. Representatives are registered through LPL Financial as their broker-dealer.  For more information on Financial Resources Group, visit  

* Based on assets (brokerage and advisory), total revenue and affiliated professionals as of December 2022.

Securities and advisory services offered through LPL Financial, a Registered Investment Advisor, member FINRA/SIPC. Financial Resources Group Investment Services, member FINRA/SIPC, is a separate entity.

Kehrer Group and Terrapin Technologies are not affiliated with or endorsed by LPL Financial or Financial Resources Group.”

About Terrapin Technologies

Terrapin Technologies provides data and business automation solutions to wealth management firms. Our platform automates and improves business processes across the organization, including compensation, compliance, and reporting. Since 1995, our expertise and technology solutions have helped our customers realize scalable and predictable growth. We help firms see the big picture, increase profits, and reduce risk. 

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Financial Resources Group Marketing Department

How Can We Help?

Why Work With FRG?

Want to see what we can do to help you grow your business? Contact us at our corporate office located in Fort Mill, SC. We look forward to hearing from you!

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