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Report Card on Banks & CUs

  • Advisors’ books shrink
  • Firms’ stability puts advisors at ease
  • Advisors look for compensation beyond salary
  • Advisors pleased with banks’ pension plans
  • Consistent branding efforts pay off
  • Firms offer up a mixed bag
  • A greater focus on financial planning
  • Everything’s coming up roses for RBC, TD
  • Two banks’ fortunes diverge
  • Advisors experience smooth sailing as books grow
  • Advisors dissatisfied with compensation practices
  • Banks, credit unions focus on promoting brands
  • Financial planning takes a back seat
  • Tech tools, back office leave much to be desired
  • Advisor dissatisfaction sets in
  • Green chair, “second opinion” win raves
  • Firms deliver when it comes to products (includes chart)
  • Strategies for catering to high net-worth clients
  • Advisors warm up to compensation (includes chart)
  • Co-operation key to support services
  • Advisors want tech upgrades, support (includes chart)
  • Advisors’ satisfaction level goes way up (Includes main chart)
  • How we did it
  • Designations needed to climb career ladder: Includes Chart
  • No winners in back office: Includes Chart
  • Advertising gets nailed
  • Advisors cool on compensation: Includes Chart
  • Big banks score big on products: Includes Chart
  • Account managers a loyal breed
  • Lower-producing advisors powering growth: Includes Chart
  • Advisors say their firms are missing the mark: Includes Main Chart
  • CFP remains designation of choice: Includes chart
  • Women find satisfaction as account managers: Includes chart
  • Satisfaction high among credit union advisors: Includes chart
  • Compensation leaves a lot to be desired: Includes chart
  • Account managers committed to their firms: Includes chart
  • Banking on effective advertising: Includes chart
  • Account managers split on selling insurance
  • Market booming past the average Canadian banker: Includes chart
  • Ethics, freedom, stability top account managers’ lists: Includes main chart
  • Emergence of “elite” account managers: Includes chart
  • Credit unions thrive on loyal customers: Includes chart
  • As goes compensation, so goes the firm: Includes chart
  • Women making their presence felt: Includes chart
  • Ongoing training is mostly online — and scores low: Includes chart
  • The problem is not with leaving — but with starting over: Includes chart
  • Banks on the lookout for new talent: Includes chart
  • Ethics, stability, image are firms most important aspects: Includes main chart
  • Account Manager quotes
  • On the road to one-stop shopping – includes chart
  • Royal Bank woes highlight role of technology – includes chart
  • Not all banks keen to jump into insurance
  • Account manager quotes
  • Bankers gripe about low compensation – includes chart
  • Credit unions provide a “very respectful workplace”
  • How we did it
  • Scotiabank keeps getting it right – includes Main Chart
  • Bankers becoming more like brokers
  • Banks adjust to client business habits
  • Bankers less critical of their work tools — includes chart
  • Banks’ performance all over the map
  • Credit unions’ ratings tumble — includes chart
  • How we did it — includes Main results chart
  • Bankers give institutions higher service marks
  • Scotiabank scores big with employees — includes chart
  • Designations no longer a choice
  • Banks get the message on customer service
  • High tech a low priority at some banks
  • Success often a matter of personality
  • Banks want more of plannng pie
  • Banks face more debt threats
  • Credit unions make impressive debut
  • Overworked and underpaid
  • Royal Bank takes top honours
  • In a negative mood
  • Banker quotes
  • Pay us like brokers, bankers say
  • Moving out of the dark ages
  • It’s all part of the job description
  • Is the glass ceiling breaking?
  • School days far from over
  • Staff burnout a fallout of restructurings
  • All hands on deck
  • Markets brace for new breed of insurers
  • Insurers under the gun to increase share value
  • Demutualization hell
  • Manulife’s long road to public ownership
  • Hammering out workable P&C solutions
  • Fear chills smaller guys
  • Insurer relishes conversion
  • Banks try to live up to CBA privacy model
  • Where is the customer these days?
  • Some translation (still) required
  • How account statements fared
  • Bankers’ pay lags that of brokers, planners
  • Going back to the classroom
  • Sexes equal in praise and criticism
  • Rural branches of most banks managed at arm’s length
  • The pressure to perform
  • Restructuring woes felt by employees
  • Long hours can be dangerous
  • CT ranks No. 1 – for the last time
  • Banks bone up on customer service
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Report Card on Banks & CUs

Account manager quotes

Comments from the bankers

June 24, 2004

IE Staff

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  • How we did it: Advisors’ Report Card 2025
  • The evolution of succession planning

Best aspects of my firm

“The bank still has a good corporate image vs some. People say they deal with us because we’re honest and have their best interests at heart.”
—Scotiabank account manager

“I earn more than just base salary. The bonus structure is better than most firms.”
—CIBC account manager

“Our opinion is valued. Upper managers are receptive to our needs. They listen.”
—Credit union account manager

“We’re smaller, and get a lot of recognition when we do well. We’re not just a number. The company is proactive. They stay on top of things to remain competitive.”
—National Bank advisor

“There are great people leading the bank. Training and benefits are good, and they are flexible with hours. Teamwork is rampant, and I work with wonderful people.”
—Royal Bank account manager

“The strong brand: when people walk in, they are happy, they expect good things and they aren’t defensive.”
—TD Canada Trust account manager

“I would say autonomy in the job. My boss isn’t constantly looking over my shoulder.”
—Bank of Montreal advisor

Worst aspects of firm

“We don’t have sufficient software to provide clients with the information they need — which our competitors do.”
—Scotiabank account manager

“The bureaucracy, the paperwork and changing direction, from the VP to senior management. Our hardware and software systems are dreadful.”
—CIBC account manager

“It’s small. There’s not always someone to give you answers when you need them.”
—Credit union account manager

“They need to improve the technology at the branch level. This is needed in Ontario and in the West. We need more tools to do sales.”
—National Bank advisor

“Micromanagement is killing productivity, and enhanced administration and tracking isn’t helping.”
—Royal Bank account manager

“Our lack of competitiveness: they don’t want to give up market share but they don’t give us the leeway to get it or keep it.”
—TD Canada Trust advisor

“Lack of focus on rural needs. Where I am, it’s a mix of 9-to-5 type people and farmers.
People in the farm industry get left behind a little bit, as do entrepreneurs.”
—Bank of Montreal advisor

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Read next

  • Advisors’ books shrink

  • Firms’ stability puts advisors at ease

  • Advisors look for compensation beyond salary

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