Wealth Management and Trust: Another Fabulous Year!

While revenue at most other investment firms shrank in 2008, our Wealth Management and Trust (WMT) team finished the year at xxx% of the 2008 revenue plan and xxx% ahead of 2007 revenue.  Three key factors are responsible for the unit’s phenomenal results:

Highly experienced Investment Consultants
It takes knowledge, empathy and leadership to survive tough bear markets like these.  Our Investment Consultants thrived last year.

• Gary Yabko – top California Investment Consultant in the entire PrimeVest system (1,630 reps)
• Steve Weitzel – 10th in PrimeVest for fee-based sales
• Steve Weitzel and Clement Chichester – top 5% of all PrimeVest reps
• All of our FirstFed Investment Consultants – top 10% of all PrimeVest reps (very impressive!)

Increased referral quality from Retail Banking and Commercial Banking
Colleague referrals are a key driver of our business.  Last year not only did we have a xx% increase in the number of referrals, we had a xxx% increase in revenue from those referrals! 

Fee-Based Trust Revenue
Our trust revenue continues to grow.  Trust revenue is important because it provides a consistent long-term fee revenue stream for the Bank.  Trust Officer Pete Williams has done an excellent job in reaching out to the legal community, seeking our appointment as trustee in client trusts.  Despite a long sales-cycle, the business has started to flow in more consistently. 

In 2009 our challenge continues, but we have no doubt that the combination of WMT’s quality investment professionals and the Banker referral support, we will have yet another great year.

Congratulations to the WMT Team and many thanks to our bankers!

Honored
Investment Consultants


Clement Chichester

Steve Weitzel

Gary Yabko