Repeat Customers Likely, Others Cool to Bank Sales
American Banker (10/03/00) Vol. 3, No. 5 p.8; Reich-Hale, David

John Hancock's second annual John Hancock Bank Channel Consumer User Study finds that most individuals who have gone through bank channels to purchase investment or insurance products would try it again. The report found that of the 647 households surveyed, 200 of them had gone through bank channels to buy an investment product, and one-third of them indicated that they intended to buy more investment or insurance products within the next year. Meanwhile, two-thirds of that subgroup said they would consider buying investment or insurance products from a bank. Alec Kotopoulos, general director of market research for the John Hancock Financial Institutions Group in Boston, said the results suggest a measure of contentment on the part of the people who went through banks to buy these products. On the other hand, the survey also showed that people who have not used banks to serve their investment needs are less likely to do so. According to the poll, only 4 percent of those who had not used banks to provide investment or insurance products would consider doing so.


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