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Video: Wayne Cutler of Novantas urges banks to work with individuals across their entire nest egg.

THE FINANCIAL COLUMN —
The Shadow Retirement Market
Banks are missing out on a large portion of the retirement fund pie, which is hidden in non-traditional products.

The Shadow Retirement Market Bank Investment Consultant, February 1, 2010 Wayne Cutler, managing director at Novantas explains, “Banking’s expansion into the retirement business proved problematic in the Great Recession. Despite recent market gains, most households are still hurting, while advisors struggle to retain customers and rebuild income.” | Pursuing A Tinier Target US Banker, February 1, 2010 “Given the blind spots, banks have a “myopic” view of the business loan and deposit potential in their markets, says Les Dinkin, managing director at Novantas. | Customers Spring For Custom Checking US Banker, January 22, 2010 Hank Israel, a partner at Novantas, said banks will need to bring more to the table to get consumers to spend money on standard DDA products. “People don’t want to pay for existing services,” Israel said. | Obamanomics is a Chilling Experiment CNBC, January 22, 2010 “Dave Kaytes, managing director of Novantas, explains, “President Barack Obama’s pledge to impose business line restrictions on banks appeared to catch the market by surprise yesterday, judging from the 200 point tumble in the Dow. Whether or not one supports these measures in concept, the announcements themselves were ill-advised.” | Stored Value/Prepaid Debit Cards: Predictions 2010 The Prepaid Press, January 21, 2010 “Hank Israel, director at Novantas, explains “We do not see 2010 being a big year for open ended debit cards. While some industry analysts predict recent overdraft regulation will make open loop debit cards more competitive, the reality is, it will do the exact opposite.” | Will free checking disappear? Bankrate, January 21, 2010 “Hank Israel, director at Novantas, a New York-based consulting firm to the financial services industry, says changes to overdraft rules could cost the industry billions in fees.” | Are The Doomsayers Right About A Commercial Real Estate Crisis? CNBC, January 20, 2010 Dave Kaytes, managing director of Novantas, explains, “The fear of a commercial real estate crisis is an outgrowth of the recession caused by the crash in the residential market. While the similarities are compelling, there are some important differences between the two.” | Lenders, Agencies Tweak Collection Strategies In Recession Payments Source, January 7, 2010 Jim Bramlett, a managing director at New York-based consulting firm Novantas LLC, describes the industry-wide move toward larger and more generous settlement offers as “a blunt instrument” that reflects “the degree of distress in the industry.“ | Consumer Fees: The Hits Keep Coming Financial Planning, December 23, 2009 “At some banks, as much as 40% to 50% of those fees are in jeopardy,” said Rick Spitler, a managing director at Novantas. “What are you going to do, close a bunch of branches? That’s scary — but they have to take huge amounts of costs out.” | Banking on a Busy Highway North Jersey / The Record, November 30, 2009 “In this tough economy many banks are consolidating in areas where a concentration of people live, work and shop,” said Les Dinkin, managing director of Novantas LLC, a New York City-based management consulting firm..” |

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