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Truebridge purchases American Brokerage Consultants

Truebridge, a Boston-based financial services marketing firm for banks and credit unions, has purchased American Brokerage Consultants of St Petersburg, Florida, for an undisclosed sum.

Founded in 1987, the acquired entity’s national studies provide statistical data that assists financial institutions to measure their performance relative to their peers.

Truebridge CEO Stewart Rose said, "The data helped us identify the key factors that promote growth, generate fee income, and increase share of wallet and profitability."

"Through our study of retail brokerage, we gained a solid understanding of the challenges and opportunities to growing many lines of business including investments, insurance, trust, and financial institution owned insurance agencies."

"One key to success is improving integration by harnessing the power of the retail bank to support all business lines," Rose added.

Many financial institutions are doing only a fraction of the business, they could be doing, according to statistical comparisons carried out by American Brokerage.

The company said that financial institutions require communicating on the consumers’ terms, providing optimum information to take better decisions.