Pros
Having a licensed banker such as Series 7 or SIE is beneficial for both financial institutions and clients for reasons. The knowledge of product and services expands allowing for bankers to be able to sell securities, bonds, options, stocks. This creates a bigger pool to retain customer and allows to enhanced customer experience by aiding the growth of customers finances. Bankers will have to go through serious and rigorous training. This allows for those selected bankers to go more in debt with the interworking of the banks. Lastly, it increases the revenue for banks by creating these new streams of selling. Customer and fund retention increases. Attractive to higher-net-worth clients looking for investment opportunities.
Cons
Bankers will have to undergo new standards, the bar will be raised. Training will be necessary that will take from the revenue of bank but should not be discouraging since it will train bankers to be placed at a competitive advantage.