I worked in the investment department of a large bank. This was very convenient for many people who liked to have an investment professional to consult. Even though we were connected with the bank, the products were offered were not FDIC insured.
We always had to remind people of this fact since they were investing in products that did not have a guaranteed rate of return. If they wanted something like this, they could meet with a personal banker and buy a certificate of deposit.
We sold more mutual funds and annuity products to our customers than anything else, but they also had the option of buying stocks and bonds if they wanted to. I think most people like banking where they have a lot of financial services available to them.