Private Banks & Wealth Managers
Focused on delivering solutions to fulfil the most demanding of requirements.
Greater transparency within the financial services industry is likely to result in Private Banks and Wealth Managers having to focus their efforts where their core competencies lie.
Where Private Banks ultimately feel unable to assist in providing a client with a credit facility, particularly due to policy constraints, we can assist by working closely with them, in order to source alternative credit solutions that ensure clients receive a value added service and in turn prevent the loss of the overall relationship.
We are also able to work closely with those Private Banks where, for strategic reasons, current credit facilities need to be exited.
High net worth client strategy
The financial services industry is in a more fluid state today than ever before. Recently, there has been a great deal of reshaping activity as financial institutions refocus and restructure, and this is set to continue. This reshaping of the industry is in its early stages and private banks will need to make key strategic choices about where and how they compete across their High Net Worth Client business model.
We have many years experience in consistently delivering growth of High Net Worth Client books within Private Banking and Wealth Management businesses. Whether it is through client acquisition initiatives, service offering, geographic markets, managing and leading change, or achieving excellence in the client experience, we are able to offer expert insight into proven strategies to grow market share in the High Net Worth Client sector.
Relationship management effectiveness
As the private banking and wealth management environment toughens, with greater competition, increasing regulations and more demanding clients, much of the burden is falling on the Client Relationship Manager.
Client Relationship Managers provide the main interface between clients and the institutions, are key to growing profitability of private banking businesses and have a critical role to play as the industry seeks to rebuild trust. They will no longer be judged primarily by their ability to attract new clients and business but also by how well they advise and service their clients and achieve acceptable profitability. So not only will their performance need to improve, they will also have to learn new skills.
Our experience in developing and leading high performance client relationship management teams makes us ideally placed to assist Private Banks and Wealth Managers in understanding what is required from their Client Relationship Managers, identifying the talent within their employee base and developing holistic programs to manage the effectiveness of their Client Relationship Management teams.
We can assist institutions in developing the capability to constantly fine-tune their Client Relationship Manager recruitment methodology, training and integration. We can also analyse and review existing management information systems to diagnose which processes and systems are weakening Client Relationship Managers’ performance.
Private Banks and Wealth Managers will not be able to achieve future success without effective Client Relationship Management. Those that employ and retain people with the required skills and the ability to adapt will have an opportunity to gain a significant competitive advantage.