Ever wonder what a Relationship Manager does in the bank? Or you have lost track of what you were doing all these time?
The first step towards being a Relationship Manager or Wealth Manager is to have customers. No customers, no business. No business, no advisory.
In the banks, despite having an enormous database of potential customers, these customers do not actively seek for wealth management and investment services. Customers go to banks for basic banking services such as money transfer, deposits or loans, credit card matters.
If you are thinking that “ Hello Mr Banker, can you recommend me an investment proposal of $1,000,000?” It rarely happens.
You will spend a large part of your initial time on the job acquiring customers to be “qualified as potentially interested in wealth management solutions”
Read More: What does a Relationship Manager Do?