February 26, 2013
Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.
It all started with a simple request that, as it turned out, was not so simple. The resulting encounter with a 29-year old account manager at a leading bank provided important lessons for advisors around:
- Communicating your focus on customer needs
- Checking for satisfaction
- Letting clients know you’re open for business
- Following up
- The right incentives for your team
Last chance: This August, are you up for the challenge of a lifetime?
Two years ago, seven members of the financial industry reached the top of Mount Kilimanjaro, in this short video they describe the experience as “the memory of a lifetime.”
In August, another group of financial industry participants will be taking on this challenge. It’s not too late to sign up, for more information email email@example.com.
A simple request
Given a growing amount of business in Europe, earlier this year I decided to open a euro-denominated bank account to make deposits and write checks. Even though I’ve banked at this branch for many years, I was told that I had to sit down with an account manager to do this … and was introduced to a young woman who appeared to be in her late 20s or early 30s – let’s call her Mary Smith.
“Mr. Richards, we have several different plans for foreign currency accounts,” Mary began. “To ensure that I open the right one for you, how many deposits and checks are you likely to make in the average month and what kind of balance do you expect to maintain in the account.”
The paperwork wasn’t onerous and we were through in about five minutes. And that’s where it got interesting.
What else can I help you with?
After I’d finished signing all the forms, Mary said:
“Mr. Richards, is there anything else can I help you with, perhaps a line of credit or we could check to see if you can reduce your bank fees by switching to a different type of account?”
And then she did what everyone should do after asking that kind of question, she sat back and waited for me to respond … after a couple of seconds I had no choice but to fill the vacuum.
“Thanks for the suggestion, Mary,” I said, “and I may take you up on your offer to look at my bank account at some point down the road, but I have an appointment in 10 minutes I have to head off to.”
Would you like to send this article to a friend?Remember, if you have a question or comment, send it to .