The next challenge of the Swiss Wealth Management industry is true client centricity: focus on service rather than transactions, clients advising rather than products distribution, the life time value of a client relationship rather than costs alone, and a fair win-win price. With this it could achieve renewed long-term profitable development.
When the daily lives of our clients is to run a business or a position, ours is to cope with the exceptional. What our clients consider an exceptional project as they are confronted with such issue maybe once or twice in all their career, is actually our routine: critical issues, change projects, sensitive transitions; whatever sector and size; in different cultures.
This exceptional is our routine
You may work on cost and risk, you have to, but you should make sure the people who lead these projects work ultimately for clients’ satisfaction and not just regulators’. As regulator expect nothing else from banks than working for best client interest.
Initially published on Bilan.ch on 21 june 2016. How excelling at managing clients differentiates you? More than Innovation and Operational Excellence? Build a wall between you and competition.
Coup d’œil on international Wealth Management news
If clients’ best interests guide decisions in Private Banking, we will get Compliance for free. Originally published in French in Bilan.ch.
Posted in Bilan.ch on 12 February 2016, French speaking Swiss magazine.
In previous post, we looked at how Private Banking emerged in Switzerland in 19th century and how it evolved before and after banking secrecy.
What is the situation today and how to ride the new waves ?
I identify two very different waves: Client centricity and Product centricity.
Posted in Bilan.ch on 22 January 2016, French speaking Swiss magazine.
To understand Private Banking DNA, as discussed in previous post, I start by looking at how Private Banking emerged in Switzerland in 19th century and how it evolved before and after banking secrecy.
Posted in Bilan.ch on 22 December 2015, French speaking Swiss magazine. Where I suggest to give clients and staff a higher visibility in Management Committee, subordinate risks, costs and rules to business development objective and rediscover Private Banking DNA to recombine and reinvent future.
A Private Banking View episode 3 : More than anything else, trust and client relationship is the single one competitive advantage in private banking, but how can you measure trust?