Though less impacted than some areas of financial services, the crisis has clearly left its mark on private banking.  In particular, aggressive asset gathering, relationship manager hiring and product pushing are giving way to a much greater focus on retaining, expanding and deepening client relationships, and on advisory excellence and enhanced professionalism.

On the client side, even before the crisis, trust was waning, with many increasingly skeptical of their wealth managers and frustrated with much of the relationship basics.  During the crisis, many clients found their relationship managers’ communication lacking.  And since the crisis, client relationships have become more fluid and fragmented across private banking service providers.  Yet, in these uncertain times and with risk awareness remaining elevated, many clients have never needed trustworthy, high-quality advice more than they do now.

Attend this intensive and highly practical 3-day training course and learn how to:

• Segment clients, structure the organisation effectively, and align the cost to serve
• Grow net assets profitably through cost-effective client acquisition and retention
• Increase margins through deeper client penetration

PLUS: Develop your practical skills with multiple real-life case studies and lots of exercises on how to enhance your client relationship effectively and generate additional revenue for your firm

WHO SHOULD ATTEND?

This course has been specifically designed for the benefit of:

• Client relationship managers
• Private banking business development managers
• Client relationship team leaders/desk heads
• Private banking front-office heads
• Private banking business unit heads
• Family-office professionals
• Private banking product specialists
• Financial planners/consultants
• Stock brokers
• Asset managers

METHODOLOGY
This course focuses on ‘raising your game’ in relationship management.  Through interactive classroom discussion and exercises – illustrated with real examples and case studies throughout – participants will gain valuable insights, tailored tips and a practical toolkit designed for immediate high-impact deployment.

Day 1

Client Segmentation and Relationship Management Structures

Registration commences at 8:30 on day one
Programme runs from 9:00 - 5:00 daily

Segmentation Approaches

• Why segment?
• Segmentation criteria, at the bank and relationship-manager levels.
• Segmentation trends.

Case studies: Examples of more focused approaches by some private banks.

Segment Sizes, Needs and Economics

• Client segments and associated needs.
• Segment sizes, growth rates and margins – and underlying drivers.
• Examples of hot segments – including entrepreneurs, women, younger generation.

Exercise: Client needs/opportunity assessment and attractiveness evaluation.

Frontline Organisation, and Aligning Cost to Serve

• Team-based relationship management structures and organisation.
• Incentivising and evaluating relationship managers.
• Measuring cost to serve.

Exercise: Getting relationship manager performance evaluation right.

Common Issues in Relationship Management

• Small clients.
• Imbalanced client books.
• Skews in productivity across relationship managers.

Day 2

Client Acquisition and Retention

Client Prospecting, Referrals and Inflow Generation

• Key acquisition channels.
• Managing internal referrals.
• Client onboarding.
• Measuring – and increasing – share of wallet.

Advisory Excellence

• Structured advisory processes.
• Support tools and analytics.
• Ensuring consistent delivery.

Exercise: Client risk profiling.

Client and Asset Retention

• Why do clients leave?
• Early-warning systems, monitoring and review.
• Win-back, loyalty and other strategies.

Relationship Manager and Client Transition Management

• Why do relationship managers leave?
• Relationship manager succession planning.
• Client succession planning.

Case study: EFG International.

Day 3

Client Development

Enhancing the Product Mix

• Product/mandate margins and characteristics.
• Where is the unrealised potential and why?
• Client action plans and check lists.

Exercise: Identifying and capturing opportunities to increase margins among existing clients.

Pricing Discipline and Optimisation

• Revenue leakage and discounting.
• Price list optimisation.
• Institutionalising pricing excellence.

Sales, Negotiating and Closing Skills

• Client meeting preparation.
• Sales techniques.
• Follow through.

Exercise: Handling client objections.

Time and Team Management

• Time discipline and team leverage.
• Relationship management coaching skills.
• Working with specialists.

Course Summary

 

• David Maude

  David Maude is a leading expert on wealth management.  A former consultant at McKinsey & Company in London and Milan. Clients include: Credit Suisse, Pictet, Deutsche Bank, BNP Paribas, Barclays, Lloyds Banking Group, and Standard Chartered.
  
  David’s highly acclaimed new book – Global Private Banking and Wealth Management – is published by Wiley, and has been translated into Chinese, Korean and Russian.
  
  David has also worked in global strategy and corporate development at Barclays, and began his career as a senior economist at the Bank of England and HM Treasury.  He holds an M.Phil. in Finance from Cambridge University.
  
  

Private Banking: Increasing Client Acquisition, Retention & Profitability

Interested in holding this course in-house? Please fill out your details and a member of our team will be in touch with more information.

London School of Private Banking

10-14 Dec 2012 (London, UK)

A tailor-made financial training course developed specifically for Private Bankers by internationally renowned experts with unparalleled knowledge of the market, the industry and the players. The topics covered on the course include asset allocation, estate planning, investment products and business development