tag:blogger.com,1999:blog-235433516644980443.post6884260114628518699..comments2024-03-27T05:08:10.195-04:00Comments on Jeff For Banks: Four Ideas on Bank Retail Investment SalesJeff Marsicohttp://www.blogger.com/profile/12153599647481141591noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-235433516644980443.post-50045060850054756152014-10-09T12:24:42.121-04:002014-10-09T12:24:42.121-04:00Your secret is safe with me.Your secret is safe with me.Jeff Marsicohttps://www.blogger.com/profile/12153599647481141591noreply@blogger.comtag:blogger.com,1999:blog-235433516644980443.post-67371558647383069882014-09-30T11:35:00.472-04:002014-09-30T11:35:00.472-04:00Anonymous again (Just a regulator undercover...shh...Anonymous again (Just a regulator undercover...shhhhhh!)<br /><br />From Sept. 30, 2014 Banc Investment Daily:<br /><br />At the same time, banks are identifying product lines with<br />potential for growth, and one surprising survey result showed that<br />32% of the respondents expect asset and wealth management to<br />be the biggest driver of revenue growth over the next 3 to 5Ys.<br />This comes in ahead of C&I lending (28%), capital markets<br />activity, cross-selling and all other sectors of lending. There is<br />also a generational shift underway with the retirement of the baby<br />boomers, but the boomers have always tended toward do-ityourself<br />solutions rather than looking to full- service providers like<br />banks. If this were expected to continue, would it make sense<br />that there is significant opportunity in wealth management?<br />Clearly wealth management offerings will need to reflect the<br />same ideal of seamless interaction between digital channels and<br />the availability of qualified advice. The only way that wealth<br />management could be a primary driver of growth is through<br />adaptation of services to meet the needs of the do-it-yourself<br />generation. Those services will also need to transform to offer<br />greater assistance as customers age and need more help.<br />Community banks will be dependent upon outside providers for<br />this integration, especially on the technology side and therefore<br />banks should take extra care in choosing providers that will be<br />able to adapt to changing customer needs going forward. At the<br />same time, staff should be comfortable with a broad assortment<br />of solutions and have the real ability to solve problems. By<br />focusing on these areas, you stand to propel your bank toward<br />the level of service and expertise that customers expect and that<br />should have your bank well-placed for the future.<br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-235433516644980443.post-72801668893874092832014-09-25T14:49:12.475-04:002014-09-25T14:49:12.475-04:00Definitely agree!
If the CEO was the former CFO, ...Definitely agree!<br /><br />If the CEO was the former CFO, they are comfortable managing the balance sheet. If a former CLO, they focus on commercial lending.<br /><br />To a hammer, everything is a nail.<br /><br />Thanks for the comment!<br /><br />~ JeffJeff Marsicohttps://www.blogger.com/profile/12153599647481141591noreply@blogger.comtag:blogger.com,1999:blog-235433516644980443.post-47735744510556370082014-09-23T11:18:57.018-04:002014-09-23T11:18:57.018-04:00Why are banks/credit unions lacking retail investm...Why are banks/credit unions lacking retail investment sales programs?<br /><br />1. Short-term focus. The programs did not generate they profits forecasted. Why?<br /><br />2. Management did not find the right people for its retail investment program nor did it support it with the right resources.<br /><br />3. The real reason. Lack of a solid plan to really have a retail investment sale program. Management was not 100% committed to the program.<br /><br />Banks/credit unions have so much excess liquidity TODAY. They also have the best information on their customers (hmmm...so a auto-withdrawal comes out at the same time every month paid to the same investment firm...or insurance company...or whomever). Retail investment programs should be a slam dunk.Anonymousnoreply@blogger.com