Wrong-HeadedWrong-Headed
For some time, there has been a debate at trust companies and private banks over which is the best marketing and service strategy to capture new assets from existing clients: through the specialist approach or the relationship manager. Other questions related to this controversy include: Does one of these models work better in a down market? And, Does one or the other help the institution to hold
Russ Alan Prince, Prince & Associates, Shelton, Conn.
For some time, there has been a debate at trust companies and private banks over which is the best marketing and service strategy to capture new assets from existing clients: through the specialist approach or the relationship manager. Other questions related to this controversy include: “Does one of these models work better in a down market?” And, “Does one or the other help the institution to hold on to assets?”
Two Ways to Go
Trust companies and private banks generally use two types of client relationship models. In the most prevalent — what we call the “Relay Team Strategy” — the institutions' officers are responsible for finding wealthy people, and selling them on their firms' asset...
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