Conflict of interest…

Some amusing incidents…

A friend who heads wealth in a big branded organisation was sitting in his office…and I was one of the persons in the room when this happened. We were having coffee when his immediate assisstant came asking him to come along for a meet. My friend said all the right words..You must learn to make big calls, this bank encourages people to grow…and actually pushed him off alone.

I wondered why. I must have wondered aloud! He immediately said “I know too much about the product, market and the clients needs..if I go my body language will spoil the sale..but he may be able to bring the Rs. 10 crore cheque. Not bad I thought!

The second friend was talking to me about how one product – a pretty convulted mutual fund operating from Dubai with a choice of 350 fund schemes etc. I violently protested saying that putting away that kind of money over the next 3 years was not exactly my way of managing my money. Then I asked him whether there was any conflict of interest. He said only if you can prove that I have YOUR interest at heart, is there a conflict against my bank’s interest….Oh la la la I said.

But this one takes the cake!

Having spent a lot of time in a wealth advisory job. Collected contacts, established credibility, pushed products….now¬† has quit and started own wealth advisory firm. The reason for creating own outfit has been given as ‘conflict of interest in the previous job’ – having spent 5 years there….!!

So, God bless!

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