You talk to any HNI and he will tell you ‘OMG relationship manager made me do this’…and then they start bashing the poor kid.

The relationship manager in the bank is the foot soldier who meets the customer and tries to get revenue for the bank or brokerage house…

What is his role (as expected by the client – or what the RM thinks the client expects from him!)

1. Be an expert on the equity market – how, what when of the market.

2. Be a smart guy and be a lackey for the customer.

3. Have the ability and resources to sort out all problems of the customer – preferably in a jiffy.

4. Run errands, sort out problems, anticipate and solve problems…la la ala…la..

In reality the RM :

1. has no training, or very little training by the time he starts talking to the customer.

2. He is under tremendous target pressure on day onwards

3. He has to achieve a lot of sales targets of a product that the organisation wants to sell – damn what the client wants (that is incidental)

will continue…

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  1. I met a similar smart kid in HDFC bank who was trying to sell their new scheme called SAP. It is somewhat similar to a SIP where you put in one lakh per year and it remains frozen for eight years. They claimed to have figured out a workaround to give investors the benefit of tax free returns even after DTC come into effect. I had to patiently hear the sales pitch for about half an hour before I gave up.
    I agree most of these kids do not know what they are trying to sell. Gives a bad impression about the bank though.

  2. Have the ability and resources to sort out all problems of the customer – preferably in a jiffy.

    This will happen only if you have gone with his suggestions/plans.

  3. Dear Rajiv Sir,

    Although the DTC doesn’t impact immediately and its effect will be best known when implemented, the attitude of the sales person here should be advisory rather than forcibly handing over a product. SAP is a SAVING ANTI PLAN, so nobody saves.

    Its always a dilemma to choose between advisors and sales people…..and would continue unless INDIA enters a ADVISORY FEE MODE.


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