Switching banks seems straightforward, doesnโt it? New username, familiar password, and perhaps deciphering client agreements with a fresh logo. Voilร , youโre set! ๐๏ธโก๏ธ๐ฆ
However, dive into the realm of independent wealth managers, and suddenly, youโre navigating in 3D! ๐
Itโs not just about a bank any more; itโs a cosmos of them. Multiple systems, varied account opening processes, and a burst of logos make the scene. The diversity? Think of the myriad colours in a kaleidoscope. ๐จ๐ฅ๏ธ
But this 3D journey has its perks. It reveals the unique strengths of individual custodian banks. Catering to clients with specific needs like LTV or those dreaming of their jet? ๐ฉ๏ธ Opt for a bank with a sturdy balance sheet. This multi-dimensionality means you can tailor client bank choices yet present a consolidated asset view.
It might initially feel like a twisty tour of a parallel universe. But soon enough, youโll ponder: โLife before multi-dimensionality? Canโt recall!โ ๐๐
Relationship Managers, are you ready to embrace this thrilling ride? Dive deep, explore, and letโs share experiences!
Source: LinkedIn