Switching banks seems straightforward, doesnβt it? New username, familiar password, and perhaps deciphering client agreements with a fresh logo. VoilΓ , youβre set! ποΈβ‘οΈπ¦
However, dive into the realm of independent wealth managers, and suddenly, youβre navigating in 3D! π
Itβs not just about a bank any more; itβs 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. π¨π₯οΈ
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? π©οΈ 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, youβll ponder: βLife before multi-dimensionality? Canβt recall!β ππ
Relationship Managers, are you ready to embrace this thrilling ride? Dive deep, explore, and letβs share experiences!
Source: LinkedIn
