As a Private Banker, you’ll eventually face the following question: Should I stay with the bank until retirement, or should I plan b for something else? The answer may come sooner than you think. 🤔
By hitting 45, your career is likely in a good place. Your client relationships are strong, and your book of business is growing. However, in a few years, that growth may slow down. Why? Banks often start moving senior bankers out of the spotlight, giving you new, flashy corporate titles while shifting focus to younger Relationship Managers. This could mean your position may be threatened while it appears secure. Your successor could soon become the favourite of your clients.
This is where Plan B comes in. It’s not about leaving right away but keeping your options open. Moving to an independent wealth manager gives you control. You can continue to manage your clients in the way you know best. And most importantly, you maintain the flexibility to adapt as the banking world changes. 🔄
Waiting until retirement and hoping for the best could be risky. It might be too late to realise you need a Plan B. Banks are known for fast-changing strategies, and you don’t want to be caught off guard. The risk is real, and acting before it’s too late is crucial.
So, when is the right time to consider Plan B? Sooner than you think. Don’t wait until you’re sidelined with a fancy title. Take control of your career, and think about your next step now. Proactivity is key in shaping your future. 💼
🔜 What’s your Plan B?
Don’t get me wrong, banks offer incredible opportunities for growth and development. Proactive planning ensures you can shape your future on your terms. Many banks are fair and supportive employers, helping employees achieve long-term success, but the future can still hold uncertainties.
Source: LinkedIn
