Business Development Masterclass For Private Banking and Wealth Management

Participants will be better equipped to:

• Exploit growth and opportunities in the private banking market
• Manage private client profiling and changing characteristics
• Meet private client requirements and expectations
• Appeal to both macro and micro-markets
• Deal with the challenges of investor choice
• Understand the process of asset allocation and portfolio structuring techniques
• Have a working knowledge of structured products and solutions for private banking clients
• Continue delivering high-quality service using Fintech
• Understand how to deal with what most experts predict will be a difficult time for Private Banking generally

Introduction

• The current market place
• What is happening in the different wealth client sectors
• The move towards Fintech
• The challenge of too many clients who fall below minimum wealth levels
• Death – the ultimate competitor and the challenge of succession planning
• The way forward for different sized private banks

Session 1: The Private Banking Industry

• What is Private Banking
• Wealth management now usually part of the package
• A brief history of the industry
• Mainstream Products & Services
• Classification of the main global/regional players
• Organisation & structure of a Private Bank
• Wealth Categories
  • Merely affluent – the danger zone for profitability
  • HNW
  • VHNW
  • UHNW
• Family Offices
• Defining roles: teamwork or superstars
• Cross-selling problems & solutions

Case Study/Practical Example

Session 2: Anti-money Laundering Process & FCC

• What is the private banking and wealth management sector considered “high risk”
• Risk assessment
• The Risk Assessment Formula
• The Risk-Based Approach
• CDD – KYC, IDV & EDD
• PEP accounts
• Offshore Accounts
• Sanctions
• FATCA (Foreign Account Tax Compliance Act) & CRS (Common Reporting Standard)
• Benefits of regulatory profiling requirements
  • Customer Life cycle (student loan, car loan, housing, etc)
  • Investor life cycle – accumulate, consolidate, retirement.
  • Client balance sheet, sources of income, wealth & risk
  • Client paradigms
  • Customer life cycles in relation to the needs process.

Case Study/Practical Example

Session 3: Private Banking services

• Defensive, strategic or specialist private bank
• Difference between accounts, customers & clients
• Private, retail, business or a mix
• Cash management
• Deposits
• Loans and overdrafts
• Premium services including credit cards
• Strategic tiering of bank relationships

Case Study/Practical Example

Session 4: Products & Development for Private Banking

• Core private bank products – the essential or minimum range of products
• Risk profiling – green, orange and red lights
• Traditional v alternative investments & hedge fund services
• ESG and its imminent impact
• Outsourcing part of investment management – do’s & don’ts
• Defending against huge competitors
• Asset Management – discretionary/advisory
• Securities brokerage company
• Retirement planning
• Tax & trust advisory services
• Collective investment schemes
• Art jewellery & other investments

Case Study/Practical Example

Session 5: Critical Management functions

• Information technology & operating platforms
• Human resources & private banking

Session 6: The role of the Private Banking CRM (Client Relationship Manager)

• CRM in general
• The CRM’s perspective
• The client’s perspective
• What makes a good CRM
• Dealing with success & disappointment

Roleplay/case study

Session 7: Marketing Private Banking Successfully

• Client needs & strategy
• Objection handling
• The dos and don’ts of virtual meetings
• Differentiation & Positioning
• Linking features to benefits
• Negotiation versus selling
• Planning the negotiation
• Negotiating successfully & Negotiation styles
• Closing the deal
• Cross-selling opportunities

Roleplay/case study

Session 8: Dealing with Challenging Wealthy Clients

• The “problem” client
• Overcoming Client resistance
• Gaining commitment
• Overcoming difficulties when Shariah intervenes

Role play/case study

Session 9: Essential Self-Management Skills

• Time management
• Planning
• Monitoring delegated activities
• Time out sessions
• Internal records

Role play/case study

Session 10: Key Treasury Products in Private Banking

• Conventional Treasury Products
• Interest rate swaps explained and construction examined.
• Cross-currency swap valuation
• Market participants and their motivations.
• Forward Rate Agreements (FRA)
• Foreign Exchange Derivatives
• Puts & Calls
• Uses of options

Role play/case study

Session 11: Structured Finance in Private Banking - Introduction

• Bringing borrowers and lenders together with “bespoke” structures
• The development of investment vehicles using embedded derivatives
  • Structures using Special Purpose Vehicles (SPV)
  • The roles of the various parties in such structures
  • Enhancements & risks
• Credit Linked Notes and other similar products
  • Mortgage-Backed Securities
  • Collateralised Loan Obligations
  • Collateralised Bond Obligations

Session 12: Asset & Fund Management

• Designating clients effectively as either retail, professional or institutional
• Investors’ Objectives – the need for a comprehensive “fact find”
• Four categories of relationship
• Outsourcing or in-house?
• Establishing ESG preferences.
• Suitability & appropriateness
• Portfolio managements

Case Study/Exercise

Session 13: Marketing, Communications & Managing the Brand

• Creating & developing the brand, image & style of the Private Bank
• Positioning the bank, products and the people
• Communications, PR, sales & marketing literature
• Client marketing – broad brush v narrow
• Marketing via adverts, the web, sponsorship, annual reports

The trainer had a highly successful, long and varied “fast track” career in Lloyds Bank which led him to a very senior management position in the bank’s private banking and wealth management division at an early age. He was then “head hunted” to join a merchant bank at the main board director level to oversee the global private banking and wealth management offering to the group’s major and prestigious clients. He now has over 40 years of experience in the UK banking and financial services sector.

He has been a freelance wealth and private banking management training consultant since retiring and is currently an external Master Training at both HSBC and Bank of China where he has delivered major projects. He is an accomplished global trainer and has delivered extensive programmes in the UK, USA, South America, Europe, Africa, Asia and the Middle East.

After a couple of “boom years” these are both exciting and challenging times for the Private Banking and Wealth Management sector. The industry continues to grow strongly with the emerging markets, creating a steady stream of new high-net-worth individuals. Russia is the exception and has become an issue.

This course offers an opportunity for staff engaged in private banking products and services / private wealth management to equip themselves with the skills needed to formulate innovative strategies, improve their customer relationships and effectively manage their clients' wealth during these challenging times. The focus of this course is on equipping delegates to help their firms to grow and win new business, by retaining and developing existing client relationships.

Who Should Attend

Anyone with an interest in the subject.

Knowledge Requirements

A basic understanding of the private banking wealth industry would be helpful but is not essential.

Session Structure

Available as a Two Day Workshop or Webinar

With Webinar delivered in 4 x 3-hour sections over two days (12 hours of the live webinar in total). These sessions will include short breaks, case studies and Q & A sessions. Delegates will also have access to the eLearning material.