Bank BrokersBench Broker
Who we are
From our own personal experiences in top executive positions, we know how hard it is to find your way through the labyrinth of bank structures. Helps your customers cut cost by making sure they get the right product and service at the right price. Currently we are 40 experienced and professional staff with many years of bank and other finance background, all of whom are dedicated to serving customers on a NO FEE, NO COURE-base.
We are headquartered in Oslo, where our analyst teams are based to provide our total market value proposition services.
Christians and faithful
Brokers who enter the bank sector do not all find this bizarre new paradise uplifting. Just ask any bank agent about the benefits of working in a bank and you'll get a good overview of pedestrian flows, the "trapped audience" passing your desktop every afternoons, and the recommendations coming from your mates.
"Phil Wannenmacher, a representative who has worked at a Liberty Bank Springfield, Mo. facility since leaving Merrill Lynch in May 2000, says a new brokers entering the banking system has ready-made recommendations. These recommendations from bankers make it simpler to make a copy of a bank account in a bank than in a banker' s shop, he says.
Wannenmacher, who uses Raymond James Financial Services as his broker/trader, says that a bank agent has to grow them, but the payout is rewarding. Nevada's bank in Las Vegas. "When working within a bank, the greatest temptation is that those who go to a bank want to be able to stay there as little as possible," says Dube.
Pedestrian transport as a whole is made up of bank clients, who usually do not distinguish between a cashier and a finance manager. If you are a Wirehouse brokers who are not used to these disruptions and diversions, your entry into the banking industry is like your entry into a curious new universe and a curious new civilization. "Kathleen Cole, a Country Club Bank brokers in Overland Park, Kan, admitted I wasn't ready for the kind of unprecedented sense of independence I had.
After four years with Edward Jones, Cole came to the bank. Your broker/trader is Country Club Financial Services, a Bank affiliate. A few succesful brokers find the banking industry invigorating. Schannenmacher says that the bank is not as much focussed on output figures as Merrill Lynch and there is not as much push on products.
In spite of the relaxing atmosphere, Wannenmacher still sees itself as a full-service brokers. Indeed, several bank brokers are quickly pointing out that they have come a long way in their products. "Bank brokers have in the past concentrated on firm annuities, but that has changed," says Sally Blume, VP of Securities and CFO with a LaSalle Bank Chicago office.
Prior to joining the subsidiary in 1993, Blume was an Institutional Sales Person at LaSalle. Hers leapt at the likelihood of joining the retailing community, despite the fact that the intermediary she was replacing was the third representative in a year and a half to vacate the location. Today, Blume has more than 1,100 customers in her books, from the taxi cabbie who sells $500 each trimester for his IRA to the chief executive who has just been selling his company for $15 million, she says.
It also provides comprehensive budgeting - a rare feature for bank brokers (less than 10% of the 35,000 cfps in the United States now work in banking, she says). They market their shop very much like a wire house manufacturer, but without, she says, much of the bureaucracy. Your bank knows its need for liberty.
Flower says she receives many seven-digit recruiting bids from wireless companies, but she has refused all because she enjoys the bank world. As many other bank brokers she enjoys the intensive customer loyality and enjoys being a big one in a small one. Indeed, Cole says that the true secret to being a bank agent is to be the only agent in that store and to work with a store that hires a bank employee - someone who opens new bank account books and marks out perspectives for you.
"When you find a bank where front line staff have been educated to ask some qualified question, it would be like having a licenced intern in another company," she says. Brokers who enter the bank sector do not all find this bizarre new paradise uplifting. In 1997, Stephen Klinicki worked as a brokers at American Express Financial Advisors in Houston, managed portfolio and made real property schemes for wealthy customers when he determined he wanted more from a 9-to-5 career.
Klinicki entered into a contract with Griffin Financial Companies, a Savings of America wholly-owned affiliate, and became the bank's senior financial advisor in four Houston offices. Indeed, after only four month at Savings of America, several gnawing ethics issues pushed him out of the real estate world.
What most annoyed Klinicki was that his "captured audience" was easy prey from older bankers. "They' re told they have an IMO from the bank who calls them, and they' ll come in and they' ll just about signature everything they get," he says.
His bank provided him with a client roster of CD's that became due. Though Klinicki insisted that everything was completely legitimate, all disclosure and liability exclusions were clarified and consumers were all conscious of the relation between him and the bank, the practices still leave a nasty tarnish in his throat.
"I' m just up and down - and that could have been a very profitable business," he says. "They' re in the bank, so I have to explain exactly what I'm doing," says Cole. Among the most drastic changes a bank brokers will notice within a bank is the need to connect with every member of staff in the bank to create recommendations and return them if necessary.
Bank brokers must be able to encourage, engage and rewards their bankers. "Don't you see that cashiers and credit analysts aren't usually as skilled with recommendations as we are," says John Dube, a stockbroker at the Las Vegas based Bank of Nevada. Of course, your bank could give you a shortlist of mature CD holders, but if you want to expand your operations beyond this basis, you need to promote yourself internally and externally.
The majority of your employees will make a small fraction ofthe cash you make, say several bank brokers. Jealous collegues aren't exactly fast on mediating deals. - M. H. What is the difference between a bank representative and a Merrill Lynch banker?