TIPS ON GETTING INTO THE INDUSTRY IN PRIVATE BANKING: AN INSIDE LOOK
David Osio is known as a Jack of all Trades in his line of work. He has done everything from corporate and consolidating banking to commercial banking. He also has had a hand in private banking, something of which he has earned lots of credit for. http://www.slideshare.net/davidosio
Private banking is definitely an industry that takes a lot of planning, especially for those looking to make a career out of it. It’s to these people that David is looking to reach out to today. David has some sound advice on how to get into the industry.
“In most cases, it’s not going to happen right away. It didn’t for me. You definitely have to earn your way with Private banking. You can’t just take a few classes and say you have what it takes. This process that time and patience. Learning from other before you and creating a good customer service connection with those you help. This is all lends to the foundation you are building, getting you to where you ultimately want to be”.
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1)You can move up through the Private Wealth Management aspect. If you can’t make it with the high-net worth money, you have to start from the ground up. This usually involves personal banking. The pay is pretty low to start with, but consider it a foot in the door. As you gain more experience with it, start sending your resume out. Others will begin to take notice and look to hire you on.
Why do you think this is high-revolving door part of the industry? Most leave on their own accord, as soon as something better comes along.
2) You can also do Privilege Banking. This is usually the cross-section between the first one and private banking. What sets this one apart from the first one is the products available. Most of the time you can offer 90% of all products being offer in the private banking world.
This is one route that many choose. This is an option that creates more of a short-term path to the private banking position, as opposed to the long way around.
3) Private banking is the final step on the rung. This is the one that all of you are hoping to get to. As David suggests,“sometimes you have to work your way up”.
Personal banking will give you a foot in the door. The rest all lends to the experience you need to have, in order to get to where you want to be.