The Proper Role
Private banks need to focus much more on advising clients on their investments rather than selling products to restore the industry’s reputation, a Swiss banker said yesterday.
Before the crisis, ‘banks were using private bankers to sell products they make – that’s very bad for the industry’, said Jean-Pierre Cuoni, founder and chairman of Swiss bank EFG International.
The proper role of private banks
This is the same for financial advisers. I think the first thing that comes to mind when your hear “I’m a financial adviser” is “I do not want to buy anything”.
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