I work in a bank investment program as a rep.



Recently, management made the comment that I am “competition” in their eyes.



This shocked me, since before I was hired, I warned some banks thought this way and specifically asked if they saw the bank rep as someone who would deplete their deposit base, and they said “No, we don’t care what side the money is on - the retail side in the bank, or the investment side, we just want it to stay in the bank”.



I pointed out that 90% of by business is from outside the bank - i.e., accounts I bring in from UBS, ML, etc., and that many times, I have walked people over to the bank side to purchase CDs when appropriate (I’m not allowed to sell brokered CDs). I also recently had a business client transfer his 1mil+ account from Sovereign to our bank.



I’m seeing things in a new light now since this comment was made. The program has not been supported by management - with, time, effort, resources, or finances. The bank also is unwilling to set goals for the investment program, although they have goals for checking accounts, CDs, deposits, etc.



They are also very unwilling to promote - or allow me to promote - the referral program through training or top-down endorsement. I thought part of the reason rep went to bank programs was because of the referral program and deposit base. Maturing CD lists are out of the question, so there is NO access to current bank clients.



It bothers me that when a bank client calls and says they want to cash out their old 401K because of the market and roll it to a CD, they just say OK, and don’t even mention perhaps they should talk with the investment person first. Who can blame them, I guess, they are trying to meet their goal, and suitability is never an issue on the bank side, although it should be.



It seems they just want a rep to come in and magically make the program work by finding people outside the bank, although they “allow” little advertising or seminars (every move is tightly controlled by bank management).



Is this usual behavior for a bank?



I know that they have their “own” goals that they get compensated on, but I see us all as one, and this is just one department in the bank. Their comment makes it seem like they don’t see it that way. Quite a turn from what I was told. I see no way to change this attitude other than showing them where the assets come from that I invest, and keeping a list of what business I bring to the bank side.