Bank Rep Access to Bank Clients

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Apr 21, 2007 12:01 pm

Would like to know from current (or past) bank reps, what kind of access you have to the bank clients.

Currently, my only access is through referrals from the bank staff.  The deposit base client list is off limits except for seminars, and even then the bank personnel gathers the names and sends the invites - I never see the names.

They have made it clear they want to tap into the deposit base for the investment side, but they are making it very difficult.  Don't know if it was a problem with prior 2 reps, or they are afraid someone will take the list and run.

Apr 21, 2007 1:07 pm

I know a number of advisors who work in a bank channel.  Most have been there for quite some time and have the same thing to say.  Keep in mind that they are more like wirehouse reps in that their business consists primarily of fee-based/managed money, stocks/bonds, etc. 

They all say that any clients that come directly from the bank have to be considered a bonus.  Granted, it's very different on the wealth management side where all the clients come directly from the bank. They see very few quality referrals from their bank partners and generally tend to prospect like any other wirehouse/independant rep (cold calling, referrals, mailers, seminars, etc). It was quite different many years ago when they (each) had something like 15 branches to cover.  Today, they may sit in a branch but have very little to do with the customer that comes in for banking needs.  Though some gems do appear over time.

In case you're wondering why they don't leave and go indy, it's because (most of them) are utilizing a wirehouse type platform of investments and the payout is quite ample.  More importantly, most bank reps that leave for a wirehouse/indy have a very, very difficult time taking customers with them.  Many of these customers have significant ties to the bank and are loyal.  However, the reps (like those I know) that bring in their own customers will take most of them should they leave.  They have simply chosen to stay put for the time being, though that could change.

Also keep in mind that investment make up a very small % of a bank's revenue.  The banking people are concentrating (more) on loans, deposits, lines of credit, etc.  If a bank can make 6% on a dollar (pay 2% interest and lend it out at 8%) why does it want to emphasize investments that pay (maybe) 1%? One reason is that investments tie the client even more so to the bank.  Still, it's only a small piece of the overall pie.

As I have previously stated on (many) other threads: focus on bringing in outside assets.  Develop your own customers that know of the bank through you.  You'll build a strong business, a (hopefully) loyal client base, and not have to rely on others' for your success. 

Apr 21, 2007 7:17 pm

New Rookie,

What promises did the Sales/Branch Manager make when they hired you as a Bank FC?

Keep a copy of all E-Mails showing the referrals, appointments made for you, appoinments kept etc.

Sounds like you were lied to when they recruited you. I think you will fail. Keep all records and see an employment lawyer.



Apr 21, 2007 10:58 pm


You sound like an idiot.


Having access to the bank clients (aka being able to look at thier deposits, etc) is nice, but not the deciding factor in your success.  I rarely convert a CD into something else, and when I do it was via a referral, not me calling them.  I’d focus on getting introductions to people from CSR’s, branch managers, commercial lenders, etc.  Prove yourself to these people, and you’ll have all the business you can handle.

Note:  For the sake of full disclosure, I do have access to all the bankside information. 

Apr 22, 2007 7:06 pm

My goal in posing this question, is to find how other bank reps are getting to the bank clients that are not yet investment clients.

I was not lied to, nor will I fail, I just am looking for ideas.  My Mgr. says that a good majority of their clients never come to the bank - i.e. they do their banking via the net.

Some of the reps I talked to have an "Investment Corner" section in the bank's quarterly newletter.  Others put a table in the lobby and raffle an investment book.  Others have "meet and greet" days in the bank lobby where the bank clientele can come in and ask investment questions and get to know the rep.

That's what I am looking for.  It IS managment's goal to tap into this client base.  Sure makes alot more sense than calling strangers. 

Looking for ideas from Bank Reps that have worked to get the bank clients in the door - other than referrals from staff - that is coming, but this is in addition.

Apr 22, 2007 8:44 pm

I think a lot of what you seek (prospecting ideas) depend on your actual position in the bank... are you just a rep in a bank (salaried vs. commission) or a dual employee (with access to bank client data) and are you situated in a community, regional, or national bank environment?

Much of what was said in the previous post(s) ring true. There are specific methods of prospecting for your situation. What works in a community setting is not necessarily going to work on a national platform.

I can tell you without fail, the one common underlying factor critical to your success in a bank setting is overwhelming support from management, starting at the branch level on up.

Good luck and may the management gods be with you.   

Apr 22, 2007 9:49 pm

I would also work client referrals hard.  My experience is that these are far better than what employees will give you.  Ask clients if they’d rather you spend your time managing their money or out beating the bushes for new business.  If they react as expected, tell them that their referrals help keep you out of the bushes.  Give them a few business cards to share with friends and family with portfolios large enough to require professional assistance.

Apr 22, 2007 10:11 pm

I am a dual employee looking for creative, successful ways to tap into the bank's client base.

Specifically what I am looking for is what other bank reps have done to reach the bank clients OTHER than the trying to garner the referrals from bank staff.  As I mentioned, alot of our client base does not even come into the bank, so they are not going to be referred.

So, bank reps, how are you reaching the bank customers?  What has been successful for you?

Apr 22, 2007 10:45 pm

What you’re asking is what king of cutsy marketing gimicky thing can you do to get clients.  You just have it all wrong.

It’s ALL about referrals.  From your book, from the bankers, from other professionals.  Other than possibly some seminars (which you’d create a invitaion list based on names REFERRED to you from the bankers), you need to be cultivating clients relationships and bank relationships.

You want to raffle off a Warren Buffet book…fine.  You’ll get a bunch of folks with a few hundred bucks in their checking account looking to win a free book.

Man, you have to get your mind right.

Apr 23, 2007 11:21 am

I don't think you calling people with big deposits would do much good anyway, it's basically just a cold call from a qualified list.  You need someone they already know in the bank to make that call for you and sell what a great guy you are so the customer comes in for an introductory appointment with you.

I don't see the list directly (although I probably could if I asked), but I have other people who will call this list for me when they need or want to give referrals (it helps that the bank pays for referrals, both to the individual employee and to the branch management).

We don't have a newsletter, but my former bank did.  It looked like a great way to get free to you advertising to the client base, I don't know why any bank that had the newsletter wouldn't give you a few inches every month. 

I haven't had very good success with free giveaways, the people you want to reach can buy whatever they want.  If you do this, I would think it would be much more successful if you were offering them something they couldn't just pick up at the mall (football autographed by local college team maybe, or round of golf at private club with you as host).  It may work if it was something wanted by retirees but not as desireable by younger folks, not sure what that would be, but many of the retirees are always looking to score something for free, no matter how much $$ they have.

Apr 23, 2007 8:33 pm


Position yourself as an expert. Do you specialize? I do in retirement income planning. Everyone in my bank knows I help people close to retirement or retired plan for their future. I get in front of people in our newsletter, through seminars, through referrals and when you meet with prospects show your knowledge is special soon they will tell their friends then you’ll be me. Busy.

Apr 23, 2007 8:41 pm


You sound like an idiot.


You are one.


Sorry, I misunderstood your situation. Good Luck.

Apr 24, 2007 11:43 am


I am a dual employee looking for creative, successful ways to tap into the bank's client base.

Specifically what I am looking for is what other bank reps have done to reach the bank clients OTHER than the trying to garner the referrals from bank staff.  As I mentioned, alot of our client base does not even come into the bank, so they are not going to be referred.

So, bank reps, how are you reaching the bank customers?  What has been successful for you? [/quote]

Are you in a community or national bank? If you are in a smaller bank consider meeting with the board of directors on a routine basis. They have a vested interest in your success in building relationships. The "sticky factor" is a great selling point (builds a more loyal client) as is the fact that for every dollar in deposit at the institution, there are 4 to 8 dollars of investable assets outside that the bank can make fees on. Put these facts and figures on paper and present it to them and you will be surprised how much support you can garner when they figure out how much the bottom line will increase.

Also, if you have a trust department on premises, meet with those guys to see if you can swap leads with them. They should be incented like you to build their business as well. Think of yourself more as a Business Development Officer bringing in business to all areas of the bank and the leads will flow to you because you will be making yourself more visible. It's all about meeting as many people as possible.

Hope this helps.