Banking industry spends too much time on low-value activitiesBanks, armed with substantial assets, customers and loyalty, are counting on wealth management for future growth in a low interest rate environment. But according to Gavin Spitzner, senior vice president of business development for Wealth Management Solutions, they need to greatly improve operating performance in their wealth management businesses to realize that potential. "Banks are spending too much time on lower-value activities and need to focus on increasing profitable growth and the client experience,” says Spitzner.
Spitzner is confident, however, in the future success of banks' wealth management businesses. "Combining the right capabilities and support with the skill of their investment and sales professionals gives banks the opportunity to grow their business because of existing client relationships and the totality of services they offer," he notes.
Interested in more information or want to talk to Gavin? Contact Darrell Oliver.
Wealth Management Solutions is a division of Prudential Investments, LLC, Newark, NJ a Prudential Financial company.