Legal

Financial Planning Services - A Boon for Banks

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Executive Summary

While it's undeniable that offering financial planning services to customers can prove a worthy investment for banks, it must essentially follow a careful consideration of the bank's readiness to take on the rigors of the task. Any bank that hopes to profit from this strategic move must first ask itself whether its financial consultation and planning regime is up to the challenge. Most clients make their investment decisions or seek financial advice without providing sufficient information about their goals and requirements. Providing financial advice without insight into the customer motives is akin to medical assistance provided without a sound diagnosis, and inevitably counter-productive.

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