Essay About Relationship Manager
Why relationship managers are injurious to your wealth
“Bankers become ‘bhayankar’ when they fail to deliver what they have promised and try to hard-sell products on which they earn more money to the gullible customer.” - Ravi Subramanian, banker and author of bestselling books such as ‘If God Was a Banker' and 'Devil in Pinstripes'
The path to manging your finances and investing begins with opening a bank account. Soon your banker or relationship manager offers you a host of financial services and products. You get offers for their products such as credit cards, loans, recurring deposits and fixed deposits. But they just don’t stop there.
If not already, you are then labelled as a “privileged”, “preferred” or “priority” customer with a designated “wealth manager” or “relationship manager”. Before you realise it, you are on route to wealth destruction.
Access to all your personal and financial information
As your wealth increases (represented by your bank balance or salary credits), banks act as a commission-based broker and begin to sell you third-party products such as insurance, mutual funds, broking accounts. Sooner or later they will get you in to their wealth management services division where they will continue to steal and destroy your wealth.
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