Biggest Challenges Faced by a Portfolio Manager at a Private Bank
James, a Portfolio Manager at a Private Bank, identifies "differentiation" as the biggest challenge, explaining the need to offer a "unique value proposition" to clients while simultaneously building trust in a geographically distant institution. This necessitates effectively branding themselves as a "highly competent investment professional" to overcome the lack of local brand recognition.
Differentiation in Financial Services, Building Client Relationships, Branding and Self-Marketing, Overcoming Geographic Challenges, Competence and Credibility
Advizer Information
Name
Job Title
Company
Undergrad
Grad Programs
Majors
Industries
Job Functions
Traits
James A Vogl
Portfolio Manager
Private Bank
Iowa State University 2006
MBA, Ucla Anderson school management, full-time program 2013; masters of education at Millikin University, 2008
History, Art History
Finance (Banking, Fintech, Investing)
Finance
Video Highlights
1. Differentiation from competitors is a major challenge in attracting and retaining clients.
2. Building trust and credibility as a West Coast representative of an East Coast-based bank is crucial.
3. Effective self-branding and showcasing one's investment expertise are vital for success in this role.
Transcript
What is your biggest challenge in your current role?
Personally, or for the business, or is that just how the question is worded? The biggest challenge, let me think.
I'm going to say the biggest challenge is differentiation. Meaning, how do you provide a unique value proposition to clients that they aren't hearing from somebody else?
I think that does two things. One, it's to give them faith in the institution that you work for. I work for a bank that's based on the East Coast, but I'm on the West Coast, so we don't have the brain trust that a lot of banks do.
I think that means, number two, displaying myself as a highly competent investment professional is super important. That puts a little more of the onus on me to be able to effectively brand myself. I think it's a combination of those two things.
Advizer Personal Links
N-A