J.P. Morgan Chase
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0
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J.P. Morgan Chase
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Current Employee My role was Private Client Banker, a personal banker who is supposed to primarily with "Private Clients" ($150,000+ in assets) and to acquire and retain a portfolio of said clients for cross-selling and upselling opportunities. Unfortunately, my experience was that the Private Client brand was severely diluted and no longer held the value it was once acclaimed for. Rather than expedient service, easy transactions, and generous relationship benefits, the program quickly became a money-grab to increase deposits with the bank. Private Client Bankers end up helping every client, regardless of their banking relationship, reducing the amount of attention their portfolio of clients would receive, as well as taking away time for prospecting and dialing. Rather than focusing on performance metrics (deposits, credit cards, investments, and loans), management's focus was on convenience services (online banking gadgets, filling out financial questionnaire for customer on CRM, and outbound calls with or without meetings). While the incentive structure is nice, The retail/SMB component hinders your ability to perform your job so much that the commission potential becomes irrelevant. It is almost as if management's intention is to prevent the sales team from making sales. There is definitely room for improvement in all areas.
2.0
Jun 23, 2023
2 Useful
