Concierge Services
Canj and Company, LLC, believes that “Clients” need to feel special. With regards to Private Banking, meeting this need takes on a lot more importance when the clients in question happen to be Ultra-High-Net-Worth Individuals (UHNWI) and High-Net-Worth individuals (HNWI).
A Concierge Service is one of the ways in which private banks provide a differentiated service to their clients, extending the relationship to become a trusted partner for client needs that fall outside of the traditional banking relationship. This level of specialized service connects them to experts that a retail client would not ordinarily have access to. Travel, event planning, and philanthropic activities are the most common services provided. This delivers a highly personalized and exclusive service to these clients, enhancing the overall quality of the relationship between them and the bank.
Customer Relationship Management (CRM) is an incredibly integral part of the Concierge Services. A CRM solution specifically designed for private banking allows Relationship Managers to not only capture the personal passions of their clients but also prompt the RM to engage with the client when relevant. For example, Canj and Company’s Client is planning a 30th Wedding Anniversary within in a few months. The RM has already captured the full household in the Client hierarchy, as well as the profile and interests of the Client and family. If one of the Client’s interests is tennis and the US Open happens to be coming up, bringing the Client’s attention to exclusive VIP packages as a gift for the Client’s spouse, is a great way to engage on non-financial topics. It also opens up an opportunity to talk about the Client’s portfolio while providing a “hyper-personalized” experience.
Concierge Services enhance CRM. They are not only designed to save what clients value most, the “Client’s time” but also provides them with a luxury service. Connecting those concierge interactions with the Client can enrich the client profile while providing the potential for identifying opportunities to sell additional Products and Services. Frequent travel, for instance, may lead to a discussion about acquisitions of Financial institutions, Trust company acquisitions, Real Estate investments overseas, Foreign Currency management or Yacht financing. Additional services include Philanthropic activities – Charity events and organizing Wealth Management training for the Client’s heirs.
