Non Treasures relationship manager

[epigram]

Was contacted recently by a "newly assigned relationship manager". Have a low balance with DBS and wonder if they are soft launching a lower tier banking segment. Anyone experienced this?

 

[WoShiPro]

I guess they are doing cold call to hit sales targets. The wealth manager that claim to be my WM assigned to me was from the west branch while I stay in the north-east..

Was invited to do a zoom call and she kept promoting endowment. She didn't really seems to have much finance knowledge as I had to correct her sometimes. LOL

 

[silverbomb]

i'm friend with a DBS RM and he's super against selling Insurance and endowments. he doesn't like to sell the Manulife products at all and often get into disagreement with mgmt on their role as RM, bcos he feels strongly that ppl should directly invest (BTIR) instead of using insurance (with investment components) to 'divest'. they are being forced to be a 'insurance agent' for Manulife (DBS tie up) when they only focus on RM matters in other banks. He was from another local bank. so alot of them is really just forced to 'cold call' or try to sell due to KPI to hit. if they don't call, they kenna from higher up.

I guess they are doing cold call to hit sales targets. The wealth manager that claim to be my WM assigned to me was from the west branch while I stay in the north-east..

Was invited to do a zoom call and she kept promoting endowment. She didn't really seems to have much finance knowledge as I had to correct her sometimes. LOL

 

[silverbomb]

Was contacted recently by a "newly assigned relationship manager". Have a low balance with DBS and wonder if they are soft launching a lower tier banking segment. Anyone experienced this?

yes it is happening. the RM called and asked for zoom. we made appt but i forgot totally the session 3 weeks later then noticed. never heard back since.

 

[Garlic & Butter]

the RM is for "insurance" sales i guess

Got such a thing from UOB 7 years ago. she was pushing endowment plans from Prudential. y account only maintained $500

 

[wav35_]

no such thing as RM "assigned to you" if you are not in Treasures segment and above. for Treasures clients, the name of your RM will appear on your statements and app.

normally they are just sales staff in branches (not even RM) cold calling clients trying to hit their sales targets.

 

[sk0065]

no such thing as RM "assigned to you" if you are not in Treasures segment and above. for Treasures clients, the name of your RM will appear on your statements and app.

normally they are just sales staff in branches (not even RM) cold calling clients trying to hit their sales targets.

ts not treasures thus don’t know ma.

 

[epigram]

thanks for all the replies. it was a super misleading conversation i had then. i definitely did not mishear what i was told because the follow up whatsapp said "I am your dedicated relationship manager from DBS Bank".

and yes, the product type that was being pushed was an endowment product.

 

[soneat]

Was contacted recently by a "newly assigned relationship manager". Have a low balance with DBS and wonder if they are soft launching a lower tier banking segment. Anyone experienced this?

Yes. They have "RM" for lower tiers.
Regardless of lower, mid or higher tiers, their main aim is to "help customer build wealth" (aka sell something to the customers)

 

[Cobra!]

i'm friend with a DBS RM and he's super against selling Insurance and endowments. he doesn't like to sell the Manulife products at all and often get into disagreement with mgmt on their role as RM, bcos he feels strongly that ppl should directly invest (BTIR) instead of using insurance (with investment components) to 'divest'. they are being forced to be a 'insurance agent' for Manulife (DBS tie up) when they only focus on RM matters in other banks. He was from another local bank. so alot of them is really just forced to 'cold call' or try to sell due to KPI to hit. if they don't call, they kenna from higher up.

Bounty for insurance is huge.

 

[LexusIS]

Ah think is called Wealth Planning Manager cause i received an email and call from one of them......... and yes practically only sell Manulife.

Probably should call them insurance specialist/agents instead of RMs. Doesn't seem to sell any other product or know that i already hit the highest tier for multiplier zzzzzz