Banking on Trust

Last week, I received an unexpected telephone call. It was from an old acquaintance, a former client whose investment portfolio, I had been assigned to manage, while working with a bank, some years ago. He wanted to clarify the exit clause of a product I had got him invested into, during that time.

To say the least, I was pleasantly surprised that he had sought out my opinion after nearly five years, though there were several others he could have approached. Especially, since I am not associated with the banking industry now.

Let me make it abundantly clear, that I am not claiming to be even remotely close to being an expert on anything, least of all banking. On the contrary, this telephone call was only because of a certain trust level I had established while dealing with the client. Relationship management skills are certainly one of the things I prided myself on.

And this was not the only instance. I have received other calls from former business contacts in the last few years, even though I am not currently associated with the banking industry. Sometimes, it is to wish me on New Year’s Day or some other occasion and sometimes its just a courtesy call.

My job involved discussing portfolio valuations, providing information on investment products and such other mundane, financial stuff that banking jobs are made of. Within the organisation, of course, we underwent endless product training sessions and numerous presentations. However, looking back, I realise that my job actually proved to be a steep learning curve for me in so many other ways.

Once you have gained the trust of the client, you are then looked upon as a reliable friend and sometimes even as a confidante. You encounter people who welcome you into their families, gatherings and community meetings as a trustworthy ally. They share their stories with you, like this pleasant, old, gentleman I remember who had arrived in the UAE years ago when there were no skyscrapers, just the desert sands stretching endlessly everywhere. He recalls how he built up a business. Most of the amenities that we take for granted today, were missing then. I also had the experience of listening to a father narrate, with tears welling up in his eyes, about how his only son had cut off all relations after marrying entirely against his wishes.

Of course, you must be prepared to face the brickbats, as well. I still have a chuckle or two, when I read a letter I have preserved, received from a former client, six or seven years ago, which has only one sarcastic line in it. “The amount of appreciation shown by the investments you suggested is not as good as the quality of the paper you used to send the statement of my account in.”

These and several other experiences flash through the mind, as I think of those hectic days. At that time, of course, we were too stressed, in fact, roaming around like headless chicken, to realise the wealth of memories that were being created through the interactions with so many diverse kinds of people. Their life stories and views added an interesting dimension to the otherwise serious world of net asset valuations and ratios. Through these interactions, the job offered invaluable lessons and opened up a window to peek into the complexities of human relationships and life, in general. The different perspectives about life and the advice and insights that were received were the invaluable perks of the job.

And, the same trust that helped you to deal with your clients on such a positive, personalised level also comes to the rescue, while facing situations where the returns on the clients’ investments have not been up to expectations, due to economic factors.

So, when they say, banking has a lot to do with building trust, I couldn’t agree more.

Fyna Ashwath is a writer based in Dubai.