During the quarantine, the number of face-to-face meetings with clients significantly decreased, - says Victoria. - We switched to remote communication channels, of course, without stopping our work. From an emotional point of view, eye-to-eye communication, of course, is no substitute. True, if a client and his personal banker communicate in Zoom, then there is also the possibility of an “eye to eye” conversation, only through the gadget screen. I am sure that after the complete removal of restrictions, communication with clients will return to its usual course. But online dialogue will also become the new norm.
Marie Claire: How do you feel about the idea of using artificial intelligence to advise private clients? Could a virtual assistant replace a personal manager in the foreseeable future?
Viktoria Denisova: The global experience of money management using artificial intelligence began long before the pandemic and showed mixed results.
If artificial intelligence really knew how to accurately advise and all strategies were profitable, then, believe me, people would already be served by computers.
Unfortunately or fortunately, there is much less artificial intelligence in automated money management now than many people think. But as for the personal manager and the convenience of interaction, here the possibilities of "numbers" are great.
In general, private clients now - who are they?
There are more young people: either the heirs of the capitals formed in the 90s, or new IT millionaires who made money on the creation of projects in the field of digital technologies. By the way, when interacting with banks, they do not expect live communication, they value speed and remote services.
And if we talk about financial awareness, have clients started to think more about long-term personal investment strategies?
It would be wise to build a 30-40 year old pension portfolio, but this is rare.
Mostly people think about it around 60 years old.
By the way, what financial product is best suited for forming a funded pension?
Pension savings primarily imply conservatism and reliability. For example, you can use endowment life insurance, structured products with capital protection, mutual funds, reliable bond blocks with regular coupon payments and, in small quantities, shares of the largest companies (blue chips) that are part of the group of "dividend aristocrats" (those that consistently pay dividends for the last 25 years).
How to develop a healthy attitude towards money in children?
The question is probably not banking, but psychological, and is best described by the term “consumer culture”, which is passed on to children from parents. Therefore, by helping parents to properly work with capital, banks indirectly contribute to the development of financial culture in their children.
Photo: archives of press services
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