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MDA Training: Listen, Create, Deliver, Sustain
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3 client service skills that are critical in private banking training

The need for people management and client service skills is essential for employees in the private banking sector as it is a widely competitive and engaging market.

If a business is to succeed in this fierce industry, leaders must invest time and effort into ensuring that those in client-facing roles have perfected their skills in dealing with high-profile individuals who have entrusted them to assist with their financial affairs. Without this, a client is more than likely going to take their business elsewhere.

Fortunately for businesses, private banking training can be structured to ensure that employees are capable of building long term relationships with high-profile clients as well as communicating effectively with potential new clients to aid progression. We’ve highlighted three key skills below that can be utilised as part of experiential learning programmes at private banking training events.

Listening skills in private banking training

It is critical that client-facing employees in banking are able to listen effectively. Relationships and agreements can break down if a client feels that their views are being ignored or overseen. With this in mind, adopting an experiential learning approach to training can ensure that employees possess the necessary skills to ensure that this doesn’t happen.

Experiential learning methods will give employees the opportunity to practice their listening skills in a simulated environment without the risk. As well as practising to listen while learning about the barriers that stop effective listening, employees are able to assess how well they performed and can take steps to improve when approaching a real client in the future.

Communication skills in private banking training

With the banking industry increasingly prone to several market and regulation changes, the need for effective communication skills is deeply important for any employee in banking. To express any changes and build a strong sense of trust from clients, communicating with purpose and clarity is vital.

For a private banking training programme to succeed in developing communication skills that employees can use on a day-to-day basis, it is important to allow individuals to attempt to communicate with effect. Whether it’s effective questioning, communicating any important changes or promoting clarity, the best way for employees to develop their skills is by mirroring a typical environment and giving employees the chance to reflect on their performance, which is what experiential learning allows to happen.

Influencing skills in private banking training

As with communication skills, building a sense of trust with clients is critical to influencing. In private banking, responding to market developments and turning these into opportunities for clients can help to secure long term relationships and partnerships to benefit the business. To achieve this, getting to know the values and interests of clients is key, as this will allow employees to make relevant decisions based on market trends.

With experiential learning, employees are able to develop their knowledge of banking trends and regulations, thus improving their commercial skills while also developing relationship management strategies with clients so they can make active decisions that are in the best interests of their clients, and work in the knowledge that they have the trust of the people they represent.

Although many skills are important for individuals in client-facing roles, it is essential that listening, communication and influencing skills are prioritised in private banking training in order to see real progress and maintain relationships that help the business to succeed. For more information on our approach to client service skills in banking, visit our powerpoint presentation here.

WE UTILISE EXPERIENTIAL LEARNING METHODS AS PART OF OUR PRIVATE BANKING TRAINING PROGRAMMES. FOR MORE INFORMATION ABOUT HOW WE CAN HELP YOUR BUSINESS, CONTACT MDA TODAY.

#Experiential learning #Private banking training

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