Main reason I left banking 5 years ago was this whole practice.
When I started in 2005 the mindset really was about figuring out what works best for your clients, and I really did enjoy that. Whether it was credit cards, mutual funds, GIC's, whatever, I was given the task of finding the best fit for each person.
Then right after the big collapse in 2008 there was an obvious and not at all subtle mindset change where now its about selling. Everyone that sells this credit card with this insurance gets 25 bank points. It became less and less about your clients and more about selling certain products in order to achieve your goal and get your extra $1,000 bonus at the end of the year.
I think the big banks need to reinvent themselves just like Walmart has. Put the focus back on your customers and you'll still make insane profits while actually building a relationship.
None of this is surprising to me. Even the illegal stuff of increasing credit limits without consent. That's all you hear when in banking is sales and goals and targets. When a client comes in you're already thinking of how to make sure they get that new VISA or put them in a certain mutual fund. I found it so uncomfortable and slimy I quit and never looked back.
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