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(1). What they used to just call “account opening”. It’s still just “account opening”.
“So, I reached out to our client onboarding team today to see when we should expect the account to be open. They asked us for a few missing things, which I was hoping you could get from the client. Let’s see: birth certificate … mother’s maiden name … and … umm … urine sample. That should do it. Thanks a bunch!”
(1). When you sit down with a stockbroker to see if you can glom onto his book of business (or … ahem! … “look for potential synergies“).
“So, I went through a little hand-to-hand combat with Ken and I think we were able to identify a couple of accounts where we could be helpful. He wants us to do it at no charge, of course, which may be a bit of a challenge.”
(1). Ongoing client relationship management. The term is generally used to describe the absolute smallest amount of work you think you can do to avoid the client firing you.
“Now that the client’s accounts are all in and invested, it should really just be down to basic care and feeding at this point. As I always say – Get ’em in, get ’em invested, then see you in January!”
