(1). The lion’s share of a wealth manager’s job. Rich people can be very needy at times.
“Yeah, the meeting went fine. These folks need a lot of hand holding, you know? Hey, as long as they keep paying those fees, right?”
Hand Holding
RANDOM LINGO
Beauty Contest
(1). A preliminary set of sales meetings where the prospect forces all of the different firms to perform their dog-and-pony show one after another, all in the same day.
“Yeah, so we’ve got a meeting with a prospect today at 1. I think it’s just a beauty contest at this point. Pretty sure there are at least three other firms in the running.”
Downstream
(1). Fishing term used to describe unknown issues that may arise as a result of a system change, often occuring in other, related systems. The term is often used by IT as a catch-all excuse for avoiding making any improvement to the current system.