PBs Dedicated to Ultra-High-Net-Worth Clients Visit Customers Four Times a Week

Samsung Securities 100 SNI PB Survey Results
Customer Interest Focuses on 'Customer and Family Portfolio Analysis'

Samsung Securities Headquarters Building. Photo by Samsung Securities

Recently, private bankers (PBs) at securities firms have been meeting face-to-face with ultra-high-net-worth individuals and corporate clients about four times a week on average. As the financial market environment and key client segments change, face-to-face consultations are becoming more active. It is also evaluated that clients' demands have evolved from simple stock brokerage in the past to comprehensive asset management.

According to a survey conducted by Samsung Securities on March 26 targeting 100 'SNI (Success & Investment)' PBs, SNI PBs reported conducting an average of four offline client consultations per week. SNI is Samsung Securities' dedicated brand for ultra-high-net-worth clients, introduced in 2010.

The biggest need perceived by SNI PBs among SNI clients was 'portfolio analysis for clients and their families (44%)', followed by 'expert consultations related to real estate, taxation, etc. (27%)' and 'financial and non-financial consulting for client-related corporations (27%)'. In contrast, 'real-time stock and bond market trend updates' accounted for only 2%. This indicates a stronger demand for asset analysis from a portfolio perspective rather than trading based on stock or bond market information.

PBs spend more than half of their working hours on offline meeting-related tasks. Specifically, they allocate 28% of their time to client asset portfolio analysis, 18% to offline client meetings and consultations (including travel time), and 10% to preparing customized materials for clients. This reflects the increasing activation of offline meetings due to recent changes in the financial market environment and key client segments.

When asked about the most necessary competencies for SNI PBs, 'market and product-related study (40%)' received the highest response. This shows that the ability to accurately grasp the rapidly changing financial environment in a timely manner is most important. Following this were 'expert networks (33%)', 'knowledge related to corporate sales such as IB (16%)', and 'knowledge related to real estate and taxation (7%)' as the ranked competencies needed by PBs. The 'stock trading skills' that were considered the most important competency for PBs in the 1990s and 2000s received zero votes. This reflects the shift in sales culture from simple stock brokerage to comprehensive asset management as shown in the survey results.

Yoon Seo-young, Senior PB at Samsung Securities SNI Family Office Center Branch 2, said, "Recently, corporate owners have increasing financial and non-financial needs not only for business succession but also for the corporations they operate. Based on market and product-related information, we continuously study expert group networks, IB-related capabilities, and knowledge related to taxation and real estate to provide optimal solutions to clients."

Meanwhile, Samsung Securities is providing specialized services through the 'SNI Family Office Center' based on the know-how of its 'Family Office' service started in 2020. The Family Office service targets ultra-high-net-worth clients with assets exceeding 100 billion KRW. As of March this year, 80 families are using the service, and total entrusted assets have grown to 20 trillion KRW. In January, a dedicated Family Office branch was opened at the Gangnam Finance Center on Teheran-ro, Gangnam-gu.

This content was produced with the assistance of AI translation services.