Mobility Solutions for the Relationship Managers and Securities Advisors

Broking firms cater to two categories of customers. First is the retail investor who normally does transactions varying from a few thousands to a few lakhs every year. The second category of customers is HNIs who use the portfolio management services of the broking house to maximize on their investments.

Such HNIs normally commit huge investments (to the tune of few crores per year) and are hence offered a dedicated set of relationship manager (RM) and securities advisors (SA) to manage their portfolio. A team of RM and SA normally services anything from 20 to 50 HNIs. The HNIs contact the RM and SA for all their advisory and trade requirements.

Even as the companies want to provide personalized services to the HNIs, they have certain concerns like:

  • The teams should have the ability to travel beyond the branch office, while remaining in contact with customers via a single phone number
  • Team members should not give out cell phone numbers to the HNI customers. This could lead to lost customers if the financial advisor leaves the organization
  • Financial advisor (FA) should be able to arrange a conference call between the customer and the support team to execute the deals even while traveling
  • The calls between the FA and the customer should be logged to monitor FA performance and increase effectiveness
  • Most importantly, the organization should have the ability to do business in locations which are not covered by the branch locations

Solution

The Avaya one-X and IP Softphone can be used by the RM and SA team. Once the HNIs are given the direct inward dialing (DID) number which is configured on the branch PBX, all calls can be routed to the RM’s mobile phone using one-X solutions. If the RM is traveling he can log on using the IP Softphone loaded on his laptop to divert calls to the nearest extension or mobile phone.

Using these mobility solutions the RM can not only receive and make calls from his mobile phone but can also use all the features available on his office extension from his mobile phone. It is like a virtual extension loaded on his mobile phone/laptop with features like conferencing, call transferring to an extension, using office extension to dial long distance calls etc.

  • The HNI clients get used to calling the extension instead of the RM’s mobile number. This increases the probability of customer retention even in absence of the RM
  • All calls can be recorded to monitor FA performance and increase effectiveness