Tuesday, April 27, 2010

“Why Settle for ‘Trust Lite’?”

Running a full-service trust department in a small-to-medium-size bank? You've got a potent marketing theme: "Why Settle for 'Trust Lite'?"

Trust Lite – a.k.a. Trust 1-800 – is increasingly what your far-flung competitors are offering. The big boys are requiring their trust people to handle more accounts, notes this post on the Trust Advisor blog. "And they're routing more of their basic service requests away from trust officers . . . .

"Some of the larger banks now [says recruiter Maggie Cunningham], if there's under $3 million in the account, it goes straight to the call center …."

Even as electrons and pixels make it ever easier to devise substitutes for personal service, guess what? The perceived value of genuine personal service rises. If your organization provides it, flaunt it!

[A word from our sponsor]
Need to raise awareness of your full-service trust department a notch or two? There's a brochure for that.

H/T to the Wills, Trusts & Estates Prof for calling attention to the Trust Advisor post.

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