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A Professional Relationship Manager at DBS Raffles Place

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My wife and me went to 2 banks, 1 brokerage and 1 insurance firm to sell off our unit trusts and index fund on Tuesday afternoon.

We went to OCBC which was quick and professional and the whole episode took less than 10 minutes including waiting time. That was how fast it was. There was no question asked and no sales pitch to buy something else or invest in another product.

The brokerage firm didn’t know how to liquidate the funds, which was funny considering we bought it from them. So we ended up waiting for about 15 minutes while the staff went about looking for answers. In the end, he called the insurance broker and directed us there to sell the funds. So we went there and it took us again, about 10 minutes plus to sell off everything.

In between the two experiences, we went to the Raffles Place DBS branch and waited for while a quite to meet the DBS bank relationship manager. About 20 minutes in fact just for one customer to finish his business with the bank.

And we found out just why it took a while to do business there.

The relationship manager there is a Ms Valerie Wee who patiently explained how much the funds were selling now, how many units there were and when the money from the funds could expect to be banked into my wife’s account. Along the way, she heard us conversing in Mandarin so she switched language to explain to us in Mandarin.

In the end, as she was patient and friendly throughout the experience, we actually blurted out that we were liquidating our investments because we are looking at buying a new home.

However, as we did not place the downpayment yet, we did not need the loan yet.

And my wife and me went through quite a telling experience trying to obtain an approval in principle from a few different banks last Saturday. From the downright plain rude experience in both Standard Chartered bank and OCBC to a pleasant one at Maybank and UOB. The UOB mortgage officer bothered to call back to contact us on Monday although she was not around that Saturday afternoon.

Valerie told us that the DBS approval in principle last for one week like UOB and explained to us the different loans available from the bank as the property we were looking at is being constructed and not yet completed. She also calculated the ball park figure that we could look at based on our joint income and age.

Valerie attended to our queries with patience even though the sum total of our visit to her yielded nothing for her in commissions as we were selling the funds. The pressure of getting commissions and sales targets can make these visits to relationship managers quite a pain.

She was so professional and friendly throughout that my wife stated that we should do up our mortgage with her if we really bought the property. Ehm, even without looking at interest rates?

But then, that is how being friendly and professional can win you more clients and bouquets.

So if we ever needed financial advice and the next mortgage, we know who to go for help.

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1 comments:
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Anonymous said...
June 9, 2013 at 9:32 AM  

No doubt, customer service experience is very important, but buying a property is a big decision in your life and interests rate really matter. I believe that 'interests rate' is more important than 'customer service' .



P.S 'my wife and I (not me)'.

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