5 secrets your bank’s customer relationship managers won’t tell you
LET’S SAY, YOU ARE AN earner with a reasonable saving habit. You want to invest and gain better returns than what you get from fixed deposits. You have little idea how to do this, and your work leaves you with even less time to learn.
One day, you receive a polite phone call from your bank’s client or customer relationship manager (CRM). The bank has noticed you have cash to spare and they’d like to help you make investments. A friendly young person smoothly talks you through some options and presents you with a list of suggestions. Simply sign a few forms and your investment needs will be taken care of, quickly and painlessly, they suggest.
This fills a genuine need for hassle-free financial advice to those who are keen to invest but are either overwhelmed by the paperwork and financial rigmarole, or apprehensive about fine-print minutiae and hidden costs. However, a CRM’s advice could lend itself to what is known as a principal–agent conflict: The objectives of the principal (you) are not perfectly aligned to that of the agent (the bank, often represented by the CRM).
Don’t get me wrong. Customer relationship managers often give good advice. But that’s incidental to their interests. Investments are a long-term process where you may have to take periods of under performance in your stride. So, even if you suspect a principal–agent conflict, once you’ve committed, you are in for the long haul.
この記事は Reader's Digest India の November 2018 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は Reader's Digest India の November 2018 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
From the King's Table to Street Food: A Food History of Delhi
Pushpesh Pant, one of India’s pre-eminent food writers, is back with a comprehensive food history of the capital.
Who Wants Coffee?
It’s bitter—but beloved around the world
Prevent The Pain Of Shingles
You don't have to suffer, as long as you take two important steps
The Best And Worst Diets For Your Heart
Dozens of diets are touted as ‘best’, but it’s easy to lose track of the fact that healthy eating needs to be about overall wellness, not just weight loss.
ME & MY SHELF
Journalist Sopan Joshi has worked in a science and environment framework for nearly three decades. His book Mangifera indica: A Biography of the Mango (Aleph Book Company) synthesizes the sensory appeal of India's favourite fruit with its elaborate cultural roots and natural history. He writes in English and Hindi.
SWITCHED
In 1962, nurses at a small Canadian hospital sent home two women with the wrong babies. Then, 50 years later, their children discovered the shocking mistake.
ECHOES OF THE PAST
A VISIT TO THE ANCIENT BARABAR CAVES IN BIHAR REVEALS A SURPRISING CONNECTION TO A LITERARY CLASSIC
Fathers of the Bride
A young woman finds a unique way to honour the many men who helped her survive her childhood
Fiction's Foresight
British-Bangladeshi author Manzu Islam's works reveal startling parallels to recent political upheavals in Bangladesh, begging the question: Besides helping us make sense of our world, can stories also offer a glimpse into the future?
It Happens ONLY IN INDIA
The Divine Defence Picture this: A tractor in Rajasthan‘s Banswara district,a group of loan agents closing in to seize it and the defaulting farmer and his family standing by.