Lloyds - Personal Relationship Manager

Options
2

Comments

  • redmalc
    redmalc Posts: 1,433 Forumite
    Combo Breaker First Post First Anniversary
    Options
    If it's anything like the HSBC Premier manager,forget It.

    I was a customer of HSBC for Twenty plus years and after visiting the Premier Manager and listening to the well rehearsed chat I advised all of my savings were in the stock market managed by myself I never heard from him again.
    Since then my mortgage was paid off and they have downgraded my account,so I moved on
  • bigadaj
    bigadaj Posts: 11,531 Forumite
    Name Dropper First Post First Anniversary
    Options
    Gers wrote: »
    What kind of charges? What for?

    For providing a relationship manager and other service levels.

    It's got to be paid for somewhere along the line, not that I'm saying banks have a reputation for excessive charging and not notifying their customers, perish the thought.
  • DrSyn
    DrSyn Posts: 889 Forumite
    First Anniversary First Post
    edited 18 October 2016 at 9:43PM
    Options
    Maybe I have become cynical at my time of life, I can only think of two reasons why you are now getting a "Personal Relationship Manager".

    1. You are wealthy or at least the bank thinks you are. Therefore they want to get as much of your wealth for themselves as they can.

    2. "Personal Relationship Manager" is the new term for "Sales Person". They now want to sell you as much as they can, to increase their profits.

    Either way it will not hurt to keep an eye out for charges as "bigadaj" suggests. It has been known in the past, for some banks to switch people from free current accounts, to fee paying accounts without telling the customer about the switch!
  • Gers
    Gers Posts: 12,032 Forumite
    First Post Photogenic Name Dropper First Anniversary
    edited 14 December 2016 at 5:53PM
    Options
    Gers wrote: »
    Just had a letter from Lloyds about providing me with a Personal Relationship Manager - don't think it's my own private counsellor or agony aunt.

    Has anyone else been offered this or even been using it?

    Strangely, I received a call today from Lloyds Bank today asking me if I wanted to respond to the offer of this Personal Relationship Manager. I declined as I am perfectly capable of managing my own affairs and I now only hold a Club account and one normal one, all the others have been closed now as Vantage is gone.

    Does the call seem weird to anyone? I'm wondering about the whole thing...

    PS in edit - the conditions of a PRM are, as on Lloyds website:
    Get a dedicated Relationship Manager and additional services when you save or invest £100,000 or have £100,000 annual income.
    I have no money invested in Lloyds and don't have an annual income of £100,000.
  • GingerFurball_2
    GingerFurball_2 Posts: 990 Forumite
    Debt-free and Proud!
    Options
    Call was probably genuine.

    Those are the terms for a Private Banking Manager, you possibly qualify for their Mass Affluent relationship managers.
    DEBT FREE!

    Debt free by Xmas 2014: £3555.67/£4805.67 (73.99%)
    Debt free by Xmas 2015: £1250/£1250 (100.00%)
  • mollycat
    mollycat Posts: 1,475 Forumite
    Name Dropper First Post First Anniversary Combo Breaker
    Options
    Also got the call today, following last week's letter.

    Politely declined. Can manage finances perfectly well.

    Does seem a bit random; although have had some big winning bets going through the account recently :)
  • Gers
    Gers Posts: 12,032 Forumite
    First Post Photogenic Name Dropper First Anniversary
    Options
    mollycat wrote: »
    Also got the call today, following last week's letter.

    Politely declined. Can manage finances perfectly well.

    Does seem a bit random; although have had some big winning bets going through the account recently :)

    My current account is now only used for Amazon purchases and not much is kept in there. The club account is fully funded and I have a club monthly saver and a normal one.

    Can't see how they have landed on me! I'm happier now that I know someone else had the phone call, thanks.
  • Shakin_Steve
    Shakin_Steve Posts: 2,701 Forumite
    First Anniversary Photogenic First Post Name Dropper
    Options
    This sounds similar to the old 'come and see an advisor in branch so we can tell you if you're making the most of our services'. That was code for 'we want to sell you a medium/long term savings bond'.
    I came into this world with nothing and I've got most of it left.
  • premierfella
    premierfella Posts: 879 Forumite
    First Post First Anniversary Combo Breaker
    Options
    Lloyds were regularly badgering me with attempts by the Personal Relationship Manager to get hold of me (on the odd occasion that I phoned them in response, it was obvious from the response at the other end that it was just attempts to sell me things as they struggled to find a way to make a profit out of a non-borrower, non-overdraft user).

    Yesterday I got letters giving me 60 days notice of account closure - it seems I wasn't so special to them after all!
  • markwilkinson
    markwilkinson Posts: 568 Forumite
    Options
    premierfella wrote: »
    Lloyds were regularly badgering me with attempts by the Personal Relationship Manager to get hold of me (on the odd occasion that I phoned them in response, it was obvious from the response at the other end that it was just attempts to sell me things as they struggled to find a way to make a profit out of a non-borrower, non-overdraft user).

    Yesterday I got letters giving me 60 days notice of account closure - it seems I wasn't so special to them after all!

    This is my experience too. Lloyds got nothing from me for years other than the monthly account fee and I was getting regular phonecalls from my "personal banker" asking me to go into branch for a chat about my finances. Sounded like a very nice lady to be fair, so I agreed. Got a letter confirming the appointment with a request to bring in all details of savings, investments, pensions etc. That set alarm bells ringing and I made an assumption of what was going on so I phoned up and cancelled.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.2K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.3K Work, Benefits & Business
  • 608.1K Mortgages, Homes & Bills
  • 173.1K Life & Family
  • 247.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards