FinecoBank, or more simply Fineco, led and built step by step by its CEO Alessandro Foti and today an independent company after the separation from the Unicredit group, is recognized as one of the most important financial advisory companies in Italy. But not enough is known about its advisors, recruitment and training systems, and the type of business that sets them apart from other financial advisory firms. FIRSTonline asked Angelita Brambilla, PFA FinecoBank Network Development and Support Manager, to help us understand and shed light on how the bank operates. Here are his answers.
Doctor Brambilla, can you explain to us how the network of consultants is structured today?
“To date, our network has around 2.600 financial advisors who manage over 70 billion euros in assets, active from north to south throughout Italy, with around 400 Fineco Centers overseeing the area. Furthermore, we are one of the reference players in the Private Banking segment in Italy with 33 billion euro of assets under management and we employ a structure of almost 500 Private Bankers".
But what are the characteristics of the consultancy model that most distinguish Fineco on the market?
“Fineco's advisory model is unique, it stands out strongly both from that of other network banks and from traditional banks due to its ability to perfectly integrate the human component and technology. We define it cyborg-advisory, that is, to support the professional's skills with innovative digital tools, simplifying their daily activities and giving them back the time to focus on the customer and protect their assets. In this way we allow our professionals to expand their clientele, guaranteeing significant growth rates in the managed portfolio. A confirmation of the great competitive advantage that derives from the ability of our consultants to be able to reach customers remotely at any time, came during the difficult months of the lockdown. Supporting customers in their savings choices in such a critical moment was completely natural for our consultants. With great satisfaction both on their part, who have not had any drop in operations and productivity, and obviously on the part of their customers. Our model also stands out for an approach based on broad freedom of maneuver from a commercial point of view, which allows our professionals to operate exclusively in the interests of clients and according to their real needs".
If we had to draw an identikit of the Fineco consultant, how would you describe him?
“All Fineco financial advisors are trained professionals with solid ethical principles. Our consultants must first of all share our basic vision: respect for the client, his interest and his financial well-being must be the main objective of their activity. We also value characteristics such as dynamism, the desire to get involved, the right amount of personal and professional ambition, initiative and organizational skills. In summary, we could say that the Fineco consultant has a highly developed entrepreneurial spirit".
With which criteria and how does the recruitment of new consultants take place?
“The new consultants are selected directly by the managers in the area, with whom they will then develop their professional career. Our managers propose a structured process with well-defined phases, aimed at mutual and in-depth knowledge. It is very important to us that candidates immediately enter our corporate culture and fully understand our commercial strategy and the tools we offer. Indeed, it is essential that the transition be mutually satisfactory. During their professional career, Fineco consultants can count on constant and high-level training, we give top priority to the growth of our professionals and the expansion of their skills".
What kind of opportunities does Fineco offer to young people who want to get started in financial consultancy?
“Fineco strongly believes in young people who want to undertake this activity and in the importance of their contribution in terms of new energy and stimuli to the network of financial advisors. For several years we have been carrying out a project designed specifically for them, which provides constant support for building their career path, from preparing for the OCF qualifying exam, to working alongside a trainer as a point of reference in the area, up to targeted training courses to help him develop the necessary technical and commercial skills. Forms of economic support are also envisaged for the development of the portfolio”.
