Tammy Yorba’s Post

Florida

Banks collectively cut half as many branches last year than they closed in 2021. They're all dealing with the big question of how many branches do they really need. Compare the 2023 top consolidator — Ok, that's Wells Fargo with net closures topping 280 — with the bank that added the most — Chase, with net 25 openings. Chase in early February said it will open 500 over the next few years, but not how many it will close. The 2024 data is going to be really interesting. https://lnkd.in/ehPtudd6

The client's best interest should always be the top priority. Banks have simply forgotten that! There is an alternative for Canadians; a strong group on individuals who thrive to do the best for their clients and care for them. It doesn't have to be me, but find an advisor that you have a connection with and that you trust. The more we deal with advisors as opposed to banks, the more we keep the affordability and availability of sound financial advice in this country.

Integrity and conscience should work hand in hand. As an advisor you have choices of who you want to work with and what you and the brand you represent stand for. There are too many advisors out there that I'm sure feel stuck after realizing that the company that they joined isn't what they had envisioned when they signed on to work with them. True integrity is shown by doing the right thing even when it isn't easy. I made this choice early in my career and now my clients and I are so much happier for it. To any advisors out there that are feeling stuck or worried about making a change, please reach out and lets have a chat. The only regret you will feel is that you didn't have the courage to do this sooner. Here for you. #MCOWealthInspiringIntegritythroughAction

Whether you view your career path as a journey or a destination, at Wells Fargo you can shape a career that aligns with your passion and goals. A meaningful career starts with a conversation. Reach out to Loredana A., Megan Mrky-Webster or Rich Chapman, AVP to talk about what is uniquely important to you in your career.

“You’re just another banker.” A prospective client once said this to me in an early conversation. "I don’t see how you’re any different—you’re just another banker." Here’s how I responded: 1. I listened to their concerns. - Instead of acting on my first instinct to defend myself, I tried to understand where they were coming from. (Checking my ego has been one of my 2024 goals) 2. I explained the difference in roles. - I shared that while many financial professionals work in banks, not all of us do the same job. Some work directly for the bank, and others, like me, run independent practices through companies like Scotia Wealth Management. Both roles are important, but they are different. 3. I talked about the difference in service. - I explained that I work with a smaller group of clients so I can give more personalized advice and attention. I also have specialized education and experience. This is different from the kind of service you might get in a retail bank, where the focus is on helping more people. At the end of the day, it’s not just about where you work—it’s about the relationships you build and the care you put into helping people reach their goals. What’s something about what you do that’s commonly misunderstood? P.s. This picture was taken on my last day of working as a branch advisor.

Financial institutions looking to improve efficiency in anticipation of squeezed margins on loans.

DBE supports community financial institutions across the Midwest, so it's no surprise that this recent CNBC article caught our attention. With Chase expanding its reach and Bank of America and PNC making similar moves, it's clear that CFIs are facing unprecedented competition. However, at DBE, we believe this isn't a reason for despair—it's an opportunity. “The folks we serve care. They are already a foundational part of their communities. Our technology empowers these institutions to not just gain efficiencies but to compete on wallet share, deposits, loans, and attracting talent." Josh Banta President, DBE Community financial institutions should view this as a moment to strategically align with the right technology partner. By doing so, they can not only maintain their position but also expand their influence in the markets they serve. What steps will you wish you had taken this strategic planning season to ensure you retain clients and talent if Chase opens a branch in your town within the next three years? Need help coming up with your blueprint to success? DBE is here for you. Contact us today at: https://lnkd.in/gxavaiPR

I never thought I’d walk out the door so fast… Here’s a little story about customer service and why it matters to your business. A few years back, I took myself out of the traditional banking system and opted for online-only banks. Yet, once every couple of years, I need something from a physical bank, and it’s a pain not having one. Last week, I had such a situation and decided to head downtown and open a new bank account. I used to bank with Chase. They’ve always been fine. But, I decided to try Bank of America. (Something new) --- In my wildest dreams, I did not expect what happened next… I walked in to find a banker, but no one was inside. No other customers, no tellers, no bankers… not a soul. I waited... A few minutes pass. I noticed a door that said “employees only” propped open right next to me. "Employee’s only?" I thought... "Who’s gonna stop me from walking in there?" So secure. A few more minutes passed, and no one showed up to help me; I walked out. The next day, I went to a Chase branch. The building's interior and exterior were sleek, clean, and warm. A banker greeted me immediately and helped me open a new account. I got what I needed in a reasonable time, and I felt welcomed. Precisely like 90% of all my other experiences at Chase have been. The experience with both banks made me think that all those things I took for granted about Chase were unique to them. (I can't believe I wrote that) Plus, it dimensioned Bank of America's brand in my mind. It's not a good thing, given Chase is the industry leader who's 25 billion in revenue bigger than them. All this judgment based on a likely a fluke. But it created a risk that made me appreciate what I had known. It’s a good reminder of how small things matter and how they cause us all to make snap judgments. Snap judgments are not always true. They are snap judgments, after all. But being true or false doesn't matter. What matters is what an interaction makes your customers think and do. Want your business to grow? Maximize the number of interactions that cause your clients to do what you want. 

The basics are important…