Why Your Star RMs Can Become a Liability
Most desk heads can tell you straight away which RMs bring in the most revenue and Net New Money. Often, it comes down to two or three people, sometimes just one. Ask about the rest of the team, and the descriptions become less specific: solid, reliable, “doing fine.” In many private banking teams, this imbalance has become accepted, despite the risk it creates when a top performer leaves, burns out, or retires. The gap in results rarely closes on its own.
When senior management allocates new clients, the best opportunities tend to go to RMs who are already bringing in the most business. They also get more time with product specialists and greater attention from management, while those in the middle receive less of both. Team leads often have their own client books to manage, leaving little time to work with individual RMs on their development. Training, meanwhile, is often delivered once a year, with much the same content for everyone and a strong focus on compliance and processes. There is little room to address the specific challenges RMs face with prospects and clients.
When Top Performance Comes at a Cost
Dependence on a top producer can also make conduct issues harder to address. If management feels it cannot afford to lose that person, missed process steps or inadequate suitability documentation may go unchallenged. Over time, this can undermine standards across the wider team.
Different RMs, Different Development Needs
Individual assessments can help identify what each RM does well and where they need to develop. One may be comfortable discussing portfolios but struggle with prospecting. Another may be good at winning new clients but find it harder to develop the relationship once the account is open. These are different challenges, and the same training is unlikely to address every focus area.
From Annual Training to Ongoing Development
Short training sessions spread throughout the year create regular opportunities to work through real client situations and practical examples. Coaching from team leads between sessions helps RMs put what they learn into practice. Tracking progress along the client journey also provides a fuller picture than year-end AUM and revenue figures alone. Meaningful client conversations and referral requests can indicate whether relationships are developing, while changes in share of wallet show whether they are deepening.
The Untapped Potential in the Middle
The RMs in the middle of the team often have more room to improve than those already performing at a high level. Small, sustained improvements across this group can contribute more to the team's results than recruiting another star. Developing these RMs also reduces dependence on a handful of individuals. When more people across the team have the skills to manage client relationships, they are better prepared to step in when a colleague leaves. Clients benefit from that continuity, and the bank stands a better chance of retaining their business.
A Different Role for Team Leads, HR and L&D
For team leads, this may mean reconsidering how they divide their time between supporting top producers and developing the rest of the team. HR and L&D can help by providing regular training built around the desk's actual skills gaps and individual development needs, rather than delivering the same program to everyone.
