Petra Witzmann

Petra Witzmann

Why am I an EFA, what benefits are there for my clients and for me?

I’m responsible for Private Banking in the Waldviertler Sparkasse Bank AG with a colleague of mine; our teams consist of eight advisors.

Private Banking is not selling products like securities or saving accounts. It is about accompanying our customers through their whole life cycle. In the best case a financial advisor should work like a “family office” and ideally follow clients throughout their life and be part of a person’s life. The customer can benefit from a broader range of services. The EFA is an important Standard as quality feature

Succession Planning is also an important part in the life circle for the customer and his family. In this case, you get the best expertise and a high standard with the CFEP education. Honestly, to know about the heritage is also a big profit for the bank.

An important content to compete is the risk control of investments and the consideration of financial behavior, all this fundamental information I have received in the study to the CFP.

A big benefit for me and my team is the connection between a good education and the requirement of the new regulations under MiFID II.

All these educations and standards are a big competitive advantage in the financial universe.

It takes years to build credibility and reputation among clients. Once lost, it takes by far longer to rebuild that. That is why I believe that every financial institution which wants to build long-term relationships with clients should ‘equip’ its employees with EFPA certificates. It is a true guarantee of quality.