SET continues banker-to-broker scheme
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The Stock Exchange of Thailand expects to increase its financial-institution partners through the Banker-to-Broker project, while more attractive products would expand the number of customers referred by bank officers to invest in the capital market.
The SET has continued the Banker-to-Broker project after launching it last year and persuading more than 10,000 accounts referred by bankers to invest in the capital market, said Charamporn Jotikasthira, president of the exchange.
The SET has increased its partnerships with banks and securities companies to expand the investor base.
A total of 5,256 bank branches nationwide help refer customers to affiliated securities companies.
The project is expected to expand the investor base by more than 15,000 accounts though bank channels and more than 8,000 accounts through Internet banking.
Charamporn said bank branches were an effective channel to introduce alternative investment products to depositors.
Bank customers looking for higher returns than they can get from deposits are the targets of this project, while the market at present has a wide range of products that are easily understandable, such as gold ETFs (exchange-traded funds) and property funds.
Well-trained officials at bank branches have influenced such investor decisions thanks to the relationship between bankers and clients.
The bourse has developed comprehensive training programmes for bankers and staff of affiliated agencies to ensure they understand the products in the capital market and how to invest on the SET through electronic channels. Branch managers will be trained in the Click2Win online stock-investment system.
Stronger collaboration between the capital and financial markets will strengthen the wealth management of banks’ clients, Charamporn said.
The Banker-to-Broker project also offers overseas field trips to bank officers who expand the investor base the most during the programme.
