How to mentor successful Hague millennials

"Lange time, the young generation of wealthy people fell between two stools in the banking world," says ING's passionate private banker Lisa Rijling (1989). From ING's goal - 'empowering people to stay a step ahead in life and in business' - ING Private Banking The Hague enables customers to pursue their dreams and goals.

"We listen to you, analyse, and help you become aware of what really matters to you, both privately and professionally. In doing so, we noticed that ambitious millennials in particular were in the game differently." So Rijling and her colleagues, who internally call themselves 'Next Generation Bankers', opted for a new direction.

'Generation Y'

To arrive at that approach, Rijling and her colleagues conducted extensive research into the profile of the young generation of bank customers. "This 'Generation Y' is inquisitive and curious, is sensitive to equality and authenticity, does not readily accept the status quo and wants to do good for the world."

The different character types among the millennials Rijling serves as a private banker each have their own expectations of a bank. But the common denominator is that the traditional role did not provide them enough.

Interaction

"Young, self-made entrepreneurs tend to be strategists and good networkers, and often already know what they want," Rijling argues. "Yet ING can empower these entrepreneurs by, for example, connecting the young entrepreneur to an earlier generation of entrepreneurs."

This is proving to be a successful interaction. "Even in the market, you already see combinations emerging where young and old seek and reinforce each other. From that synergy, you see a lot of energy emerging. That is very nice. In doing so, we see the driven entrepreneurs heading towards their goals and it is up to us to point out their blind spots."

Older generation

Besides the 'selfmades', the young bankers deal with the successors of family businesses. "Often business and private interests intertwine here; while you guide the older generation to the retirement phase, you help the younger one get ready for an acquisition." In such cases, Rijling often notices the need for advice at the strategic level. But both for the younger generation and the older generation also on an emotional level. "The younger generation wants to achieve goals using faster, technological means. Sometimes against the course of the earlier generation."

They can also turn to ING Private Banking for advice on this. A third group, the children of wealthy individuals, are 'educated' enough financially by the private bankers to manage capital responsibly in the future. They do this partly by talking to the children in person.

'Authentic generalist'

Rijling calls herself an "authentic generalist" and calls on her close-knit group of colleagues from The Hague. "Paul Belt is Investment Specialist and a driven innovation expert, Jurgen Faerber has a large deployable network in addition to his expertise as an experienced banker, Tomas Hiep contributes to building and making high-quality real estate portfolios sustainable, Allan Barzndji monitors the long-term goals, the feasibility of our relations' dreams and wishes by checking whether they are still on track. And so we look at the younger generation, but also certainly the earlier generation of clients in their totality."

ING Private Banking

The young bankers welcome ING's innovative strength and what ING Private Banking stands for. Partly because of its customer focus, the bank has recently won several international awards as best private bank. "For me as an idealist, it's great to work at a bank that wants to add value, not just a supplier of financial products and services," Rijling clarifies.

More information: www.ing.nl