Authors: Paolo Nattino, Carlo Pittatore, Maurizio Corsoni, Enrico D’Onofrio
Abstract:Paolo Nattino stood in his office in the prestigious Palazzo Altieri, looking out of the window overlooking Piazza del Gesù in Rome, pondering the future of Banca Finnat Euramerica (BFE), which had been founded by his family well over a century earlier. His mind was immersed in the dilemma presented by the imminent introduction of the Retail Investment Strategy (RIS), which was in the process of being approved by the European Commission and which could lead to the implementation of a new integrated and holistic advisory contract. As Paolo contemplated the situation, the opportunities and risks of this new strategy emerged in his mind. On the one hand, an integrated approach would have allowed the bank to offer more comprehensive and personalised advice to its clients, taking into account a wide range of factors, including financial goals, wealth situation and risk profile. This could have led to greater customer confidence and satisfaction, as well as potential business growth opportunities. On the other hand, there were also risks considering. An incorrect or ineffective implementation of the new consultancy contract could have led to increased operational complexity and potential conflicts of interest. Furthermore, the introduction of a new strategy required adequate staff training and significant investments in technology and human resources.
