Luca Genoni is a Private Banker at Fideuram Intesa Sanpaolo Private Banking. He studied Economics at Università degli Studi di Milano.
1. What made you want to pursue a career in the financial industry? and what do you find more attractive about working in the asset management industry?
A career in the financial sector has always been a passion that was passed on to me by my grandfather and my father, both professionals in the sector, while curiosity and the desire to improve always push me to keep up with the constant changes. What I find most interesting and rewarding is being able to always be present in the lives of my clients to help them realize their projects and guarantee economic well-being and a secure future for them and their families.
2. What does a normal day look like? How do you divide your different tasks?
I spend my days between client appointments and analysis of their respective investments. Normally I organize my work in such a way as to divide the day into 3 phases: 1) portfolio analysis and appointment preparation 2) visits from clients 3) management of unexpected events.
3. What is in your view the most important part of wealth management and advisory?
Surely the fundamental aspects are the knowledge of the customer, his needs and his objectives, in addition to the constant updating of his situation at any stage of the market, always making my closeness felt especially in times of great volatility.
4. Have you seen a change of the profiles of your clients? Would you say there has been a generational change in wealth?
Unfortunately, in customers under 35 there is not much propensity to save, especially among the “generation z”; I therefore try to do some financial education to better understand the importance of a peaceful future and to be able to face the various steps of their life calmly.
5. What are your clients asking for at the moment? And what would you advise in the current situation of the markets?
Most customers in this delicate phase of the market (between war, inflation and rate hikes) obviously ask to reduce potential losses as much as possible, while the more daring tend to want to take advantage of the fall in prices and increase their investments. Of course, I provide personalized advice for each client based on their risk appetite: stay on hold or take advantage to increase your investments possibly with equities.
6. Which sectors and geographical areas do you think are particularly interesting at the moment?
Personal I don’t have a geographic area of greatest preference, I usually prefer to stay on global, while the sectors of greatest interest are technology, infrastructure and food.
7. How would you define yourself in 3 words?
I like to describe myself as a precise, sincere and curious person.