Have you ever bent or broken any policies to make a client happy?
This question is a blend of honesty-based and client-service inquiries. Sometimes, organizations are okay with you bending the rules to keep a client happy; however, in the wealth management and finance industry, this is a difficult balance to strike. You need to know your audience and never break any legal obligations in the name of customer service.
"We strictly enforce policy and rules in my current company. I understand the need to be careful when it comes to breaching any laws related to finance and more. If the policy bent is something like waiving a small administration fee, then I will gain permission from my supervisor before doing so. However, I would not consider breaking a significant policy or legislation to make a client happy. I would work harder to find an alternative solution."
"I have been taught that rules and policy exist for excellent reasons. If I were unsure what to do or asked to break or bend a rule, I would speak with my management to see what could be done to make the client happy without entering a grey area."
Goldman Sachs has, on occasion, come under scrutiny in the media for their practices. So, your interviewer is curious how you will navigate this question without creating more controversy, especially since you are competing to be a representative of Goldman Sachs. Therefore, it is best to stick to the rules, according to their branding. As David Solomon states, "In the end, what makes our culture strong is not just that our people know the difference between right and wrong, but that they show, through their actions, doing the right thing is its own reward. We are all stewards of the firm's culture, dating back to our beginnings as a partnership, founded in trust and guided by integrity. Everything we do, every piece of advice we give, every transaction we execute, every asset we manage, every interaction in which we take part, must serve to deepen that trust." In their code of conduct, they also state, "Our clients' interests always come first. Our dedication to our clients demands that we put their interests above our own. It is critical that we avoid the appearance of a conflict of interest, such as between the firm and our clients or between our people and our clients. Every situation must be considered and navigated with an unyielding, client-centric focus."
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