OREANDA-NEWS.  March 13, 2014. For the second year in a row, SEB is organising a month of consultations for private clients, which the bank advises you to attend with your whole family.

“In Estonia, it is customary that you come in for a consultation with your life partner if you are planning to take out a home loan. We are inviting a family to come in for a consultation and review their finances together. We will map the financial situation of the family, identify what their key needs are at this very moment and offer advice on finding potential solutions. Last year, when we started to promote this type of consultation service more, we received a great deal of positive feedback, which encouraged us to repeat the consultation campaign again this year,” said Triin Messimas, Development Manager of Private Loans at SEB.

Experience to date indicates that in the course of a consultation a family will arrive at shared decisions. Furthermore, in addition to potential loans, we can also propose investment and saving solutions designed for the entire family.

The experience of private client executives at SEB suggests that women consider it more important to manage risks and accumulate a reserve of cash for their children. Men, by contrast, are likelier to take an interest in investment opportunities carrying a higher risk. Families who have attended consultations are surprised at the possibility of managing their finances even if their incomes are low, so that besides repaying their home loan, there will be enough money to accumulate a financial buffer for emergencies and to save up for their children and for their retirement.

Generally, families are very satisfied that consultations have provided them with a single, comprehensive view and a shared plan for organising their finances. Keeping a couple in a shared loop of information provides security for the whole family to be able to cope also in times that are more challenging financially.