Financial Services Industry
Industry: Email Alert RSS FeedPracticing world-class wealth-care: advisors must demonstrate, and clients experience, competence, caring and integrity if they want to make it in today's competitive arena.(Your Clients for Life)
Research, November, 2003 by Anthony, Mitch
THE TIME HAS COME FOR A NEW METAPHORICAL STANDARD OR archetype in the business of providing financial advice. The reason this industry needs a new metaphorical anchor is because the metaphor that defines the industry also defines the client's experience. Exactly what archetype has undergirded this industry for the last 30 years is a bit of a mystery. Because of the focus on risk and reward, I suspect that this industry unwittingly fell prey to the base metaphor of gambling, which has led the industry down a road that is dangerous and destructive to client relationships.
Client conversations are littered with emanations of the gaming metaphor. Clients come with articles about an investment they think they want to own (tip sheet) and ask their advisors (bookies)...
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