SALES VS. ADVICE

In moving from sales to advice a financial services professional moves from a transactional client relationship to one of a fiduciary responsibility.

The financial services consumer marketplace is decidely ahead of the industry in its need for client centric service vs the distribution industry's current capacity to deliver unbiased product solutions.

Through the initiatives underway within the industry's regulatory bodies the gap is closing.

Professionals who serve their clients in a fiduciary capacilty are members of a 'professional practice'.

Professionals who serve their clients in a marketing/sales capacity are members of an 'industry'.

A professional financial advisor acts in a fiduciary role.

Financial institutions and their distribution channels act in  'manufacturing'/'production'  and marketing/sales roles.

It is this cultural dichotomy and divide in the financial services sector that must be resolved.

We are moving toward a resolution.