You’ve seen the ads for financial advisors. They tell you, “Customers are our most important asset” or “We care about your future.” Based on their marketing messages, one would think the industry is filled with professionals whose sole purpose is to make your life better.
Yet, according to the latest Deloitte research, precious few Americans trust the financial services industry.
So how do well-intentioned financial professionals combat negative public perception? Full disclosure, my father was an old school banker, my brother is a former stockbroker, and I know several financial planners personally. There are plenty of honest professionals out there. But in many cases, the language they use and the way their organizations are structured actually work against them.
Here are four ways bankers shoot themselves in the foot, and tips for changing their perception.