And there is an information asymmetry there, with your advisor knowing more info about the product than what is known by the buyers.
Moreover, an insurance agent doesn't know about Mutual Funds and vice versa.
I think there is a huge business opportunity for a one stop, holistic financial services company.
What would be my wish list from such a company?
To differentiate between other competitors, which includes millions of agents/advisors, they must have:
- Well trained, professional financial planners on role call
- Providing personal finance education to the prospects through:
- e-books,
- fortnightly news magazines,
- online module on financial planning,
- seminars every week,
- seminars at the workplace of prospects (through tie ups with corporates)
What is your wish list for a Financial Services Company?
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2 comments:
A one stop financial shop would be good but it doesn't seem feasible that one place could offer the most competitive deals let alone have enough specialist knowledge for the products to be superior.
I'm not saying that I enjoy being contacted by several different agents about financial services but I think that there are limits on the capability of a single organization to deliver decent quality.
If you manage to launch a company like this I will certainly sign up for it!
what is the cost associated with your wishlist????
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