Professionals in the finance industry need to be very careful with their reputation. Any negative information about your business can seriously impact your standing in the community and dramatically impact your career projections. When a financial advisor, brokerage, or financial institution has a positive reputation, they will find it easier to attract clients and quality staff members, while a negative reputation will lead to reduced income, termination, and in some cases being fully excluded from the industry.
At DiamondLinks, we understand the importance of reputation management in the finance industry. There are several concrete steps that can be taken to cement your positive reputation with the public. We also have proven techniques to help to combat negative information that is unfair or misleading.
Clients need to put a great deal of trust in their financial advisors and institutions. A person’s livelihood depends on their ability to keep their financial situation strong. Any sign of a poor reputation can cause prospective clients to turn away from the company.
For example, Wells Fargo suffered a devastating blow to its reputation when the scandal of creating false consumer accounts broke in the news. Wells Fargo was fined over a billion dollars for creating an overwhelming number of false accounts, as well as charging unwarranted mortgage fees and fraudulent auto insurance policies.
The company experienced $619 million in operating losses in 2018. They have also had to spend a great deal of money on advertising and promotion in an attempt to bring their reputation back from the brink. While these damages are shocking, the negative reputation of Wells Fargo had an impact at every rung of the chain of command, from CEO to advisor. Advisors across the country were suddenly forced to field questions about their involvement and were scrambling to find ways to prove their trustworthiness.
While the overwhelming majority of financial advisors are above-board and focused on helping their clients manage and grow their money, unethical advisors give the business a bad name. These bad actors can cause damage to their competitors’ businesses as well as their own.
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Lenders also have a unique responsibility to their borrowers. There is a great deal of competition between various lenders, particularly in the mortgage market, and borrowers are looking not only for the best interest rates but the best service as well. Mortgage lenders can be notorious for unethical behavior. It is extremely important to make sure that your company’s reputation is not damaged by a bad actor with a similar name.
Investment bankers require their clients to trust them as well. Making sure that your clients are kept happy and that their money is handled well goes a long way toward creating a positive reputation.
When people put their investments into professional hands, they are taking a risk, but they want to know that their risks will be outweighed by the gains they will gather from well-managed money. Not every investment will be successful.
Investment bankers need to minimize the effects of losses on their reputation. Fortunately, most clients understand that investing is inherently risky. However, disgruntled clients could post unflattering reviews online, and hands-on reviews like this are often given a good deal of credibility when searching for a trustworthy company.
Lenders also have a unique responsibility to their borrowers. There is a great deal of competition between various lenders, particularly in the mortgage market, and borrowers are looking not only for the best interest rates but the best service as well. Mortgage lenders can be notorious for unethical behavior. It is extremely important to make sure that your company’s reputation is not damaged by a bad actor with a similar name.
Finance professionals have many ways to enhance their public image. DiamondLinks can help you create an array of supportive materials to be posted online and in print, effectively giving your reputation a solid foundation that can weather future changes. We can position you as an expert in your field. Sharing timely, accurate, helpful information with the public is a great way to build your reputation.
Charitable giving is another good way to boost your public image. Choosing causes that matter to you personally will lend authenticity. Publicizing this giving, while being careful not to seem too promotional, can help the public to see your company in a positive light.
Having an expert blog on your website is a great strategy for any type of financial business. Whether you are blogging on investment vehicles or on lending strategies, you will be able to share some of your secrets to success with an interested public. Being open and helpful increases your chances of being contacted by a potential client.
Our company has proven techniques that can remove negative reviews and information from public view. This can help when inaccurate or misleading information is posted about your business. Many sites will not take down reviews unless they have been proven to be fake, but our techniques can greatly reduce this problem.
We can also help your business overcome unfair complaints. Many disgruntled clients want to make a company pay for something that was not their fault.
If your business does make a mistake or suffers at the hands of unruly competitors, our services will pay for themselves easily. We can minimize the effects on your bottom line and make sure that your clients continue to trust you.
Reputation management can help any financial company or consultant preserve their profits. By removing negative information and presenting positive information to replace it, you can ensure that your public reputation is preserved. When your company suffers a loss in reputation, you will lose money and lose your public standing.
While financial businesses often deal with risk, making a mistake with your client’s money doesn’t have to mean that your business is doomed. DiamondLinks can help to counter some of the worst information about your business and replace it with positive news.
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