My local bank has an area set up for financial planning, insurance and investments. Out of ten visits less than half the time there are no customers sitting with the bank financial advisor. Not once have I seen a line or a crowd of people waiting to speak with the financial advisor. I have visited my bank at all times of the day and on Saturdays as well.
Do you notice an increase of customers at your bank seeking financial advice?
A bank is typically respected and trusted for all financial matters so since the Gramm-Leach-Bliley Act of 1999 it seems most banks have taken advantage of gathering more assets. However, if you are providing great service to your clients and quality products I don’t believe banks should steal away clients or make a big dent in your client base.
Has any one been affected in the past few years by the increase in insurance revenues at banks?
Great point about customer service - I am of the opinion that most banks in general tend to provide some of the worst customer service around, which leads me to the conclusion that insurance companies (large or small) who can take goood care of their customers will come out ahead in their industry most of the time.
Jerry
www.leads4insurance.com
Posted by: Jerry | October 30, 2007 9:13 PM | Permalink to Comment