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Virtual Internships solves the employability challenge with university and K 12 programs incorporating guaranteed internships, upskilling courses, and mentor coaching  

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Financial Services Reform - How'd We Do?

Now that a Financial Reform Bill has been passed by Congress and signed into law, it's worth taking a step back to see how well the bill achieves what some (such as myself) saw as the essential tasks of financial reform, to prevent a similar meltdown from blindsiding us in the future.

Here's some background:

In November 2009, I was getting upset at the organized, well-funded campaign of "disinformation" and obstruction taking place in the nation's capital to put the kibosh on any truly effective consumer protection in the banking and financial services industry, (where I began my career). I sent a letter to Christopher Dodd, Chairman of the Senate Banking Committee, whose consumer protection efforts I've been involved with in the past. In the letter, I outlined 7 principles that I believed had to be included for financial reform to achieve its objectives.

How well does the Dodd-Frank Wall Street Reform and Consumer Protection Act make the grade? Below, I've assigned a letter grade for each of the 7 principles, with pertinent comments:

1. First, there needs to be a clearly-stated mandate and set of principles for the Bill that assures that those in government who are to serve as watchdogs in enforcing the provisions of the laws, understand their duty on a basis that resists the influence of politics. The job of the watchdog in government is to give pushback, to level the playing field, to publicize wrongdoing, and to deter others in the industry from following down the same wrong path.

Grade: A

Comment: While specific rules in some cases are still to be drawn up, there is clearly a new sheriff in town and the previous "anything goes" atmosphere has been brought to a screeching halt.

2. Second, there needs to be a system of checks and balances put in place to assure that accurate information is being produced and reported, and that the law is being carried out.

Grade: B+

Comment: The requirement for exchange trading of derivatives, and creation of an oversight process for systemic soundness are needed steps in the right direction. Having consumer protection under the Treasury Department remains a concern.

3. Transparency must be created via a process of auditing and public reporting.

Grade: B+

Comment: Congress will be auditing the Fed for greater transparency. Jury is out on this, we'll have to wait and see.

4. Capital adequacy must be enforced relative to the types of risks being incurred and the type of stakeholders being exposed to these risks.

Grade: B+

Comment: With no limitations on leverage, and considerable latitude for the regulators, much will depend on the competence and diligence of those in charge, who are being paid by the taxpayers, but not always controlled by their interests.

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Ethics in the Financial Planning Industry

Famous author Samuel Johnson said "Integrity without knowledge is weak and useless, and knowledge without integrity is dangerous and dreadful."

The recent collapse of some of the biggest names in the financial services industry has borne witness to this thought. While part of the blame for the financial crisis was placed on lack of a strong regulatory framework, it was a largely a result of lowering of ethical standards by managements. This included performance evaluation and incentive structures that induced sale of high risk and inappropriate products without needing to prove sustainability, coupled with weak oversight, reporting and disclosures. The events also busted a common myth that that as long as you don't violate the law, you are ethical.

The cost of ethical breakdown is usually more than just regulatory fines and litigation. It leads to loss of image and reputation, heightened scrutiny by internal functions and government agencies and even employee demoralization and attrition. On the other hand companies that have consciously invested in developing a strong ethics program have actually seen benefits by attracting similar minded employees and business partners. Sales in this industry are directly linked to trust - so stronger the image of the company, higher the sales in the long term.

The dictionary meaning of Ethics is "The rules or standards governing the conduct of a person or the members of a profession". Ethics in financial planning can mean various things, many of which are not precisely stipulated by the law - like acting in the best interests of the client by providing objective and honest advice, providing full disclosures of risks and benefits, and transparency, fairness and professionalism in all business dealings be it product design or customer service.If you liked this posting and you would like to obtain more information concerning ethersmart lừa đảo kindly check out our web site.

There are many elements that go into creating an ethical organization. A few that come to mind are:

Company Values: Values and expected behaviours set the tone for everything a company does. But it is important to constantly communicate these through real life examples and most importantly by consistent behavior of senior management.

Policies and Training: Create policies that document purpose, procedures, roles and responsibilities, reporting requirements and penalties for non compliance. Reinforce Company culture, code of conduct, legal & regulatory obligations and policies through training.

Embed transparency and fairness into product design, sales literature, advertising and all customer communication

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One of the Five Top Recession-Proof Industries - Number 5 - Financial Services

Don't be misled by the title of this fifth workplace sector. We certainly know that a financial function exists for all business enterprises but it also covers a range of career paths in the following fields: banking (investing and lending), insurance, accounting, securities (trading and analysis), and financial or money management.

In the wake of recent financial scandals alone, there have been enormous upswings in the accounting and actuarial disciplines as well as more rigorous oversight and reporting requirements causing new standards for these professions.

The industry has also been marked by numerous mergers in recent times which has, in turn, led to companies of increasing sizes, but with a resulting decrease in the total number of firms available in these fields. Part of the reason for this, of course, comes as a result of the economic necessities of the time as evidenced during the credit crises of 2008-9 and the downturn in the real estate markets.

Examples are abundant where banks have merged (or reorganized) with securities and insurance firms in order to give their clients not only broader coverage of products but are able to consolidate their client accounts making things simpler and more convenient for all. The obvious diversification of the larger companies makes them stronger and more able to withstand these "ups and downs" of economic fluctuations. The advantage of "cross-selling" newer yet related products to existing clients makes for smart moves for such companies looking to broaden their horizons. Unfortunately, these moves have also necessitated extensive changes in the workforce needed to meet these new, broader services provided under one roof.

The U.S. Dept. of Labor has invested over $6M to assist the financial services industry by developing strategies to meet the challenges for hiring, training and retention of an adequate workforce. The Employment & Training Administration (ETA) under the U.S. Dept of Labor has, in turn, invested most of this money in the High Growth Job Training Initiative which has helped open more avenues for good paying jobs and career paths for the industry.

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What's the Financial Services Market Like?

This is a question that has been asked over and over again all around the world. Some people are asking this because of the sheer numbers of people that are in the financial services market and are involved in either a career or job that keeps a close eye on the current financial industry trend and try to predict where the market will go next as the entire world's financial markets are in a free fall due to the economic mess that the entire world is currently in.

Some people are saying that there are too many people that are already working in this field and that far too many people all around the world that are either under-insured to be able to withstand a financial crisis such as losing their job or the death of a primary income provider or are totally uninsured because they either do not know how important financial planning really is or just do not have the money for the life insurance that will see to their family through if something happens to them. The other reason that people are complaining about the financial services market and how bad things are is because they have either lost money on investments, had financial problems because of poor financial planning, or simply gotten so disillusioned by the current status of the financial markets that they have given up hope altogether of understanding how the markets really work.If you liked this posting and you would like to obtain more information concerning ethersmart lừa đảo kindly check out our web site.

These people really do not know that there definitely is hope out there and that all is not lost. The key to keeping your sanity and keeping your clients in good financial standing in this topsy-turvy uncertain financial market is to know what the current financial industry trend really is at any given point in time and to be able to adequately provide the soundest financial planning that you are able to give to your clients so that they are prepared for any and all possible financial situations that are going to come about. As long as you; as a financial adviser, are able to guide your clients to make the correct financial decisions as far as insurance and investments are concerned then those clients are going to be in much better financial shape than a great deal of the people who are completely thrown out of sync by the current financial industry trend and economic situation.

This is what a very good financial adviser is capable of doing for his/her clients. Yes, there were a lot of people who made their living in the financial services industry and a good many of them have either left the business or have been laid off due to the current economic situation. Those financial advisers who are good at keeping up with the current financial industry trend and knowing what they are doing are the ones who are still going strong and able to guide their clients around any financial trouble that they see and out of those they are in currently.

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Financial Services Professionals: The Business of Busy-ness, is it Destroying Your Sales?

Did you know that the word "business" actually comes from the word "busy"?

Financial services sales offers us several ways of keeping busy. In fact, three types of activities fill everyone's days - those which are income GENERATING ... income CONSERVING ... and income CONSUMING.

The challenge is staying focused on the right activities and in the financial services industry you are probably responsible for ALL three!

Income generating activities are the lifeblood of your business. They are where ALL the money comes from. Your sales are the result of this step well done.

In this category you will find all sorts of activities - prospecting ... customer acquisition ... marketing ... research and development and that's just a glimpse.

Income Conserving activities protect your hard earned money. Here is where you preserve your sales.

In this category you'll find activities relating to being efficient, as well as anything that impacts good will and customer loyalty.

Income Consuming activities are a normal part of every business.

While many income consuming activities are necessary ... unavoidable ...important... perhaps mission-critical, most are simply a blatant waste of time and resources and eat away at your hard-earned profits.

Income consuming can be tough to evaluate , because on the surface they seem to be income generating or conserving. Whether it's being dragged to and through another pointless meeting or policies and procedures that do nothing but complicate the simplest of tasks ... or (fill in the blank with whatever drive you CRAZY), the average day is filled with things that are of little or no value to your business.If you liked this posting and you would like to obtain more information concerning ethersmart lừa đảo kindly check out our web site.

Nevertheless, activities that ARE of PARAMOUNT importance to your business can STILL be incoming consuming.

For example: let's say a prospect wants your service and your friend refers them to you. You make an appointment, give them a presentation and they hire you. You then go back to the office to finish up paperwork and begin being of service.

While anyone in sales would probably argue the point, when they do the needs analysis and the paperwork, that is NOT income generating ... it's income CONSUMING. That does not mean it wasn't important - it was CRITICAL in fact! But the income was actually generated by the salespersons marketing efforts. Everything that occurred AFTER the presentation became an expense in order to fulfill the agreement.

The salesperson can certainly help CONSERVE income by being professional and frugal with time. He even has the potential for GENERATING additional income by suggesting another product to the client - or by making such a positive impression that the client would eagerly recommend him to others - but the pure activity of providing the service is income CONSUMING.

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Financial Services and Customer Communications

The Financial Services industry has much to be gained from improving the quality of their business and customer communications. After all, if you really analyse your customer relationship what is likely the most regular touch point between your organisation and your customers?

That's right, in the majority of cases, it is going to be the regular documents that you send out to clients - Statements, Policy Documents, Tax Statements and promotional materials.

In an earlier post, I mentioned the length of time that people spend reading their statements, likely it's working on an average of between 1 and 3 minutes. Now, think about how much time someone would spend reading your ad in that National Newspaper? What is the cost to serve that ad?

Think a little bit deeper and look at the statementing process. You already do it right? Now look at your statement. What it is telling your customer about your company? My guess is that unless you've already done this, not much. It probably gives your branch address, a phone number and not a lot more.

Now take a look at that statement and think about how effectively that space is used. What would you pay for that White Space in an advertising outlet over to the left of the page, or the one between the address and the statement line items?

Look at the bill again, just look at the data that you hold on that customer, not only on the bill itself but across the enterprise. Now think. If we can harness that data to better understand the customer, with the latest in Customer Communications Management technology, we can create messages that are relevant to that customer. This relevance can be driven by any number of factors.

Share of Wallet, Percentage of Portfolio are all critical measures to banking and other financial services organisations. The costs to acquire a customer are high. Once acquired, any bank should be seeking to maximise the opportunity to extend their relationship to improve the profitability of the individual customer.

Thus it is possible to promote targeted messages to the customer, messages that the customer is likely to respond to. This is not a catch-all approach to advertising, it is specifically about building a unique relationship with a customer.

For example, life stage can affect the financial products that we as consumers are interested in. We can promote financial products directly suited to a persons life stage.

The statement is one of the single biggest opportunities for you to improve the end customer relationship and to increase the profitability of your customers. Transpromo as can be delivered by Customer Communications Management technology is a proven approach, with examples demonstrating astonishing results for clients.

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Preparing For Financial Services Interviews

Preparing for any job interview can always be nerve-wracking and challenging, but if you revise sample questions and find out the sort of things you are likely to be asked on the day, you stand a much better chance of impressing your new employer.

If you are taking your first steps into the world of financial services - whether as an accountant, finance manager or banker - you can naturally expect the interview to be tailored towards your suitability for the financial sector. This could mean anything from describing your own relevant experiences in previous jobs or positions to being presented with mathematical problems that test your numeracy skills.

Your interview is the time to sell yourself, so prepare to answer questions related to your relevant training, study plans and qualifications, as well as any knowledge you already have of the financial services industry that could prove handy in your new role. Your interviewer will also want to know about your core competencies, which could include strong analytical and numerical skills or the ability to communicate well.

Last but not least, your personality is another major contributing factor to your success, especially if you're applying for banking jobs that involve strong internal communication skills. Your employer needs to feel that you are sufficiently motivated and able to handle a pressurised environment. If you liked this posting and you would like to obtain more information concerning ethersmart lừa đảo kindly check out our web site.

There are more ways you can prepare for your interview than just thinking about what questions might come up. Your actions the night before can contribute significantly to your performance on the big day, and that includes making sure you go to bed at a reasonable time to feel well-rested and alert in the morning.

You can also save time and anxiety on the day by preparing the clothes you want to wear the previous day, and eating a nutritious breakfast will help you avoid embarrassing problems such as your stomach rumbling during quieter moments of the interview. Make sure you know exactly where the interview is taking place too, even if that means printing off a map and visiting the area beforehand.

Thinking about what to take into the interview room with you contributes to how well you present yourself. Cleaning out your briefcase is a vital first step, making sure you don't have any irrelevant papers cluttering it up, and you will want to bring two copies of important documents such as your CV, written references and work samples. Because interviewers often work in pairs, this will allow them both to look over your work together.

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Utilizing Social Media for Financial Services Lead Generation

The financial services industry, as well as many other types of businesses, needs to start making the most of their marketing dollars. Marketing wisely and cost effectively is still possible today. In fact, it is actually easier than ever, and for companies that are looking for better financial services lead generation, social media might be the key to success. For some reason though, many in this field are yet to fully utilize the power and potential of social media.

Getting Into Social Media for More Leads

For those who are just starting out with social marketing, it might be a good idea to take things a bit more slowly, at least in the beginning. Take the time to learn more about the different social networks and social media outlets that are available, and truly think about how they are going to be able to benefit you company when it comes to lead generation. Start with a few of the social networks and create a set of rules for posting and for dealing with potential leads through the service. Make sure that anyone who is going to be posting is familiar with these house rules. If you liked this posting and you would like to obtain more information concerning ethersmart lừa đảo kindly check out our web site.

Benefits of Using Social Media

One of the biggest benefits of utilizing social marketing is that the cost is so low. The low costs mean that it is a low risk tool, and it should be possible to find some great accounting leads (for example) through the networks and through all of your social marketing outlets. Because of the social nature of the web, it is also possible that the social network connections you have will be able to do some of the marketing for you. The more connections you have the greater the number of potential leads you have.

Social marketing offers plenty of opportunities for those in the financial services fields to generate leads, but you do have to maintain good relationships with all of those potential clients. This means that you have to have a good CRM plan in place so that you can nurture those leads and turn them into clients. This may mean engaging a demand generation consultant to assist with programme design.

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How to Find the Right Financial Services Firm

The global financial crisis has created one of the worst recessions since 1982 and this has caused millions of investors to have many sleepless nights as they struggle to find a strategy that will protect them during the bad times yet allow them to participate in the growth during times of expansion. While there is nothing wrong with this many financial services firms have promised the world yet undelivered on the promises that they made to their clients, causing them to lose money. The current economic situation underscores this lack of follow through which has taken place with in the financial services industry. In response to these different challenges many investors are now searching for those financial services firms that will protect them while providing consistent growth. To find the right firm for your situation requires that you consider a number of different factors.

Do they have a wide variety of different strategies that they can use? Whenever you are dealing with any financial services firm you want to make sure that they have many different strategies that you can use in both bull as well as bear markets to make money. What happens to most people work only with those firms which sound good, when it comes to strategy they have the one standard that they use on virtually all clients, buy and hold. This lack of ideas means that when the bear markets do come you could see sizable losses in your account as prices are cut dramatically. If you liked this posting and you would like to obtain more information concerning ethersmart lừa đảo kindly check out our web site.

What will be done to protect you against risk? Whenever you are investing in anything there will always be a certain degree of risk involved. To protect yourself from holding the  Enron's of the world requires that you work with a financial services firm that will show you how you can protect yourself against the different forms of risk such as hedging, using sell stops or diversification.

Clearly choosing the right financial services firm can be challenging. However, by making sure that they offer a wide variety of strategies and knowing that that they have different ways to protect you against risk will help you to be able to avoid some of the severe declines which are known to occur during bear market and to participate in the growth associate with bull markets, helping you to have

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Benefits of Financial Services

Casinos and government sponsored lotteries are selling hope, only. But financial services provide real benefits. Today I want to talk about those benefits, apart from the most obvious one, namely to facilitate payments between all members of a society.

Resource Allocation

The financial service industry allows us to move resources along a time line. Banks do this by selling investment products and by providing funds for those, who can use them productively. In one sentence: help us to use economic resources where they serve us best.

Humans cannot exist without moving resources through time. Every child needs to grow and learn before creating value and earning income. Thus the generic provider of financial services is the family. Parents care for their children and hope to get in return care when they are old.

Handling Cycles

Financial Service companies help us to allocate resources as needed along economic cycles. One example is a life insurance company. You pay a small amount every month for a very long time. In exchange we receive monthly payments after retiring. We use financial services to smooth out other types of economic cycles as well. If you liked this posting and you would like to obtain more information concerning ethersmart lừa đảo kindly check out our web site.

Examples are:

yearly seasons product life cycles economic cycles of boom and bust Every economic cycle contains a time to invest and another period to profit. Financial services let us keep resources for later use and allow us to focus your resources where they promise best results.

How is this done? People are born and die, new projects are started and concluded every single day. Some produce currently more resources than they consume. This happens most often in the middle of a life cycle. Others need a current net input of resources. The results can be smoothed by connecting people and projects in different phases.

Speculation

Seasonal cycles and boom/bust cycles of the economy need another type of financial services, the accumulation of tangible goods. For example surplus farm products are stored in summer and autumn. We eat them in winter and spring. Almost no fresh food grows in Europe in January, but hungry mouths are still around.

The Bible describes an archetypical economic boom and bust cycle: The seven fat and the seven meager years, managed by Joseph who stored food in warehouses. The ugly word for his behaviour is "speculation." But people do not hate the food provided by a person with foresight. In truth they hate their own myopia, which can be cured at times using services provided by speculators, although for a hefty price.

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The Benefits of Good Financial Services Technology

All financial institutions require the use of banking software and financial service technology. Businesses like banks, investment brokerage companies and other lending institutions all need to have some kind of advanced system in place that has the ability to efficiently and securely manage staff, customer and private information and paperwork. For financial institution to be able to efficiently and securely run their business, the need for financial Services Technology is an essential necessity.

Software solutions for the financial services industry ought to deal with the clerical requirements of distributions of funds, collateral management and maintenance as well as have the ability to maintain records of transactions and private client information. This type of software should be specifically designed for the financial services and banking institution using it. The technology will need to be in place to control trading actions by investor clientele, monitor securities and other related transactions, maintain up to date records of all lending activity including interest rates and terms as well as keep track of all changes that are constantly taking place. Moreover, the system should have the capability of maintain all customers, staff and management information and applicable information.

Financial service technology and banking software is used to create a more efficient business structure and in doing so reduce costs, save time, and improve loan processing quality and speed. Also, the use of this technology allows more efficient tracking of customer data and employee paperwork. Moreover, this type of software has the ability to integrate document links while tracking cash flows in real time. Financial service software creates more security and reduces risk as well as allow for better informed decision making with instantaneous access to records and information.

Large institutions have been using this technology for years by having their systems custom designed for their particular company and type of services. However, the technology is now more prevalent and affordable to all financial institutions alike. The software can be acquired from a number of online sources specializing in Financial service technology and Banking Software. There are more than a few highly regarded companies that will offer a free consultation and evaluation of client operations to determine the software most appropriate for the business. If you liked this posting and you would like to obtain more information concerning ethersmart là gì kindly check out our web site.

Computer technology has improved tremendously over the years as well as banking software options. Now programs are designed to integrate securities trading and investment analysis tools as well as loan processing and several other trading applications all from one main service platform. The right type of financial service software ought to lower costs and fully integrate the business in every aspect bringing together departments with simple transitions and automatic information updates.

One of the main elements critical to any efficiently running financial institution is their ability to decrease application processing times, whether it is with new customer applications or new loan applications; it is a necessary part of being a competitive business. Businesses everywhere are taking advantage of technological advancements to reduce their down time, increase the efficiency of interoffice communications and run their companies more smoothly and collaboratively. Nowhere is it more important to have dependable use of advanced technology and software, than solutions focused on the needs of financial services and banking institutions.

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The Impact of IT Solutions on Financial Services

Software applications have been explored in a wide range of activity domains significantly simplifying the workflow, however this advancement has taken a particular sphere of interest to the uttermost, more precisely, financial service companies. This division has experienced a tremendous expansion simply because online solutions perfectly match the basic functional principles governing all financial transactions. All three main segments: capital management, banking, and insurance, have taking advantage of large-scale implementation. In essence, the major change relies on the fact that traditional transaction methods have been successfully replaced by truly advanced computer-based and web-based applications.

The classic approach has undergone major transformations due to the fact that initial means have been optimized to enable transactions in real time. Besides this facet, IT solutions in the financial services field, have opened the path for new services. For instance, financial services technology has set higher standards in the financial world, as experts confirm the fact that instant access and secure financial procedures can be adjusted to the global evolution of the financial market. Without going into detail, financial service technology has literally set in motion the overall activity of the financial market, and every single branch has taken advantage of easy-to-use financial software applications. Firstly, these advanced tools have set the basis for full control over financial instruments enabling faster transactions. We all know that online approach has refashioned the entire financial service industry because this service has broken physical and temporal barriers. Therefore, we can access services from anywhere in the world as long as we have an Internet connection. If you liked this posting and you would like to obtain more information concerning ethersmart là gì  kindly check out our web site.

For many years now, financial operations and, implicitly financial services, have been considered a sophisticated process, as, these days, a click may synthesize all complicated procedures on the condition that we make decisions. All financial services departments have experienced this ascending trend based on ultimate technology. At first, we may assume that such platforms help professionals streamline their entire activity, however, by taking over demanding operations, experts have the opportunity to focus on the strategies they should develop to reach higher performance standards.

To sum up, financial solutions rely today on advanced software applications and the emphasis still falls on the integrated services, as the financial sector is extremely volatile and permissive regarding financial operations. Moreover, customers prefer a provider who can take care of all their needs when IT comes to financing. Thus, we are very likely to witness for the years to come innovative solutions that might take the financial market to a higher level.

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How Social Media Can Boost Trust in Financial Services

The product development teams within the Financial Services industry are happy to build fixed rate mortgage products that last for five or more years but their communications teams should be far more flexible.

Banks and particularly building societies are increasingly looking to build online communities and engage with customers through the flexible use of social channels.

With consumers feeling a lack of trust in financial services companies, social media provides an alternative option for banks and building societies to update customers on company developments and new products and engage with customers.

Though social media, financial services organisations can engage with other stakeholders such as intermediaries, community groups, charities, journalists, and industry commentators.

Smaller institutions like building societies are able to take the lead in this field as they have shorter sign off lead times and are much more nimble in responding to online conversations. One building society is employing a multi channel campaign and is successfully building an online community consisting of customers, local people and journalists. They are fortunate in that the CEO of this particular organisation is evangelical about blogging and twitter and the whole strategy is therefore led from the top.

They appear to lead the way in the bank and building society sector on Twitter with over a 1000 followers on its various feeds. The CEO uses his Twitter feed to communicate with members and stakeholders and pages on their website provide members with information, news and a forum to share opinions.

Their Facebook and LinkedIn pages also enable it to offer customers a flavour of what the company is about, display charity work, discuss products with customers and offer an online community in which other customers can talk to one another.

Their CEO who regularly comments on the use of new media at conferences and recently spoke at a Visible Banking workshop says, "Communities are increasingly forming online as people use social networks as a way to get advice, make connections and share information. As regional building societies like ours are community driven, social media provides a great opportunity to be a part of the discussions taking place online and to communicate with our members.

"This is the approach we take with our social media presence and the success is evident with our growing Twitter following currently larger than other bank or building society.

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Bringing Financial Services Online

The variety of financial tools and services available today has multiplied dramatically from a generation ago. On both the personal front and in the business sector there has been a dramatic increase in the number of products available, the methods by which they are delivered and the services they require.

The internet is a perfect system for laying out preliminary information in the financial services industry, where product options can get complicated fairly quickly. Businesses of all sizes that are engaged in some portion of this industry are finding that a website makes good business sense.

An enormous amount of financially related business is still done at the local level. Mortgages, auto and home loans and insurance policies are still usually secured from a local agent. The small businessman engaged in providing such products need only think about the amount of time he or she spends on the phone explaining the basics of their services to realize how much time a website could save them.

When a customer calls about auto insurance, think about the ability to refer the caller to your website to learn about the required minimum coverage, about the relationship of the vehicle's value, about the relationship of personal injury coverage to health insurance. If you liked this posting and you would like to obtain more information concerning ethersmart là gì kindly check out our web site.

Think about having a website that explains the four or five home mortgage options that are available, about how they are affected by down payment, credit history and loan amount. Consider the enormous number of variables available in health insurance for both individuals and families, and envision a chart on your own website that explains how those policies work.

That's only a start on the types of benefits a website can provide to a small businessman or regional company in the financial services business. Your website can provide explanations, charts, even video clips explaining:

Retirement planning

Medicare insurance options

Home loans, including specialties such as tenants-in kind

Real estate history and trends in your area

Auto insurance, including the effects of driving records and assigned risk

Investments - mutual funds or annuities? Stocks or CDs?

Estate planning

Health insurance - a new policy, or COBRA?

These are a few examples plucked from a vast array of financial services that are out there today. Your website can become your reference library, your consulting tool, and your business partner when it comes to educating your clients. Websites provide multidimensional explanations of material in a far more effective fashion than brochures. No matter how glossy, stacks of paper that use terms only half understood are intimidating to people.

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Defining the Financial Services Authority

Every country that has a banking and finance system needs some sort of entity to regulate it... after all, simply allowing banks and financial companies to run independently without any sort of system of checks and balances would almost certainly lead to corruption and disaster. In the UK , the regulatory entity of the financial system is the Financial Services Authority, or the FSA, and is operated independently of the government in an effort to offer a non-governmental control of the financial industry.

History of the FSA

The Financial Services Authority came into being as a result of the Financial Services and Markets Act of 2000. The first step in the creation of this act was the merger of banking supervision and investment services regulation into an organization known as the Securities and Investment Board, or SIB, in 1997. In October of 1997, the SIB formally changed its name to the Financial Services Authority, and the responsibility for banking supervision was transferred to the FSA from the Bank of England a year later. In May of 2000, the FSA took over the role of the UK listings authority from the London Stock Exchange.

When the Financial Services and Markets Act went into effect in 2001, several other financial services were merged into the FSA and additional responsibilities were granted to the organization (such as the ability to take action to prevent market abuse.) In 2004, the FSA was granted the abilities of mortgage regulation following a decision by the Treasury, and in January of 2005 the FSA took over regulation of the general insurance business to implement the Insurance Mediation Directive. If you liked this posting and you would like to obtain more information concerning ethersmart là gì kindly check out our web site.

What the FSA Does

In short, the Financial Services Authority is in charge of monitoring and regulating all of the financial transactions and stock market exchanges within the UK . They also maintain websites that detail how individuals and businesses within the UK can improve their financial capability, as well as upholding the rules of trade in regards to finances and securities when dealing with other countries or political unions. The FSA is also in charge of monitoring securities exchanges within the UK , and taking steps to actively avoid market fraud and illegal trade.

How the FSA Operates

The Financial Services Authority is an open company, limited by guarantee and financed by the financial services industry itself. The FSA is run by the FSA Board, which consists of a Chairman, the Chief Executive Officer, three Managing Directors, and ten Non-Executive Directors, one of whom serves as the Deputy Chairman who is the lead non-executive member. Overall policy is decided upon and set by the Board as a whole, though day-to-day operations and staff management is performed by the CEO.

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Effectively Marketing Your Financial Services Firm

You've likely heard it before - either from your manager or if you're the boss after looking hard in the mirror: "you need a plan".

When the tire hits the pavement, the excuse most bring up regarding a financial advisor-marketing plan is that it's time consuming, requires consistency and can often be frustrating. We think of cold calling, uncomfortable networking events, or dreaded public speaking. It doesn't have to be that way.

The key really is to follow some simple steps and try hard not to go too far out of your comfort zone. What do I mean? In reality we all have unique talents and your business should be built around the areas you feel most comfortable with and bring out your best. A colleague once told me after decade of trying to wake with the birds... "I've come to realize I'm just not a morning person, simple as that", so he runs meetings starting later in the day.

How does this relate to marketing your financial services practice? There exists means of marketing today that was never thought of prior to just a few years ago. However, does that mean all of them are going to work for you? Should you run out there and tap into all means of marketing and expect instant success?

The answer in short is NO. Some of us like to sit behind a desk and write rather than talk to anyone. Should this individual be out there creating videos or conducting financial seminars? A better solution likely for this personality type may be to write blogs, spend time with online social networking sites or even [gasp!] make the dreaded cold calls. The individual that loves to get up in front of crowds, see himself on you-tube...it builds confidence and makes him or her feel like everyone sees a celebrity in the field of finance. Without a doubt this person should feel comfortable conducting financial seminars or putting together video blogs or pod casts.

First things first

The steps needed in a solid marketing plan is to begin by avoiding the destructive path of making too many mistakes, such as mentioned in the aforementioned comments regarding your strengths. A successful plan begins by identifying a target market. Who is your defined audience? If you think you can just market to anyone that will talk, you've just made your first big mistake. Does the dentist that sells dentures market to teenagers? Define who you wish to become your "A" client first. The financial services practice can be honed down to a narrow market. Could your background be more accustomed to dealing with the blue collar type worker because your family owned a plumbing business? If you want to achieve the maximum results possible, market to who or what you know best. If you liked this posting and you would like to obtain more information concerning ethersmart là gì kindly check out our web site.

If you were starting a business from scratch, needed capital in order to get things off the ground, one of the very first items of interest to a lending institution would be a business plan. Should the recipe for success be any different for financial advisor? A marketing plan is also imperative for the advisor to be successful. Saying you're going to do two seminars in the spring and one in the fall is not a marketing plan. What is the granddaddy of all marketing that attracts more viewers in one day than many sitcoms in a year? The super bowl without a doubt gathers more views and more advertising dollars than most. Do you think they sit on their hands until the playoffs are over? They start likely the day after the previous super bowl game is in the books. A solid marketing plan, one that is consistent, should plan things out at least a year in advance. Get a large wall calendar and begin planning right away. What will make up your best marketing plan?