FINANCIAL SERVICES vs. NON-FINANCIAL GOODS AND SERVICES: THIRD-PARTY RELATIONSHIPS

AM | @MackinlayEuruni

Sources. Evelyn Ehrlich & Duke Fanelli. The financial services marketing handbook. Tactics and techniques that produce results. Bloomberg, 2012, introduction.
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"Because money is so personal, relationships become very important in some areas of financial services — particularly investments. Consumers don't necessarily buy a brand (Morgan Stanley) so much as they do an individual (my stockbroker). For the marketer, the fact that the customer has a relationship with a financial intermediary is a double edged-sword. On the one hand, customer loyalty tends to be very high. On the other hand, today's Morgan Stanley's executive may be tomorrow's Merrill Lynch's sales executive — and his or her clients will generally follow along. Thus, the marketer's task is as much to sell to the intermediary as it is to sell to the end user" (p. 7).

[REAL-LIFE CASE: LALO Z., FINANCIAL ADVISOR]

[DOCUMENT: LOOK AT JPMORGAN FUNDS'S SALES CENTER. QUESTION: WHOM DO THEY SELL TO?]
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