Don't dismiss your firm's disclosure, they matter. Here's why.
Updated: Mar 2, 2022
It’s easy to dismiss your firm’s disclosure as just so much boilerplate. Yet a study published by the International Journal of Consumer Studies noted a statistically significant difference between how financial professionals with advice related titles (Financial Advisor, Wealth Management Advisor) were perceived—with a significantly differentiated “duty of care” expectation--versus those with sales-related titles (Insurance Agent, Stock Broker).
While this finding seems largely intuitive and expected, the study showed even more distinction in consumer perceptions based on the disclosure language provided by the professional in question. In a world where we often ignore or gloss over the fine print, it’s worth taking a look to make sure your firm’s disclosure language is setting the right tone and sending the right message regarding your role and what clients can, and should not, expect.
Christy Charise, Founder & CEO of Strategic Advisor