Financial wellness and the better bank

Are you missing a growth opportunity?

Imagine this scene: As customers walk into your branch or call in for help, your staff has been trained to think, “I wonder what pain, dream, or goal this person has today and for the future? My job as a financial coach is to find out.” Imagine how this would radically change the conversation, create loyalty and impact share of wallet.

In case you haven’t noticed, there’s a growing movement in the financial services industry to improve customers’ financial health—not just sell them something. Not only is this a higher level of service but in the digital age, we predict improving consumers’ financial well-being will be an essential to differentiate your bank and create a competitive advantage.

Doctors improve physical health—bankers must improve financial health.

I had an “aha moment” while sitting in the waiting area for a doctor appointment. My doctor’s job is to ask really good questions, diagnose my ailment and offer the best remedy to restore my health. She’s a health partner in my life journey and I take her advice most of the time. It’s really that simple. Then I thought, “So why is there a scarcity of bankers who place a priority on the simple concept of helping customers improve their financial health?”

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