Abby Salameh, Chief Marketing Officer, Kais & Head of CAIS IQ.
People with financial literacy have a distinct advantage. The continual acquisition of knowledge benefits all of us, including those just beginning their journey in financial life and those of us who are “practitioners” within our industry. As with all aspects of , the more you learn, the more you benefit.
Financial literacy continues to be an important social issue that can affect people at all levels in different ways. And, as the National Financial Educators Council (NFEC) recently showed, these implications are very real. In a startling statistic, the NFEC has revealed that financial literacy cost Americans more than her $352 billion in 2021, based on survey respondents’ own estimates. .
This highlights why it is important for our industry to provide people with the resources they need to make smart financial decisions and help them achieve financial health. Communication plays a vital role in this industry. Educating prospects and clients about financial literacy helps support the company’s growth and sustainability goals. I believe it is our responsibility to invest time and resources to lead these initiatives.
Financial literacy within the industry
Ironically, the financial services industry itself can often be a barrier to financial literacy in this country. There seems to be a constant reliance on jargon and poorly explained complex strategies in the pursuit of wealth among industry professionals. I often hear about private investors investing in products and solutions that they simply don’t understand. This situation is of concern to me and may be of interest to all of us.
As an industry, we need to be part of the solution. More specifically, us communications and marketing executives can be at the tip of the spear. Efforts should be made to provide robust financial literacy programs for all intended audiences.
As we have established, financial literacy comes in all shapes and sizes, and people can need it at every stage of their lives. Providing financial advisors with helpful resources is critical to our work. With that goal in mind, we have developed a platform to provide alternative investment education, systematically building knowledge, boosting confidence and enhancing communication skills of the financial advisors we serve. Did.
Call to Action for Communicators
Our platform examples inspire us to think about what we can do as communications executives to imbue the industry with knowledge that may have the potential to help us carry out our responsibilities as financial professionals. Most importantly, our internal team needs to be trained on topics relevant to our company and industry. Our marketing must reflect and articulate our knowledge and provide value beyond increasing brand awareness.
Sharing industry knowledge and experience is important, especially when it comes to financial services. The communications team should regularly participate in industry conferences and community-based financial empowerment organizations. Participating in panels and making public appearances are both excellent tactics for imparting knowledge to a wide audience. If more of us take these steps to advance the greater goal of financial literacy and help more people pursue their financial goals wisely, it could be the greatest victory of all. there is.
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