Insights | 10.17.22
Profiting With a Purpose: 5 Questions to Ask Yourself
The following is an extension of the “Profiting With a Purpose” article featured in the 2022 issue of “Portfolio” magazine – an exclusive benefit for BISA members.
Purpose-driven conversations in the financial services industry have moved from neat to necessary — with 41% of wealth and asset management firms believing clients expect them to be knowledgeable on social impact investing and to offer ESG products and services, according to “Wealth and asset management 4.0,” a report published in November 2021 by Deloitte Digital and ESI ThoughtLab.
As you consider ways to attract and retain business from purpose-driven investors and establish your company as a corporate citizen, ask yourself these five questions:
- How can you better align your company’s brand and purpose to benefit your clients and the community at large?
- Which affinity groups can your brand authentically serve better?
- Where do your values most intersect with your current and target clients, and where do they misalign?
- How can you implement features and rewards that align with customers’ values?
- How can you leverage your digital platform to offer diversified non-banking products desired by clients?
Have a great case study about how your organization is advancing purpose-driven initiatives? Email firstname.lastname@example.org to have your story shared with the BISA community.
Hear From Industry Experts on BISA’s Two Podcasts About DEI and ESG
- Episode 8 of the “BISA Portfolio Podcast” features Kevin Beard, chief growth officer at Atria Wealth Solutions, and Jim Nickens, president of InSource, Inc. and executive vice president of USAnnuity Partners. Both guests are members of BISA's Diversity, Equity and Inclusion (DEI) Committee. In the two-part episode, they discuss executive buy-in and commitment to DEI, examples of leaders in the financial services industry who have advanced DEI initiatives and more.
- Episode 21 of the “BISA Industry TrendWatch” podcast includes an interesting discussion about ESG between Cheryl Sutter, a leading advisor at American National Bank of Texas, and Jacinda Norvell, senior managing director at Truist Wealth. The monthly podcast features financial industry leaders discussing strategies to increase performance and capitalize on trends.
Read the full story behind the “Profiting With a Purpose” in the 2022 issue of “Portfolio” magazine – a BISA member-only publication.
Not a member? Join today. BISA is the leading financial services industry association dedicated to serving those responsible for the marketing, sales and distribution of securities, insurance, and other financial products and advisory services through the bank channel.