From the course: Selling into Industries: Financial Services
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The money loop
From the course: Selling into Industries: Financial Services
The money loop
- This is Sally. After paying taxes and her bills, she has some money left over. And there's a few different paths that money can take in the financial services industry. First, Sally can keep all of her money and just get some advice. This advice might come from an accountant, a wealth advisor, or a financial planner. Sometimes these people charge a flat fee and sometimes they charge a percentage. Sally can also choose to invest her money. Sally could find a broker to help her choose some stocks, bonds, or mutual funds. Sometimes, banks have an investment branch where their customers can get advice on investing. Either way, Sally will probably pay a percentage of what she invest or a percentage on what she earns. Or, Sally could put all her money in a checking or savings account, most likely with a bank or a credit union. Either of these options means Sally is in control of her money and that it's easily accessible. Sally can also get money from a bank or a credit union in the form…
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