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Should it sell people what they think they want, or should it offer them the conservative investments that may be more appropriate for their future needs?During the late 1990s, many fund managers decided to put their own business interests first and pushed products they knew would sell, whether or not they would turn out to make money for their customers.
Richard G. Ketchum, the chief executive of Finra, said there had long been problems with how brokers disclosed their conflicts and how they pushed products "and whether they push products because they have an employee incentive or if it's a proprietary product".
Celebrities have effectively pushed products in commercials without tarnishing their brand for decades.
In 1979 he became the international marketing director for Germany's Blendax (later acquired by Procter & Gamble), where he pushed products like toothpaste, skin creams and shampoo.
Similar(56)
We don't push products.
Instead of pushing products, the broker was there to push advice.
What really matters, he now believes, is pushing products and managing risk.
A lot of private banking has not been about advice but about pushing products.
"Previously we used editorial that was very commercial – trying to push products too much.
Instead of pushing products on to customers, companies were being pulled by customer needs.
Young buyers, they realized, are used to the Apple store, where salespeople do not push products.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com