National Ethics Bureau Highlights Top Reasons to Engage in Ethical Business Practices in Financial Services Industry.
Membership organization of background-checked financial professionals urges industry to leverage the business benefits of ethical conduct, especially during Ethics Awareness Month. |
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SAN DIEGO, CA, March 5, 2008—Some financial professionals still believe that nice people finish last. They think that that embracing ethics—or doing the right thing for their clients 100 percent of the time—will limit their options, opportunities, and ability to succeed in business. Nothing could be further from the truth.
According to the Ethics Resource Center in Washington, D.C., business professionals who are dedicated to doing the right thing and acting on it consistently are more profitable than those who don’t.
To help financial professionals refocus on ethics during March 2008—the American College’s Ethics Awareness Month—NEB is republishing its list of the top 10 reasons to practice good ethics.
- Ethics Builds Client Trust. Trust is the foundation of all good (and lasting) relationships.
- Ethics Earns Respect from Other Professionals. Referrals from CPA’s, Attorneys and other Financial Advisors are gold.
- Ethics Promotes Customer Loyalty. Renewal premiums and repeat business come from satisfied clients.
- Ethics Promotes Customer Referrals. Strong leads come from satisfied clients recommending you to their friends.
- Ethics Significantly Reduces Client Lawsuits. Bending and breaking the law leads to litigation, indictments, and added stress.
- Ethics Prevents Bad Publicity. A strong reputation can takes years to develop, but can be ruined in an instant.
- Ethics Helps Maintains Regulatory Freedom. Irresponsible sales practices lead to added regulation and bureaucratic red tape.
- Ethics Promotes Personal Pride. Knowing that you do the right thing produces a confidence and pride that can’t be beat.
- Ethics Makes You Happy. True happiness comes from knowing you are a person of absolute integrity.
- Ethics Improves Your Financial Prospects. Prospects who trust you are likely to become clients. And clients who continue to trust you will generate multiple sales and referrals.
“As we enter Ethics Awareness Month, we encourage all financial professionals to recommit to ethics and integrity,” says Steven R. McCarty, Chairman, National Ethics Bureau. “It’s not only the right thing to do, it’s good for business.”
About National Ethics Bureau:
The National Ethics Bureau™ (NEB) is a leading advocate for business ethics in the financial services industry. NEB promotes ethical business practices through its trade-magazine columns, conference presentations, monthly newsletter, and website content. It also maintains a membership community of background-checked advisors who have agreed to uphold its principles and membership standards.
NEB also sponsors related services such as Preferred Risk E&O insurance and state-approved ethics and compliance continuing education courses for licensed insurance agents and securities brokers.
For the general public, NEB provides the ability to purchase a background check on any financial professional prior to doing business.
NEB is not a financial designation, nor does it endorse any products or services offered by its members or sponsors.
For more information, visit www.ethicscheck.com.
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