Advisers are rethinking the words they use with clients to avoid off-putting terms that can sound a little less than human.
For example, the term “risk tolerance” is giving way to “comfort level.” “Financial freedom” is also passé, especially after the 2008-2009 financial crisis. Now, it’s better to use “financial security.”
Thank Invesco Ltd, for the impetus. The investment giant’s consulting arm hired maslansky + partners, a global marketing strategist, in 2007 to do for Invesco’s wholesaling business and ultimately, the financial services industry, what maslansky once did for conservative politicians. It was maslansky’s co-founder, Dr. Frank Luntz, who morphed the phrase “estate tax” into a more unappealing “death tax.”
Maslansky’s trademark: “It’s not what you say, it’s what they hear.”
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