There’s been a lot of talk recently about the fiduciary standard for financial planners becoming law in 2017. So much so that John Oliver even delved into the topic recently to show just how confusing the whole process is. That got me thinking: What would a fiduciary standard look like if it applied to advertising agencies and marketing consultants?
To be clear, a fiduciary standard is a guideline means that the person or agency performing a service on behalf of a client needs to act in the client’s best interest. Sounds simple, right? Not so much. In the case of financial advisors, they often push products and services that have much higher fees so that they can reap the rewards in higher commissions, essentially dooming their clients’ finances.
You have no idea how often agencies, especially smaller ones, engage in similar behavior. High hidden management fees. Accounts being held hostage. More expensive media plans than necessary, with payment on the backend from the media receiving the placement. It happens every day. How do we get agencies to look out for their clients, as opposed to looking for ways to make a quick extra buck? Read More
So why would I leave a well-established marketing company VP job to start my own agency with such an outlandish name? Because Proof Matters.