Patricia Sherlock

“People determine the performance capacity of an organization. — Peter Drucker Many large financial institutions invest untold millions advertising their company brands. While publicizing a company logo and tagline tells prospects something about your company, what really defines a brand for customers is the quality of their interaction with the sales person. Every encounter a […]

“What matters in any system is the performance of the whole.” — Peter Drucker Every financial firm wants to improve sales but not every company has the necessary components in place to do so. In my experience, there are three fundamental elements needed for better sales results. First, sales professionals must possess good character. Customers

“The spirit of an organization is created from the top.” — Peter Drucker In the past few weeks, I have visited some large mortgage banking firms and it strikes me how many senior management teams have lost their enthusiasm for the business. While it is understandable that the industry has been in a major correction

“Continuous improvements in any area eventually transform the operation.” — Peter Drucker Let’s face it. No matter how well you run your sales organization, sometimes problems seem to come out of the blue: Your top producer decides to quit or retire, the market dips, underwriting standards change and the list goes on. When problems arise,

“The proof of the sincerity and seriousness of management is uncompromising emphasis on integrity of character.” — Peter Drucker Everyone knows high integrity is essential for success in financial services but few companies have practices and processes in place to ensure they’re hiring quality sales professionals. Sure, most firms use background checks and the majority

“No organization can do better than the people it has.” — Peter Drucker According to the just-released 17th Annual Bank Executive Survey conducted by Grant Thornton LLP, 82% of those surveyed said the number of people their bank employs will either increase or stay the same in the next six months. While this may be

“The customer is the foundation of a business and keeps it in existence.” — Peter Drucker Surveys and ratings in our industry may come and go but none are more powerful than those coming directly from the customer. In the just-released J.D. Power customer satisfaction survey for 2009, it is no coincidence that the top-rated

“Find out what needs your customers want fulfilled today. Then determine how well you are meeting those needs.” — Peter Drucker The annual J.D. Power customer satisfaction survey results are in and as usual, there are important insights to be derived from firms in the top positions. The Number 1 rated company in the study

“All organizations need a discipline that makes them face up to reality.” — Peter Drucker In my experience, companies attempt to correct sales problems by either adding more salespeople, training the sales staff or demanding better leads from marketing. While these solutions work at times, just as often they will not be successful because the

“The responsible worker has a personal commitment to getting results.” — Peter Drucker As the financial landscape continues to shift, big banks have certainly capitalized on market share but the bigger story I’m hearing is about the astonishingly poor customer service levels delivered by some of the industry’s major players. Financial companies who ignore or