e offers are so complex that by making minor changes in the presentation of the offer, one could make many otherwise unattractive products look highly attractive. This can be a highly problematic concern from both an ethical and regulatory perspective.
2.2 Financial Services
us give some examples of the actual financial services in order to simply understand why promotion in this sphere should be delicate and peculiar. Since there are certain limitations to the number of pages of this project, let us narrow the scope of examination and simply refer to some examples of the financial services (products) that financial consultancies provide. Let us take a look at the most interesting and beneficial services that international financial brokerages may offer to its clients: Fee Planning: costs have been on the rise for years. This tendency is unlikely to change in the near future. Still, the importance of the educational process and its resulting benefits has not diminished and higher education is a must for those who want to be successful in the future. In this case, financial advisors persuade their clients by depicting the lives of their children with and without higher education and with and without their help. The earlier the start, the more efficient their saving will be as parents guarantee their young ones the best gift they could ever give them.Pension (Retirement) Planning: abroad and becoming an expatriate businessperson opens up a number of investment opportunities, which would otherwise remain out of reach for such people. This is one of the reasons why engaging in an international retirement plan is becoming increasingly popular amongst those people who think about their life when they stop working. Many international financial advisories promote this very service and the idea that thinking about your future pension is crucial. Using psychology, making them reflect on their current situation, calculate what they have at the present moment and comparing that against their needs in the future is a powerful tool when promoting your financial products, and reaching out for new clients.Saving Plans: regular savings plan is an option for a customer to invest a certain amount of money on a monthly basis and accumulate it over a certain period of time (example: 1 000 $ a month over 15 years) and with an interest earned in the process. This type of the financial service is one of the most popular among the clients as it is considered to be one of the most reliable means of saving money for whatever the reason.given services are a tiny part of what financial services companies truly offer and were given merely to illustrate the nature of what clients usually get, should they engage in the financial services interaction.
2.3 Financial Promotion
first aspect that should be noted is that the terms financial promotion and promotion in financial services are different things and encompass different activities. Unlike promotion in financial services, which includes the implementation of the promotional mix and marketing activities for selling financial services, financial promotions can be defined as an invitation or inducement to engage in investment activity, communicated by a person in the course of business . Certain restrictions can be applied to any form of interaction (communication), both written and oral, meaning that there are certain limits and stipulations when it comes to promotional activities in the sphere of financial services, due to the subtle nature of the very process. To engage in financial promotions, companies must either be authorized to issue or approve a financial promotion or use an exclusion available for the particular promotion. Some of the exclusions can only be used by a DPB licensed firm as described below.promotions are a complex area. The Financial Services and Markets Act 2 000 (Financial Promotion) Order +2005 (SI +2005 No тисячу п'ятсот двадцять дев'ять) (FPO) defines the controlled activities and controlled investments for the purposes of section 21 of the Act. It also contains a large number of exemptions and only those of particular interest to unauthorised firms (ie firms not authorised by the FSA) are discussed here. If a firm is unsure about any promotion it is making, it should seek external advice.Financial Promotions Order, an act that controls and establishes regulations for financial promotions, includes a number of specific terms that describe the process of communication. The types described in the table below are integral when it comes to understanding the financial promotion regime and are described in the following table.
Real TimeTelephone calls (cold calls and warm calls), personal meetings, visits.Non-real timeAdvertisement letters and promotional e-mail letters, websites, broc...
