Articles by Paul Leavell
Paul Leavell, strategic advisor
In 2006, Paul Leavell came to RFG as a Strategic Advisor bringing with him more than nine years of financial-services experience. Immediately prior to joining RFG, he served as the Retail Reporting Manager for Colonial Bank. As the bank's MCIF business owner, he was responsible for board reporting and portfolio, marketing, and sales analysis. Paul holds a BA from Ambassador University and an MBA from Queens University of Charlotte.
I was digging through some research this week on rewards programs. I found something interesting relative to the psychography of all (FI) rewards-program users. Through survey data, we separate consumers into Technology Conscious, Price Conscious, …
If this bank could have interjected itself into my decision-making process along the way, it could have potentially saved my relationship with the bank. To make no effort to do so bothers me from a consulting standpoint. So, let’s look at my behavior during my attrition from the institution, because I doubt it’s uncommon.
What is the first question one should ask when approaching deposit pricing? It’s “Do we need the money?” Actually, you shouldn’t simply ask if you need the money — you should ask what type of deposits you need.
Relationships are complicated. The dynamics of give-and-take can be confusing. How much to give? How much to take? Creating balance in any relationship is important.
No, you haven’t accidently linked to a personal advice blog – I assure you I’m talking about relationships between consumers and financial institutions. Interpersonal relationships are much more complex and beyond my area of expertise.
The cumulonimbus formed over the financial services industry has sent many of your competitors to seek shelter. Formerly ‘tough’ institutions are having a tough time getting going. Sadly, many well-capitalized, financially-sound institutions are following suit, waiting out the storm in a safe, dry place. But, I would argue that now is precisely the right time to capitalize on opportunities to grow market share. Institutions that have the gumption to start singing in the rain, really should.
“Polite as possible, tough as necessary.” This philosophy was pounded into my head when I cut my teeth in financial services as a collections representative. I gained plenty of experience balancing the polite and tough approach, having worked with customers delinquent in mortgages, cards, consumer loans and autos.
“I ain’t paying bonuses to anyone for just doing their job!” could be overheard from many executive-level meetings when someone bravely suggests the idea of sales incentives for the first time. The concept can be a lightning rod in many organizations.