Watching the Royal Commission hearings and the many stories of individual suffering and hardship continually reminds me of what one senior executive said to me some 35 years ago when I first joined the finance industry: “Never forget the client. He or she is the fundamental basis for our business. Treat them well and our business will do well”.
These words are as true today as they were then. In fact, they are the basis for how the human race has successfully traded within and across its societies for millennia. No business or enterprise ever survived from mistreating its clients or selling them dodgy products or goods. We should not have needed a Royal Commission or indeed laws and regulations to remind us of this. Sadly though it appears we have had to – to reinforce in the most dramatic and sad terms the importance of both behaviour and the lessons from history regarding clients.