Lack of confidence 'impacting financial service sector'

By John Oak

A lack of confidence is the largest factor which is slowing cash flow in the financial services sector, those in sales jobs may be interested to discover.

Lord Peter Mandelson, business secretary, claims that people have been oblivious to the extent to which the economy relies on this but highlights the special importance it plays to this industry.

He says that the restoration of confidence will be enacted by increasing transparency in the sector and identifying the problems that badly-understood products can present.

"Ultimately we all need to make sure that the financial services sector remains what it must be, which is the irreplaceable facilitator and backbone of the real economy," he asserts.

Lord Mandelson highlights the importance of improving confidence across the economy as a whole, as it is crucial to enabling the economy to exit the recession.

In other news, 01zero-one's Alec McPhedran has highlighted the importance of sales managers giving workers a clear sense of the company's direction during the financial downturn.

As a recruitment provider to many of the UK's major banks, mortgage lenders and building societies Aaron Wallis have a deserved reputation within Financial Services recruitment. Their dedicated FS consultants recruit sales professionals across Retail Banking and Financial Services including IFA's and Mortgage Broking.

Filed: 06-05-2009