In light of what we’ve seen happening with banks over the past few weeks, many people ask themselves who they can trust and who can’t.
If you’re as lucky as I am, you have a close inner circle of family and friends who you know will protect your interests and come to your aid if you ever need it, with no ulterior motive.
But the further outside one gets from their inner circle, the more challenging this becomes. Some people are not friends or family who we have to trust. People whose services we need.
As I’ve long said, companies are made up of people, and it’s the integrity and ethical culture of the people who define the company. Regardless of how much money is raised, a company’s intrinsic value is found in its people.
And even if there’s supposed to be stringent industry oversight, an immoral or incompetent leader will eventually trickle down through the ranks and affect the business and relationship between the company and its clients.
There are too many recent examples of rogue leaders destroying “trusted” brands.
It seems straightforward that one should expect to be able to deposit money in a bank and know that it will be there when one needs it. But that isn’t the case. You may like and trust your financial advisor, but what happens if the CEO is incompetent? The truth is that not everyone in the chain of your transaction is trustworthy.
When we hire an advisor or a consultant, we assume they would have our best interests at heart. This may be true of our direct relationship, but what happens if the leadership of the company your agent works for has a different agenda and different interests?
In a lot of circumstances, this can trickle down and have a significant indirect impact on your interests.
So who can we trust?
As a consumer, we need to start looking beyond our primary contact with essential relationships for the things we find important. Our due diligence should go deeper than the person we interact with.
If you’re depositing money, getting a mortgage, buying a car, consuming food, seeing a doctor, or buying a home – you need to ask yourself –
Who is at the helm? Are their interests aligned with mine? Can I trust them?
Sidebar:
My book of the week has been recommended to me by many people at different times – and for good reason. “Four Thousand Weeks – Time Management for Mortals”, by Oliver Burkman is not a self-help book. It’s an insightful look at time and how we spend it. It’s a must-read, and one of those books that could change the way you look at your life.
Let’s do this.
-Shaun