A Revolution in Financial Services: Directions for the Future

Gourgues Jr., Harold W.; Lauterbach, Jeffrey R.
May 2004
Journal of Financial Planning;May2004, Vol. 17 Issue 5, p72
Academic Journal
The section reprints the article "A Revolution in Financial Services: Directions for the Future," which appeared in the Winter 1987 issue of the "Journal of Financial Planning." Nuclear service is a form of most financial services companies. This characterizes many of the newer, more successful manufacturing and distribution firms in the industry and is basic to advisory/planning firms. Nuclear service companies, with some exceptions, are single-function entities; that is, their activities are limited to manufacturing, distribution, or advisory/planning service. This does not mean, however, that they operate in a vacuum. On the contrary, nuclear service firms reach out above and below themselves in the overall financial services process. Another way of looking at the financial services array is as a series of interfaces that filter and refine information flowing in both directions. Indeed, it is the free flow of information back and forth through what is basically a linear process that provides the opportunity for vitality if these firms can manage and utilize that information. There are two main interfaces, but in the evolving world of financial services, there are third and a fourth. Regardless of how the interfaces are defined, their effectiveness depends on the quality of information available.


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