Beyond Feedback Orientation: Exploring the Quality of the Feedback Environment in Financial Services Sales.

Due to the complexity and inherent risk associated with financial services decisions, many consumers seek advice and guidance from sales advisors and even delegate responsibility for decision making to them. The performance of financial services salespeople is therefore of critical importance to their clients in securing appropriate financial decisions and outcomes. Whilst different models of sales advising exist, many sales advisors work separately and at a distance from the firm, leading to a common perception of the financial services advisor as one of “lone ranger.” Monitoring the direct performance of advisors is thus difficult, if not impossible; a key factor leading to the blame of advisors following the recent financial crisis. Set against this context, this paper focuses on the role of feedback as a key factor impacting a financial advisor’s effectiveness and performance, specifically the extent of sales advisors’ feedback orientation.