Thirty to 40 years ago, most financial decisions were fairly simple.
Fifty years ago wealth was stored and transmitted physically through gold bars, stock certificates, bank notes, and coins.
Before 1980, it was basically illegal for U.S. banks to invent new products.
So I think instead of focusing on the competition, focus on the customer.
Even the once simple home mortgage now has so many flavors and styles and variations that it is difficult for people to make a decision.
A brand is no longer what we tell the consumer it is - it is what consumers tell each other it is.