There is a perception that it is only the customers who benefit from customized financial products. However, Fortress Investment Group, one of the leading financial organizations in the industry demonstrates that the company also benefits immensely from offering tailor-made financial investment tools. Randal Nardone, who is an executive leader at Fortress discusses the benefits of providing products that meet the tastes and preferences of the consumers.
According to Randal Nardone, a company that provides personalized products gets an opportunity to charge a premium. It is common knowledge that products that meet the properties of a particular individual are always expensive as compared to the products that have been generalized to meet the interests of every person in the industry. Fortress Investment Group has, therefore, been selling its customized products at a higher market rate than other products provided by other entities in the industry and more
Randal Nardone records that there is an obvious benefit of getting a large number of customers, especially in situations where a company is geared towards selling customized products. Most of the customers are interested in getting investment tools that exemplify their characteristics and which will fit into their investment portfolio. Therefore, providing an opportunity where a customer will dictate about the product or service that he or she gets is a bonus that attracts a significant number of customers to the company.
The other benefit that a company gets from providing customized financial services is that customers will be responsible and accountable, especially when the products experience negative results. Randal Nardone is experienced enough to understand that most organizations, especially those working in the financial industry are always criticized when particular assets suffer losses. This is a significant benefit that any other organization working in the financial sector would like to get.
Lastly, Randal Nardone appreciates the fact that Fortress Investment Group will not be solely responsible for developing financial products or services to sell to customers. Those people interested in various financial products will have to visit the organization and discuss the products they want to get. This means that the company will get a chance to make its services efficient and less costly.