The implicit assumption is that a lawyer is schooled in and understands the law and the process behind it, and works toward protecting their clients’ interests, providing value for their service.
Public relations is arguably similar: schooled in the world of media
and trained in the court of public opinion, public relations professionals provide service and expertise on everything from how to
get a message out about a new product or service (think Apple) to
how to navigate and fight back when the court of public opinion
has already rendered judgement (think United Airlines).
Of course, navigating the legal world and the media world are two
very different things. Yet few opt to navigate the legal system without representation. Indeed, explaining why one doesn’t step into the
courtroom without a lawyer remains much easier to explain to a
company or individual than why handling their own public relations
isn’t necessarily the most prudent course of action.
The financial services world, and the capital markets realm in
particular, typically has placed PR pretty far down on the “might
consider having” list. And for seemingly good reason: In a world
where returns generally speak for themselves and relationships are
everything, standing on a soap box touting one’s brand, expertise
and capabilities is somewhat de rigueur – it’s simply not how things
Or is it?
A quick flip through the top fold of the daily newspapers, or a stroll
through Toronto’s underground PATH network, literally assaults
one’s senses with ads from various financial services firms. From
banks to mutual fund companies to ETF providers and others, smiling, happy, retired couples aided by maps, compasses, lighthouses
and other guiding metaphors abound – replete with little asterisks
and fine print noting in legalese that, “Past performance does not
guarantee future results.”
Private Capital Markets Association
Why Private Capital Markets Need Public Relations
By M. Corey Goldman