Wednesday, May 4, 2011

"Finglish."


“Finglish.”

Question: What should financial advisers do to help their clients?

Answer: Speak plain English; don’t use financial jargon.

Quote: “Too often, when an adviser or some other pro talks to an investor, the result is glazed eyes and shuffling feet. And ‘finglish’ is to blame, says Scott West, head of consulting at Invesco Van Kampen Consulting, a unit of fund manager Invesco Ltd. There's too big of a gap between financial jargon and what normal people speak.”

Quote: “Investors hate jargon and technical language.”

Quote: “William Lutz, professor emeritus at Rutgers University and a co-author of the Securities and Exchange Commission's Plain English Handbook for the finance industry, concurs with the advice. ‘Put yourself in the other person's place,’ he urges. ‘I don't think financial people do that.’ Too often, he says, ‘what they're trying to do is impress, not to communicate.’ ”

Comment: Another way of putting it is “financespeak, ” another form of “doublespeak,” that has its purpose to hide the real meaning behind incomprehensible or confusing terminology. See the original article for examples of “finglish.” RayS.

Title: “A Tip for Financial Advisers: When Possible, Use  English.” Brett Arends. Wall Street Journal (May 3, 2011) Internet.

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