In the race to rebrand, go digital, attract private equity, embrace artificial intelligence, adopt ESG - and all the other modern trends - it’s often forgotten that what really matters to most clients is for their provider or adviser to be around for the long term.

I was reminded of this with, to my mind, an impressive story of the CEO of the Cirencester Friendly Society, an income protection provider.

Some may sneer but Paul Hudson has been at the helm of the Cirencester for some 26 years, an incredible achievement when you consider that Aviva has got through too many CEOs to count over the past 10 years.

This week he announced he would be retiring in 2023, yes 2023. Not 'with immediate effect', not next Monday to do six months of gardening leave but in more less 18 months' time, allowing for a smooth transition to a new CEO. Continuity in a word.

Now the Cirencester is not the biggest provider in the UK by a long stretch but its policy of slow and steady growth over his term and sticking to its knitting has paid dividends. During his tenure he has more than tripled membership to more than 43,000 and while the company has added new products it broadly does what it did back when he started.

This is surely a lesson to much bigger providers who seem increasingly hell-bent on rapid growth, launching new brands and broadly playing a game of risky one-upmanship, desperate for a quick result with the latest venture.

I’m not saying innovation and new ventures are not a good idea, they certainly are, but I’ve lost count of the number of financial brands which have been dropped or ‘merged away’ over the last 20 years as the focus has been on acquisitions, new launches and rebrands.

If you have a bored moment try listing some of the financial brands that have disappeared over the past two decades. It's a long list. Even the mighty Standard Life is not immune from this and don’t get me started on Abrdn.

My point here is that the financial sector should be all about longevity, long term relationships and trust. It is long-term and boring, not a cover for taking huge risks with investors' money by launching one dud venture after another. How many millions have been wasted on abysmal ventures and products over the years?

Investors who trust their life savings and long term life insurance want to know they are dealing with bricks and mortar, real companies who plan to be around for the long term, not virtual marketing machines who see their role as to launch a new brand or product as often as they can.

The same is true of Financial Planning where long-term relationships are not only the most profitable but also the most satisfying for planners. Planners understand the importance of having a long-term, trusted name.

Far too many investment and financial providers are just not committed to this long-term approach, preferring the desperate pursuit of rapid profits or selling out quickly to private equity. This might be good for shareholders but it is not good news for customers.

The lesson here is that most consumers want is ‘slow and steady’ not ‘what is my provider called this this week?’. Ditching old fashioned values for the sake of a brand relaunch may make the marketing and PR agencies rich but it’s the opposite of good financial husbandry. Ultimately what financial firms sell is peace of mind and being around for the long term is part of that.