Aug 20, 2026 · 36 min · 13 segments
In this episode of The Purposeful Strategist, Belden Menkus speaks with David Hynam, CEO of LV= about leading a financial mutual with no shareholders, over a million members, and a purpose that dates…
David HynamGuest
Belden MenkusHost
When you're talking about the wealth offering, I think you use the word leading.
And that's a word that I've heard lots of people use in lots of different ways.
What does it mean for you? I think being the biggest is never going to be what we are here.
And to be a leader, I think, in scale, you need to be in a very wide range of markets.
For me, what leading is about is making sure that we're listening to advisors, listening to members, listening to customers, and making sure the proposition we offer is as good as it can be for what they want.
So I'm kind of getting that best, at least the way you're leading, the way you're describing it is we're the closest to what people actually really want.
One other thing, maybe a bit slightly off-piste, but you talked about sort of customer service.
Just curious, do you, you know, are you using any external benchmarks or, you know, things like the Institute of Customer Services or whatever, you know, are you using things like that to help you know that it's not just us believing our own rhetoric, but actually there's independent advice, independent evaluation?
We do a lot of research where we ask customers to give us feedback and we do that after every transaction that we have with customers who contact us by phone, for example.
But we also do a lot of benchmarking externally and we get a lot of feedback from advisors because being largely intermediated, of course, advisors are very happy to tell you what service offer is like from competitors.
When you're talking about the wealth offering, I think you use the word leading.
And that's a word that I've heard lots of people use in lots of different ways.
What does it mean for you? I think being the biggest is never going to be what we are here.
And to be a leader, I think, in scale, you need to be in a very wide range of markets.
For me, what leading is about is making sure that we're listening to advisors, listening to members, listening to customers, and making sure the proposition we offer is as good as it can be for what they want.
So I'm kind of getting that best, at least the way you're leading, the way you're describing it is we're the closest to what people actually really want.
One other thing, maybe a bit slightly off-piste, but you talked about sort of customer service.
Just curious, do you, you know, are you using any external benchmarks or, you know, things like the Institute of Customer Services or whatever, you know, are you using things like that to help you know that it's not just us believing our own rhetoric, but actually there's independent advice, independent evaluation?
We do a lot of research where we ask customers to give us feedback and we do that after every transaction that we have with customers who contact us by phone, for example.
But we also do a lot of benchmarking externally and we get a lot of feedback from advisors because being largely intermediated, of course, advisors are very happy to tell you what service offer is like from competitors.
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