This weekend, for the first time since 1998, Eurovision will be taking place in the UK. While thousands will descend upon Liverpool to watch the shows, many more will be watching at homes. I’ll forgive you if, at this point, you think I’ve lost my mind and can’t spot the link to private wealth. It will all make sense soon (I hope).

It could be argued the private wealth sector has an image problem. It is still largely viewed as male dominated, white, ex public school industry. While this may slowly be changing, the image is not. If firms do not seek to target new audiences and recruit from different backgrounds, it will never change.

Vintage Eurovision fans may remember ABBA and Bucks Fizz’s performances in the 1970s and 1980s, while newer converts to Eurovision will likely think of Maneskin and Daði Freyr. Would any of their songs be included in a list of the best songs of the past 50 years? Probably not.

But what made them memorable is that they are fun. They put on engaging performances and stood out from the crowd. People enjoyed watching them.

Investment performance is unlikely to ever be quite as captivating or fun as a Eurovision final. This does not mean it has to be boring though.

The firm delivering the best returns may end up being less successful in terms of client numbers and assets under management than those delivering worse returns if they do not communicate this message well and engage existing and prospective clients alike.

Firms should not be afraid to be fun either. There are times to be serious, but there are also times to have a little fun. There is no harm in doing something a little different to others and standing out from the crowd. This might just be what attracts clients to a firm.

And finally, there is a very important lesson we can all learn from Eurovision.

For years, we have heard that everyone hates the UK and that it is virtually impossible for the UK to do well in Eurovision. The idea that the UK simply wasn’t very good was never entertained. There had to be a greater conspiracy at play.

Last year’s competition debunked this theory. The UK entry in the form of Sam Ryder proved a hit with the audience and judges alike, placing second behind Ukraine. Being better was the answer all along. To be fair his fabulous hair may have had something to do with his success…

Often, it is all too easy for us to adopt a victim mindset and believe there is something against us – or our firms. In reality, this is rarely the case.

A change of approach, a bit more effort or perhaps an improved service might be the answer after all.