(wiki description) 
A standard-bearer is a person (soldier or civilian) who bears an emblem called an ensign or standard, i.e. either a type of flag or an inflexible but mobile image, which is used (and often honored) as a formal, visual symbol of a state, prince, military unit, etc.

i think this would make a good addition .
they could either be symbols or pictures of there gods (for RP holy wars )
it could boost stamina for all in the party while hes alive but as he would be holding it he wouldn't be able to attack.
even custom uploaded images for each guild could be worked into it like some other mmos (rude ones would cause a perm ban)

just an idea to make guilds a little more like army's

as far as I'm aware nobody has suggested this and it would still fit with the medieval style of the game