One of the most powerful dynamics that investors have benefited from as the independent advisor channel has grown over the last 30 years is choice. Independent advisors demand objectivity and choice and have become masters of leveraging for the benefit of their clients the best our industry has to offer.
Eliminate Brand Confusion
The independent advisor sits at the table with the investor and has behind them a giant shelf from which they pull all the resources needed for that investor. The unintended consequence can be confusion. Often there are so many participants in the relationship that the investor gets confused. Put yourself in the seat of the investor who sees the brand names of so many participants, from the RIA with which the advisor is associated, the custodian, service providers like TAMPs and planning software, money managers, the advisor’s own DBA, and many others.
Since independent advisors are not going to stop leveraging for clients what they determine are the best available expert resources, how can investor confusion be diminished? The answer is obvious: the investor put the advisor in the driver’s seat and so the more the investor sees the advisor’s brand, the more comfort they will take from knowing the advisor is in control.
Increase Brand Awareness
Where practical and legally allowable, your advisor brand should be what the client sees, at least first and most often. Demand of your service providers that their applications and materials be branded with your logo. If a provider will not allow this, get another provider who will. Partner with those who believe the advisor should be front and center.
Making sure your brand is on everything requires managing your brand and making a conscious effort to put it out there and in a consistent manner. Also, being mindful and caring a great deal about the content that carries your branding is important. Everything your client sees is a reflection of you and your practice, so it should carry a consistent tone and voice and speak from your own unique perspective.
The first and most important step is deciding to increase your awareness and get to work. You can lay a strong foundation for your practice’s future by focusing on your brand and how it communicates and reinforces your value proposition to both your existing and potential clients, as well as centers of influence.
Using a turnkey asset management platform (TAMP) like Freedom Advisors allows you to infuse your brand into every interaction you have with your clients and put it on everything they see. This includes the client’s online portal branded with your logo, as well as all monthly statements, investment proposals and the like. Keep asking yourself: Is my brand on everything allowable that a client sees?
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