Financial Advisor Branding: How to Stand Out From the Crowd

Branding is different from marketing in that it more quickly impacts how a prospective client perceives you at the moment they become aware of you. Literally, that first and lasting impression that snaps them out of their fog, gets their attention and resonates over the long haul. Branding also impacts how your clients and other influencers in the marketplace describe you to others when the opportunity presents itself.

Our approach is proven and is drawn directly from our one-to-one coaching program used by some of the most effective financial advisors in the business. It can ensure that you are perceived as a consultant by prospects and described as a professional with a process by clients and influencers.

And that is really the point. How are most financial advisors perceived - as sales people selling investments or as consultants providing an investment process? Many people today associate a financial advisor as a broker asking them to buy investments as opposed to a consultant asking them buy into a process and long term relationship. That's their expectation and you cannot feed that - you have to differentiate using effective messaging in all of your verbal, printed and multimedia communications.

Furthermore, it's becoming increasingly difficult to stand out from the pack because the investment industry is becoming more and more commoditized each and every day. Along with that, there are forces at work that prompt people to focus on what you cost rather than what you are worth. Price is only an issue in the absence of clearly defined and relevant value. A solid branding strategy helps people focus on your unique value.

In addition to standing out, your goal is to get people's attention and be memorable. The velocity of noise your clients and prospective clients are exposed to is dizzying. There is a natural signal to noise ratio in this business - you want people to tune out the noise and tune in your signal. Branding helps you achieve this while ensuring you are positioned as an expert rather than being perceived as a salesperson.

As a consulting company for financial advisors, we are often asked what someone can expect from our practice management and business development consulting program. My answer is simple: we want to help you work half as hard and earn twice as much.

That is achieved by helping advisors deploy a full suite of best practices, use a fit-process instead of a sales process and implement a branding strategy that is more compelling and attractive to affluent clients.  

Key takeaways:

Our Proven Branding Strategy:

• Position yourself as a consultant, not a salesperson. This approach emphasizes your process-driven approach and builds trust with potential clients.
• Craft a compelling message across all communication channels (verbal, written, and multimedia) to highlight your unique value proposition.

Why Branding Matters for Financial Advisors?

• Stand out in a commoditized industry. A good branding strategy ensures you are differentiated from other financial advisors.
• Shift focus from cost to value. A strong brand clarifies your worth and attracts high-net-worth clients.
• Cut through the noise. Break through the constant barrage of information and capture client attention.
• Be perceived as an expert. Branding positions you as a trusted advisor, not just a product seller.

Continued Success!

Contributed by: Duncan MacPherson, author, speaker and Financial Advisor Coach

Related articles:

• The Subtle Power of Branding 
• What is Branding?

Do you want to learn how to implement these financial advisor marketing & branding strategies? Speak with a Pareto Systems expert. 

Or learn more about our Financial Advisor Business Coaching at paretosystems.com

Branding: Beyond Aesthetics 

Does your value stand out to clients? How does your brand make someone feel initially, and then over time? You probably know the names Marion Morrison and Norma Jean. Marion Morrison was better known as John Wayne. It's not to say that he couldn't have been as popular had his stage name been Marion Morrison - Shakespeare talked about a rose smelling just as sweet. Norma Jean could have been just as popular as Marilyn Monroe, but there's a reason they (or their studios) decided to rebrand their names. In their world, they were trying to create followers. Some might misidentify this as ego, or having a hero complex, but at a basic level it is providing an aspirational example for the entertainment consumer. A lot of people in the world want to be lifted up, or to escape - to feel like they would have a shot, too. That feeling is an unmet need which entertainment can address. Smart positioning and messaging (or a name-change) can facilitate that. Something moved Robert Zimmerman to adopt the name Bob Dylan and his brand has survived for many decades.

(Fun fact, Hugh Dillon - his actual name - is the lead singer of The Headstones. He is also a notable actor with roles such as Sheriff Donnie Haskell in Yellowstone. If that's not impressive enough, he also played pond hockey with NHL Hall of Famer Doug Gilmour as kids. Hugh is a living legend. Watch the Headstones music video for Smile and Wave - a great mantra to live by - to see him in action in the 90's.)

There is a subtle power to branding. There are quantitative benefits, not just qualitative. In 1954, Peter Drucker wrote The Practice of Management in which he noted there is only one valid definition of a business's purpose: To create a customer. In this era, we might modify that a bit and say "to create and keep a customer." The modern volume of noise and the velocity of information is intense, but your branding strategy is your beacon and a means to an end. All roads lead to attracting and keeping great clients and converting them to advocates. 

Branding is not just about who you are, what you do and how long you have been doing it. For a majority of your competitors, that's how they think about branding and therefore they are in a competition to tread water because of commoditization. They strive to impress with technical knowledge. They use generic word salads and jargon. They're proficient but couldn't be less interesting. It's like listening to someone explaining their tattoo or describing last night's dream. Interesting to them, but not so much for the listener. They will say things like, "We do things differently here. We take a holistic approach." You might respond (with pardonable cynicism), "Oh, good, you're the one. Finally, I found someone who uses a holistic approach," because, again, technical ability is now a minimum requirement. 

Everyone says and aspires to being unique and professional. Branding should not just be bright lights and a coat of paint. It's not just staging a house to try to sell it for maximum value. It's bigger than that. It permeates everything, because it has to be backed up. Potential clients are going to look at the bones. They're going to look behind the curtain. They want to know that there is no over-promise/under-deliver. That you've got the goods - fully and completely. 

To summarize this New Era of Branding:

In today's information overload, cutting through the noise is critical. Your brand is your beacon, attracting ideal clients and turning them into advocates.

Branding is NOT about:

• Bragging about experience. Technical expertise is a baseline expectation, not a differentiator.
• Generic messaging. Avoid jargon and cliches like "holistic approach." Be specific and engaging.
• Superficial aesthetics. Branding is more than a visual makeover. It reflects your core values and consistent delivery.

True branding is about:

• Identifying unmet needs and offering a solution that resonates emotionally.
• Delivering on promises. Building trust requires consistent quality and exceeding expectations.
• Building long-term relationships. Convert initial interest into lasting customer loyalty.

Contributed by: Duncan MacPherson, author, speaker and Financial Advisor Coach

Related Articles: 

• What is Branding?  
• Differentiating Begins with a Personal Branding Strategy

Do you want to learn how to implement these financial advisor marketing & branding strategies? Speak with a Pareto Systems expert. 

Or learn more about our financial Advisor coaching at paretosystems.com

It's not what you say, it's what they hear!

The way you articulate your value to clients and prospects plays a huge role in your branding.

So, when clients believe financial advising is solely about managing money and picking investments, they may overlook the comprehensive value and services you provide.

Stream the latest Always On podcast where Seth Diener and Alex Lerch share insights on effectively articulating your value proposition: paretosys.co/AODM_ep53

The Future of Branding and Client Acquisition with Seth Diener and Alex Lerch - Always On With Duncan MacPherson Ep. 55

With messaging, the key is brevity, specificity, and proprietary.

You must choose your target audience, personalize your marketing to resonate with them, walk them through a proprietary process, and share their experience using effective testimonials!

Learn more about elevating your brand in this episode, as Duncan speaks with Seth Diener, owner of Diener Money Management, and Alex Lerch, , director of Oak & Stone Advisor Marketing. They explain how advisors can better focus their marketing efforts on their ideal audience - and then harness the power of AI during the implementation phase.

They also discuss:

• The multi-fold benefits of giving your process an identity (i.e., a brand within a brand)
• How to garner a newfound appreciation from existing clients
• How to use client testimonials in multiple ways and make the most out of them
• Using AI to craft content (especially when the average human attention span is at an all-time low)
• And more

Stream the new episode of Always On by clicking here: paretosys.co/AODM_ep55
 

On Tuesday, March 26th at 12:00 PM ET we invite you to unlock the secrets to building a thriving professional referral network with Pareto Systems. Many advisors struggle to consistently secure referrals from influential professionals and rainmakers outside their client base. In this dynamic webinar, Duncan MacPherson, a renowned Client Acquisition Expert, will unveil proven strategies not just to enhance your relationships with these key individuals but also to create a mutual pathway for introductions.

Join us to discover how to:

• Transform your referral approach into a value-added service for both your clients and partners.
• Clearly define and effectively communicate your unique process to strategic partners, distinguishing you from the competition.
• Become the advisor of choice by highlighting your distinct value proposition.
• Cultivate a rewarding and sustainable partnership experience that keeps strategic partners continuously engaged and enthusiastic about collaborating with you.

This webinar will include a live Q&A with Duncan MacPherson. You can ask your questions live, or enter one when you register here: paretosystems.com/webinars

Can't make it, but don't want to miss out? Don't worry, register now and ask your question, and we will give you access to the recording following the broadcast.

Unlock the secret to attracting quality referrals without the hard sell. Discover how to make your practice irresistibly referable by mastering the art of being dependable, predictable, and admirable.

For more on this, and other actionable best practices, download Chapter 1 of Duncan's book "The Blue Square Method" today at thebluesquaremethod.com

Explore the transformative journey from competition to coopetition, where the quest for personal excellence transcends traditional rivalry.  

Watch the full video by Clicking Here  
 

Higher recurring revenue = higher enterprise value! 

But that's just one of the factors.

What else affects the value of your business? How can you earn a higher multiple when it's time to sell?

Duncan MacPherson and Ted Jenkin address these crucial questions in the latest episode of Always On.

Tune in now: paretosys.co/AODM_ep54

Are you looking toward succession in your practice? Are you dependent on a protégé or partner to make all the gears mesh? Who's deciding where the ship is heading? Most importantly, will it work, both for you and your clients?

Too many mentors leave the protégé to their own devices to figure these things out. You can't play to maverick talent when looking toward franchise-readiness or a partial exit; you have to play to process and to your proprietary assets.

The most successful advisors to partner with a second-generation or junior created, essentially, a franchise-ready environment. This not only freed the mentor to focus on the top 20 percent of clients, knowing that the 80 percent were well taken care of by the protégé, it created the sense of an upgrade for clients, rather than feeling like they'd been handed-off, resulting in uncovering untapped new business opportunities along the way .

There are countless examples of successes, anticlimactic outcomes and outright failures in the acquisition world. The old model came down to the buyer focusing on what the business would cost, while the seller was fixated on what the business was worth with little emphasis placed on the key intrinsic and proprietary assets. There was also little thought applied to deploying a turnkey and proven process to communicate with the clients involved prior to, during, and after the transition.

Many knowledge-for-profit professionals who buy or sell a practice are only buying a book of business, not an actual business. There are several key performance indicators that go beyond the trailing 12. So what is the difference between a 1X transaction and a 2X or better multiplied transaction?

One of the most important issues is the quality of the client relationships. That is just as important as the quantity of total assets. How loyal are the clients based on how they have been served up to this point in the relationship? Have they bought investments, or are they bought-into a professional process? Metrics on empowerment, referrals, demographics and commonalities, commissions vs. fees and several other issues are key as well. Most importantly, build a playbook that details and defines your processes so that your protégé - or anyone else - can bring the service your top clients deserve and expect, and which clearly communicates to clients what they can expect from the practice.

The bottom line is this: Whether you plan to buy or sell a business in the future, it is essential that you get out front and be well-prepared to multiply the value of the asset and make the outcome as smooth and predictable as possible.

Understanding the process and communicating it clearly removes much of the friction that can occur. Deploying a process demystifies the experience and ensures there is minimal opportunity leakage - and that you don't squander your time.

Learn more about succession on Duncan's "Always On' Podcast:  paretosys.co/AODM_ep54

Master Marketing & Innovation with ChatGPT

Understand what every entrepreneur needs to know about boosting the enterprise value of their business.

This is an excerpt from episode 54 of the "Always On with Duncan MacPherson' podcast featuring Ted Jenkin, CEO of oXYGen Financial and President of Exit Stage Left Advisors.

Stream the entire new episode of Always On by clicking here: paretosys.co/AODM_ep54