This article explores the reasons why financial advisors choose to rebrand their businesses, emphasizing the importance of clarity and a well-defined plan. It highlights a successful example of a rebrand by Fairway Wealth Management at National Bank Financial Wealth Management, discussing their motivations, process, and benefits.
For many advisors, rebranding is a way to ensure consistent messaging, plan for the future or attract clients aligned with your services.
Formerly the JMRD Watson Wealth Management team, Mr. Watson was concerned about adding and subtracting individual names from the business as the team grew and people retired. The change also ensures standardization of service for clients across five offices, says Mike Ankers, a wealth advisor and partner on Mr. Watson’s team in London, Ont., who joined just after the rebrand.
National Bank Financial Wealth Management took care of the regulatory considerations, such as registering the new trade name. The firm permits advisor teams to have a trade name that doesn’t reference their last names, which is often the industry standard. “You want to be heavily invested,” she says. “If you want to do a really good job, you want to make sure you do the audit, you want to the questionnaire yourself so that you know what you want to say, defining who you are and committing to that. That whole process, it takes time.”
At the same time, she says, “Guidelines allow for the flexibility of advisors to meet specific marketing needs and promote creativity.”On the advice-only side, Natasha Knox, certified financial planner and founder of Alaphia Financial Wellness in New Westminster, B.C., chose to overhaul her brand, formerly known as Pax Financial Planning and Education, in 2021. The decision came after an analysis revealed that her existing brand and website weren’t attracting clients aligned with her expertise.
Rebranding Financial Advisors Brand Consistency Client Experience Business Growth
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