The financial advice market today is volatile. With changing regulatory structures, increased competition and authorities putting more and more pressure on adviser firms, it’s no wonder that financial advisers are feeling the strain. However, as costs escalate and banks continue to close their distribution arms, it’s not all bad news. In fact, in this ever-changing market where people are unsure where to go for financial advice, there’s actually a big opportunity for IFAs to get out there and win new business. But in order to take advantage of the market and win new clients, you need to make sure your financial adviser branding is just right. Read on to find out how…
What is branding?
By definition, branding is a marketing practice where a business creates a name, symbol or design that is easily identifiable and clearly belongs to that company. But branding is more than just a logo – it’s actually about the entire customer experience. Your brand helps to identify your products and services so you can stand out from others. It’s a representation of who you are, what you do and how you want to be seen – and, most importantly, it represents you and your promise to your clients.
Why branding is so important
Branding has a huge impact on the success of your company and is absolutely vital when it comes to winning new business, increasing awareness and building trust. A good brand instills confidence in people – and with so much financial advice business coming from word of mouth, it’s really important that your potential clients feel as if your brand is dependable.
A well-strategised branding strategy essentially helps you to build trust with existing and potential clients, and develop a powerful brand which allows you to distinguish yourself from the competition. A strongly established brand can also increase business value by giving you more leverage in the industry and making your business an appealing investment opportunity too – which means branding is also important when it comes to planning an exit strategy. And in the meantime, it can help you to attract and retain high-quality staff as well.
How to get your branding just right
As an IFA, there are two options available when it comes to financial adviser branding: you can either go it alone and be wholly responsible for your marketing and branding, or join a wider network or wealth management firm such as 2plan, where you will have internal branding and marketing support as well as the option to outsource to a team of experts.
If you are comfortable with branding and marketing or even have previous experience, you might well decide to build your own brand. With so many options available, in today’s digital age, anyone can build a well-functioning website or print marketing collateral – so it can be pretty tempting to go it alone. However, there are a number of benefits to partnering up with a network, and if you already have an established brand of your own, joining an established brand such as 2plan will only add more weight to your reputation, helping you to win new business as well as recruit and retain staff. Here’s how:
Join a strong parent brand
2plan have been building their brand for more than 11 years. Over the years, they have run a number of extensive PR and marketing campaigns which has resulted in a huge increase in awareness, which means that you can benefit from having a strong, established brand behind you. In addition, they will also use their knowledge and expertise in building a powerful brand to help you build yours – so by aligning yourself with their name, you can grow and prosper as well.
Instil confidence in your existing clients
Using the power of the 2plan wealth management brand means you can instill a sense of confidence in your clients. People want to know that their adviser is part of a stable, regulated company that has plenty of support behind it should anything go wrong, and by joining forces with 2plan, you can reassure your clients that you are part of a trusted firm of financial advisers who are known for providing top class service. This level of trust and confidence means you can enjoy and nurture long-lasting client relationships.
Benefit from additional marketing support
When you partner with 2plan, their wider marketing support includes brand development, newsletters, PR and design. You’ll also have access to a team of specialist resources, too – so whether you want to launch a business development campaign, need advice on how to build a website or are looking to develop a new brand identity, they can help you do so and empower you to market yourself in a professional manner.
Website design and build
2plan’s unique and powerful online system allows their advisers to create and administer their own website. Not only can you choose from a wide range of layouts, professionally-designed templates, a huge image library and a selection of guides to help promote your services online, but they will also take care of the stress associated with running a website by automatically looking after your security updates. And that’s not all: they also provide a dedicated technical support team and can help you to monitor your website and track your visitors so you can make your website a powerful part of your marketing strategy. There’s even an optional online portal service aimed at giving additional value to high-net-worth clients as an integral part of their ongoing service agreement.
Save valuable time
When setting up your financial advice firm, there are a lot of things to think about. You’ve got to find your space, set up a website, build up your financial adviser brand – and do all of this whilst growing your business and taking exams. Without a doubt, the hardest part is that you are doing everything yourself – which means you need to streamline efficiencies, understand what you can and can’t do and get help where you need it. By partnering with 2plan and using their marketing and branding support, you will save valuable time that you can spend growing your client list and giving financial advice.
Ready to nail your branding?
To sum up, having a strong financial adviser branding enables you to retain quality clients and build an enviable, profitable and stable businesses – and in today’s competitive market, a strong brand is one of your most powerful weapons. Aligning yourself with the 2plan wealth management name is a great place to start when it comes to growing your brand. With 2plan, you can be part of a team that actively supports their clients by giving them the chance to spend more time building relationships with clients whilst they take care of the rest. So if you want to make your work life easier and your brand stronger, contact us today to find out more.
