In 2020, Chris Diodato was preparing to launch his advisory firm. He knew he needed to build a brand. So he called Batman for help.
One weekend, he was watching "Batman Begins." Actor Liam Neeson's character said something that got Diodato's attention.
"Bruce Wayne's mentor was telling him about making his brand about a concept of the Batman and not himself," he recalled. "I took that cinematic wisdom to heart, thinking that making a concept my brand was more relatable to my future clients than making it about myself."
There's nothing inherently wrong with crafting a brand that revolves around you. You might name the firm after yourself and feature photos of yourself and your family.
But an effective branding strategy goes beyond one's background and personality. It also captures an attitude or sensibility that resonates with potential clients.
Build A Brand Easily
Advisors sometimes assume that developing a comprehensive brand identity is a complex, expensive and time-consuming task. In fact, it's a fairly simple process that unfolds in stages.
For Diodato, founder of WELLth Financial Planning in Palm Beach Gardens, Fla., the first step was realizing his brand should convey an idea, not a person. The next step was picking the right concept.
A longtime proponent of health and wellness, he knew that young professionals — his target market — place a high value on balance in their lives.
"They want enough money to maintain a certain lifestyle but not at the cost of their health, personal relationships and nonfinancial goals," he said. "They want wealth, but they also want to be well."
He chose a name for his firm that blended financial wealth with overall wellness. And he decided to devote part of his practice to going beyond traditional financial planning and investment management to encompass introspection, self-care and personal fulfillment.
From there, he designed a website to communicate his brand. He also built a library of original content to educate prospects, writing about 50 articles and recording more than 20 videos on relevant topics for his target audience. Examples included explorations of the psychology behind happiness and motivation as well as financial subjects such as home buying and selling.
Once he officially opened his doors in January 2021, he released his content gradually to create a groundswell of interest.
Stability And Consistency Enhance A Brand
Brands are not born overnight. Savvy advisors lay the groundwork by identifying what differentiates them, whom they want to serve and then researching the marketplace.
"A brand requires intention and attention," said David Buzo, vice president at LPL Financial in Fort Mill, S.C. "A brand takes time to grow."
While Diodato got the idea for his brand from watching a movie, Jonathan Kiehl began to envision his brand when listening to a speaker at an industry conference in early 2020. Kiehl heard Henry Cloud, author of "Integrity" and other books, compare a boat's wake to business success.
"He said that just as a wake has two distinct sides, a successful business is recognized by two distinct outcomes: the results it delivers and the relationships it cultivates," said Kiehl, a certified financial planner in Lancaster, Pa.
Kiehl liked the wake concept and applied it to his brand image. Noting that a boat's keel provides both direction and balance, he decided to integrate the boat analogy into his firm name, Evenkiehl.
"It's more than a pun on my last name," he said. "I wanted to convey that my client has a stable, consistent guide."
He hired a local branding agency for logo design. It also produced a style guide with best practices on how Kiehl could maintain brand consistency using the same colors and typography.
Kiehl spent roughly $7,000 for the agency's services, which was among his biggest startup expenses. But he's pleased with the results.
Build A Brand For The World To See
Once advisors craft a brand identity, the next step is spreading the word. Introducing prospective clients to the firm — and what it stands for — requires a mix of strategies.
Kiehl sent weekly emails to family, friends, prospects and mentors with progress reports on his new firm's launch. Each update built excitement.
"Telling the story of the development of the brand allowed them to buy into it," Kiehl said. "It established a reason for why I was doing this."
For Tom Poltersdorf Jr., building a brand meant designing a website to attract his niche: small business owners who are planning an exit strategy. He hired Twenty Over Ten, a digital marketing firm, to raise his online visibility.
"They chose words for my website content that resonated with my niche," said Poltersdorf, a certified financial planner and owner of Beyond Your Exit Wealth Management in Harrisburg, Pa. "They made my message more clear."
For example, they changed what Poltersdorf described as "creative vision for your exit" to "creative vision for your next phase of life." They also inserted key phrases and took other steps to boost his search engine optimization rankings.
Mind Details When You Build A Brand
When presenting your brand to the world, details matter. Every element aligns to reinforce the intended themes and evoke the desired emotions in your target audience.
Alajahwon Ridgeway launched his independent practice in late 2020. He wanted to run a faith-based firm and showcase his authentic personality.
"Imagery and symbolism is very important," said Ridgeway, who runs A.B. Ridgeway Wealth Management in Lafayette, La.
In choosing photos and other visual aspects of his website, he sought feedback from clients. They sometimes spotted things that he missed.
For instance, Ridgeway wanted to use a photo of shoppers in a retail store. He didn't notice that in the background, an advertisement on a wall showed a woman in a bikini.
"If you see that ad, it's the kind of thing that can alter your brand," he said. "It did not reflect my brand. Some people might find it jarring," so he didn't use that photo.
To make their brand come alive, advisors need to produce the right content mix. Ideally, they balance financial and personal topics. Too much focus on technical information — from your proprietary trading methodology to market analysis — can backfire.
"Share pictures of you and your family, your community involvement, your personal interests," Buzo said. "I worked with an advisor who got a new client because he constantly shared about fly fishing. Our team has posted almost 230,000 social media posts in the last four years and the personal content averages 44% more engagement versus financial content."
