Part of my role as Commonwealth’s chief business development officer is to work with advisors on their firm’s brand strategy—What is your brand? What would you like it to convey?—as well as methods to carry out that strategy—How do you promote your brand to attract ideal clients?
In my last blog post, I wrote about branding and some of the key issues advisors face when choosing a firm name. I also outlined the pros and cons of naming your practice after yourself; the short answer is, we don’t recommend it. Right after that blog article was posted, I received a call from an advisor. He understood why naming his firm after himself was limiting and agreed with all the reasons I laid out—but what, then, should he name his firm? The advisor was at a loss as to how to proceed.