For many financial advisers and IFAs, the daily tasks of meeting with clients and completing paperwork can take up all their time. While these duties are obviously important, they can leave little time for you to focus on building your brand reputation. This, however, is critical for future business growth and your continued success.
Building your financial advice brand
Without making the effort to look at the bigger picture and set out a long-term strategy for building your brand, it’s hard to increase your revenue as you would like. This could see you stuck in a rut in terms of business growth and hitting a glass ceiling.
Your brand is easily the most visible and crucial element that customers will look at before they hire you. The most common questions that people may ask about your brand include:
Can I trust it to give me impartial financial advice?
Can I trust it to give good, low-cost financial advice?
Does it have an excellent reputation within the financial advice sector?
Will it treat me as an individual and tailor its financial advice to my needs?
As you’ll be aware, trust is the key issue with your brand when people are looking for a financial adviser. They need to see that they can trust your brand to not only give proper advice on the most appropriate financial products, but also handle their money appropriately.
Three ways to build increased brand awareness
With so many competing financial advice firms, you need to cut through the noise with a brand that reaches people. Here are three ways to do just that:
Carve out your own niche – While it can seem sensible to offer the broadest range of services possible, this won’t make you stand out as a brand from any number of financial advisers. Instead, think of becoming a brand recognised as an expert in one specific niche, such as financial advice for pensions.
Build great relationships – To really build your brand, forming strong relationships is a must. It’s crucial that you build excellent relationships with all your financial advice clients and always offer the highest standards of service. This will allow you to become known as one of the best and keep a strong core of loyal clients.
Sponsorship – One ethical and effective way to increase your brand awareness is to sponsor an event or charity. This will not only make you seem more personally invested than other financial advice firms but also give you a reputation as a great, trusted company.
There is no doubt that taking the time to further build your brand awareness is essential. It will help you drive growth in your organisation as well as making you more visible to potential customers. The financial advice market is a crowded one, so it makes sense to do all that you can to get people to notice you in a positive way.
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