Consistency

Look at any brand you trust, and what you will find is consistency.  You know exactly what you get when you go into a Starbucks (type of coffee, selection and the feel of the store environment). McNuggets from the McDonald’s down the street are the same as the ones across the country (handy if you have picky kids on vacation!).  It is about knowing what you are going to get, and getting it the same way all the time.

That’s not to say you can’t vary some things – some McDonald’s are quite different in their decor – but you need to keep consistent in what matters to clients to build trust.

As an advisor (or anyone trying to establish a personal brand), it is important to define what your clients care about, and deliver that consistently. Be very careful in defining this – you need to ensure that you can be consistent, that you control the factors entirely. Your logo, sending birthday cards, offering tea or coffee when they come to your office (or knowing their beverage choice before they come in), your overall planning process and how you proceed through the steps – all are controllable. Rates of return, product features and design, product availability, the brand image of companies you represent are not in your control, so should not be used to create trust.

Who represents your brand?

As an advisor, you have a brand. A brand is simply just the images and emotions people have when they think about you and your practice. Some work hard to project a unique brand image, others borrow a brand from the company they work for. While you may think that you are the personification of your brand, you are not. A brand is really represented by whoever is speaking to and influencing your next new client.

For a manufacturer, that’s you – the advisor. You are the key influencer on the clients who buy their products. The best companies out there (in and out of the financial industry) are aware of this, and ensure they work with advisors who share their ideals and viewpoints, and align everything they do – from product offering to support to recognition – in helping those advisors represent their brand effectively. An advisor who can do this, who is authentic to the brand is worth their weight in gold.  On the flip side, an advisor who is not aligned to the brand can cause more damage to the brand than anyone who works in head office.

The same logic applies to your clients.  A great client who speaks passionately and openly about the value you have brought to them and their family represents your brand well. A client who complains openly, or even just agrees with other advisor’s clients about cost, or returns or lack of service damages your brand. More often than not, these complaints come from clients that you took on that didn’t appreciate what you represent in the first place (you know who they are  - the ones you really don’t like working with now). It is better to find clients who will represent your brand (you) well, align everything you do – from planning services to product selection to cost structure – to help these great clients represent your brand to your next great client, and the next.