How Are Your Branding Yourself in This Market?

When advising job seekers, personal branding expert Scott Ginsberg defines branding as "...identity. It's what you're known for knowing. Branding is the best, highest version of yourself - and how other people experience themselves in relation to you." As a financial advisor, you are constantly seeking employment as the advisor of choice for both existing and prospective clients. Your success will be determined largely by how they experience your brand.

Let me offer three suggestions for improving your brand in bad economies:

1. Build what Scott calls a Success Vocabulary by removing any negative language. As a financial advisor it can be very difficult to remain entirely positive when portfolio performance has been hurt by sudden or unexpected downturns in the market. Successful top producers like UBS' Allen Garner suggest 4 ways to stay positive in these situations: first, be proactive. Reach out to your top clients immediately. Don't wait for them to call you. Second, maintain a positive attitude about the future [remember, America has experienced economic problems in the past but has always roared back in time]; third, have a good explanation for the market and the economy [your firm's economists will usually provide that]. And, fourth, have an action they can take RIGHT NOW to improve their situation. Anxious people need direction and, even if they don't take your suggestion, they will remember you as a leader who at least offered a course of action.

2. Delete unprofitable language. Your words to others AND yourself will determine both how you and they feel [motivation]. If you don't sound confident, neither will they. In uncertain times, people will not follow an uncertain leader very far.

3. Become known as THE trusted source for key information about the market, the economy and the future. Hold regular seminars for your best clients and invite your firm's experts to speak. Topics can include anything from the market/economy to changes in the tax codes, estate planning, financial planning, etc. The areas you choose should be based upon informal surveys YOU take of your top clients interests and concerns. To increase your client base, encourage clients who attend to bring guests. Note: you can also provide these kinds of seminars to groups like the Kiwanas, the Rotary, Lions Club, etc. and get a free writeup in the local paper with you and your firm listed as the sponsors.

We'll discuss improving your brand further in future blogs. In the meantime, feel free to add your own thoughts. Thanks and good luck. kfg