Strong Branding Can Help Your RIA Firm Grow
Technology is breaking down geographical barriers and providing people with more options to choose a service provider beyond the ones who are local. The pandemic sped up this shift in how services are delivered, but it also created more acceptance to working with service providers remotely. To take advantage of the newly created opportunities, your firm must be ready to attract clients from anywhere. It also means your firm must be prepared to compete with RIAs and financial advisors from all over the country.
How can your firm stand out among the increased competition? With a strong, authentic brand.
Your Brand Matters
What is a brand? Most people will think of a company’s logo, but branding is more than that. Your brand includes defining what your firm does best and showcasing it; identifying your ideal clients; and your communication style. Basically, your brand is the sum of the experience with all your marketing tactics.
RIAs recognize the relationship branding and marketing have to the growth of their business. Building a brand is a top concern for RIAs in 2021. The internet and social media have created countless choices for people when it comes to buying anything, including investment and financial planning services. That’s why your RIA firm needs a strong brand.
It distinguishes you from the competition.
It shows who you help and how you help.
It sets the tone for how you communicate with clients, prospects and referral sources.
It allows you to build trust and loyalty with clients.
Creating and Showcasing Your Brand
Brand development and implementation should be a focus for any firm that seeks to grow. It is an essential element in your firm’s overall marketing strategy. Just as you created a business plan to establish your firm, you need a marketing plan, which includes defining and executing your brand.
If your firm doesn’t have a marketing plan, you aren’t alone. Less than half of firms have one in place. However, many recognize that they need one. In fact, help with marketing strategy was the top area firms with up to $100 million in assets reported wanting help with.
If you are ready to grow your firm, we can help. We work with RIAs to develop a strong brand that will resonate with clients, prospects and COIs. Contact us today to learn more. You can also download our eBook, “RIA Marketing: Accelerating Growth” to see what it takes to create a sustain a strong brand.