Gail Graham is senior vice president of strategy and execution at United Capital discusses the future of branding in financial services industry. In her article on Business2Community.com website she discusses changing landscape of the industry in the US. Declining margins, aging clients, pauperised and digitalized youth. According to Ms. Graham it all leads to the major shift in the industry. Small, private companies that were once a successful exit from the corporate world for many financial advisers are not able to survive.
The personal brand loses with big budgets spend in digital marketing by big guys who can afford to hire professionals. Business is no longer local, as customer can select and choose offers online. According to Ms. Graham the answer is building strong brand of the network of small companies. United Capital is actually such an alliance of financial advisors.
I tend to disagree with Ms. Graham. Digital marketing in reality levels field between big and small companies. Properly tageted local campaign in social mediacan bring local advisor not only one-shot success but a loyal community of customers.
At the end, as Ms. Graham admits, one of the most important questions to the financial advisor is
“Will you be here when I need you?”