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Naming Your Financial Planning or Wealth Management Firm

• Starting a new firm?
• Rebranding your existing company?
• Need help with a practice name or a team name?

Use my Name Brainstorming Exercise below

Naming

Choosing a name for your new or re-branded financial planning and wealth management firm can be a challenge. I am Suzanne Muusers, Business Coach to successful advisors. I have helped hundreds of advisors rebrand, create a new name for their company, find solutions to their branding concerns, and create an effective Marketing Plan.

My Brainstorming Exercise below will help you come up with business name ideas, give you some good company name tips, and help you create a great name for your practice!

Domain Name

These days it’s important to secure your domain name at the same time that you come up with the business name. I use www.godaddy.com to find out if a domain is available, but there are many other sites. The best names for financial firms have 3-4 words. These days it may take four words to find a name that also has a domain name (dot com) available. Here is an article about key issues when deciding upon your domain name.

Motivational Words or Nature Words

In the Brainstorming Exercise below I have provided a list of money/motivation words and a list of nature words. Some of my clients prefer to name their business using motivational words that coordinate with money. Other clients prefer to use words that convey a natural meaning. Take a look at both and decide what works for you. Finding good names for a financial company takes creativity and a little work. Good luck!

Brand it!

Once you’ve selected a business name, then it’s time to brand your business. Branding is how you build credibility in the marketplace.

Branding for Financial Advisors

Brainstorming Exercise – 7 Steps to Naming Your Firm

Instructions

Step 1. Brainstorming

• Print out this page.

• Circle words that appeal to you in the second column below -see the Brainstorming Exercise.

• Combine your circled words with helper words from the left and right columns. Then add to the options in the fourth column. To find additional words, use http://thesaurus.com. The best names are 3-4 words and have a nice “ring” to them.

• Come up with a list of ten options for names that appeal to you.

• Put your words into a Thesaurus to see if other words you like come up.

Thesaurus

Step 2. Domain Name Availability

• Make sure the domain names are available for the ten names you came up with during brainstorming.

• There’s really no point in considering any name if it is not available with a dot com because your firm may be confused with another firm and you want to keep your brand distinctive.

• Check Domain Name Availability:

Godaddy.com

• Put your list away and sleep on it for a day or two.

Step 3. Ask for Feedback

• Ask only one or two key people (clients, center of influence) their opinions (if you ask too many people, they may get their feelings hurt if you don’t go with their suggestions).

• Ask your staff what they think.

• What sounds the best to you?

What name personifies your firm’s values?

Tip: Pick a name you love, one that is important to you! Be proud of your firm and passionate that it represents your values, what’s important to you, and how you want clients to FEEL when they are working with you.

Step 4. Make a Decision

• Which name is going to help you be more successful, attract your ideal clients, and grow your firm?

Step 5. Make it Official – REGISTRATION

STATE REGISTRATION

Search for “department of commerce business entity name registration”  – search for your chosen name – register your name.

FEDERAL REGISTRATION

Do a Trademark search on the federal government web site:

https://www.uspto.gov/trademarks/basics

Learn what it means to trademark and then register your name. Just because you don’t see your chosen name in the database, it does not mean it’s not taken. You MUST register your name.

Or ask your attorney to assist.

• Do a search on the internet to see if anyone else has your chosen name

• Secure the domain name

• Follow the steps your tax advisor suggests to create your legal entity.

• Start the process to set up your name with your broker dealer and any other firms or authorities.

Step 6. Naming your practice after yourself – pros and cons

• There are many reasons why you should NOT name your business after yourself. It’s important to think long-term with the big picture of where you want your business to be in 5-10 years.

Step 7. Create your Branding and Marketing Strategy

Ask yourself these branding questions:

• What is your money philosophy or message?
• Are you coming from the right brain or left brain?
• What do you want to be known for?
• What concepts do you want to share?
• What are the results clients will achieve by working with you?

BRAINSTORMING LISTS

Conclusion:

Naming your company is a process that requires great thought and understanding. Take the time to really understand the consequences of this decision and how it impacts your Business Plan, your brand, and your long-term success.

PLEASE NOTE THAT I DO NOT WORK ON SMALL PROJECTS. I AM A BRANDING COACH. LEARN MORE HERE.