Naming firm...?

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Sep 13, 2010 11:06 pm

I'm in the process of naming my new independent firm.  What are some creative names you've seen that depict what we do -- my practice leans a little more toward the insurance, guaranteed investment planning (fyi).

I've read several articles about this - some say use your name, some say no...

What say you?

Sep 14, 2010 12:51 am

Creative names for where you're leaning?  Well, you don't want to put your name on it.  So try...

BIT LLC (Bad Investment Timing)

Money for Nothing

Be Greedy when Others Are Fearful (Tag Line:  Your fearful and I'm Greedy)

Just having some fun.  But seriously, you're leaning where the market has already gone.  Get ready for a decade or three of underwhelming investment results with this strategy, if you care about such things.  But YOUR income could be good in the next year or two.

I mean, why bother to start something so pedestrian?  What people really need is someone who can help them navigate the markets and have some hope of realizing their financial goals  And after the past decade for 90% of people, that means better than decent investment growth, not an expensive mattress strategy.  And with valuations what they are, you have no excuse for not delivering.

Sep 14, 2010 8:28 am

[quote=loneMADman]

Creative names for where you're leaning?  Well, you don't want to put your name on it.  So try...

BIT LLC (Bad Investment Timing)

Money for Nothing

Be Greedy when Others Are Fearful (Tag Line:  Your fearful and I'm Greedy)

Just having some fun.  But seriously, you're leaning where the market has already gone.  Get ready for a decade or three of underwhelming investment results with this strategy, if you care about such things.  But YOUR income could be good in the next year or two.

I mean, why bother to start something so pedestrian?  What people really need is someone who can help them navigate the markets and have some hope of realizing their financial goals  And after the past decade for 90% of people, that means better than decent investment growth, not an expensive mattress strategy.  And with valuations what they are, you have no excuse for not delivering.

[/quote]

WTF are you talking about...? Pedestrian,...? maybe I am missing the sarcasm, if so I apologize.

Sep 14, 2010 11:28 am

The more I'm around it, the less I like using your name in the firm.  Unless you are Warren Buffet or Peter Lunch, leave your name out of it.

Sep 14, 2010 12:15 pm

[quote=jackofalltrades]

[quote=loneMADman]

Creative names for where you're leaning?  Well, you don't want to put your name on it.  So try...

BIT LLC (Bad Investment Timing)

Money for Nothing

Be Greedy when Others Are Fearful (Tag Line:  Your fearful and I'm Greedy)

Just having some fun.  But seriously, you're leaning where the market has already gone.  Get ready for a decade or three of underwhelming investment results with this strategy, if you care about such things.  But YOUR income could be good in the next year or two.

I mean, why bother to start something so pedestrian?  What people really need is someone who can help them navigate the markets and have some hope of realizing their financial goals  And after the past decade for 90% of people, that means better than decent investment growth, not an expensive mattress strategy.  And with valuations what they are, you have no excuse for not delivering.

[/quote]

WTF are you talking about...? Pedestrian,...? maybe I am missing the sarcasm, if so I apologize.

[/quote]

I haven't a clue what the heck he's talking about either...

Sep 14, 2010 12:17 pm

[quote=Indyone]

The more I'm around it, the less I like using your name in the firm.  Unless you are Warren Buffet or Peter Lunch, leave your name out of it.

[/quote]

I'm with you - part of me says use it, part of me says no way.  I've brainstormed all the usual suspects...

Peak - Summit - Secure - etc, etc,,, all the words that describe....

Sep 14, 2010 12:25 pm

Our town's name, that is what we used. Doesn't get better than that.... I'm sure the Ed Jones guy loved that, and especially when we took the space directly across the street from him, his old office to boot. Actually, he's a great guy, and seems to care less. And hey, it worked for NY Life...

If you have your name on the firm, it does come across a wee bit pompous, or "mom and pop".  Also, if you sell your firm, then what?

I worked with a logo design company, they didn't help with the name, but they sure as heck know design work for logos. Very impressed, it was only $100. We then took the logo to a sign company for window work, then to the printer for stationary. This step was referred to me, and boy did that make a difference in professionalism.

Sep 14, 2010 1:30 pm

[quote=BigFirepower]

Our town's name, that is what we used. Doesn't get better than that.... I'm sure the Ed Jones guy loved that, and especially when we took the space directly across the street from him, his old office to boot. Actually, he's a great guy, and seems to care less. And hey, it worked for NY Life...

If you have your name on the firm, it does come across a wee bit pompous, or "mom and pop".  Also, if you sell your firm, then what?

I worked with a logo design company, they didn't help with the name, but they sure as heck know design work for logos. Very impressed, it was only $100. We then took the logo to a sign company for window work, then to the printer for stationary. This step was referred to me, and boy did that make a difference in professionalism.

[/quote]

Is the designer local or web based - if not just local, pm me their info. 


Nice idea on the town idea.  I work several towns in an area or region so I'm looking that way now...

Sep 14, 2010 4:11 pm

Let your name say:

Who you are & what you do.

You don't see too many fancy names in the practice of law or taxation.  You are not trying to build a worldwide brand but one that has resonance in your town.

Sep 14, 2010 6:47 pm

Hey, I took the town's (also country's) name too, "AXXXXXX Advisors".  It's a classy name, without being pretentious.

As for the previous comments, I wasn't trying to be cryptic.  I guess the term pedestrian isn't used much anymore.  It means common, as in everyone is doing it.

Sep 14, 2010 7:52 pm

I am still a fan of "JT Marlin" myself....

Sep 14, 2010 8:55 pm

[quote=spamfilter]

Let your name say:

Who you are & what you do.

You don't see too many fancy names in the practice of law or taxation.  You are not trying to build a worldwide brand but one that has resonance in your town.

[/quote]

Oh, I am building a worldwide brand one account at a time...

Sep 14, 2010 8:57 pm

Donkey Punch Securities

We'll knock the crap outta your returns...

Sep 14, 2010 11:59 pm

[quote=loneMADman]

Hey, I took the town's (also country's) name too, "AXXXXXX Advisors".  It's a classy name, without being pretentious.

As for the previous comments, I wasn't trying to be cryptic.  I guess the term pedestrian isn't used much anymore.  It means common, as in everyone is doing it.

[/quote]

Do you mean "county" or "country" ?

Sep 15, 2010 12:14 am

Hah!  If it was country then I would be America Advisors.  No, I meant county.

Sep 15, 2010 12:14 am

Hah!  If it was country then I would be America Advisors.  No, I meant county.

Sep 15, 2010 12:17 am

As Indie affiliate, I use my name, ___ ____, CFP, Certified Financial Planner Practitioner.

Sep 15, 2010 9:27 am

In response to the not-using-your-name idea...I think it can work if it's a partnership and you already have an established book of business.  Look at CPA and law firms.  Nearly all of them have partner names.  If you are serving HNW and UHNW, having a law-firm-sounding name isn't bad.  It sort of sounds "exclusive". 

However, I agree that "Bob Smith Financial" or "Peterson Financial Group" is pretty lame.  Just like "Bob Smith, Attorney at Law" sounds lame as well.  But you have something like "Peterson, Smith, Palmer and Edwards, LP" sounds a bit better, especially if they are well known (or WERE well known when alive).  It's a subtle distinction, but important.

Sep 15, 2010 11:05 am

I think you should name your company something that starts with A so that when people need a good financial planner and pick up the yellow pages, your name is first on the list.  And if you could name it something like Aardvark Investments that would be ahead of all of the Ameriprise brokers. 

Sep 15, 2010 12:45 pm

Branding is a good thing. The best way to put your own name first, and back it up with a second brand.

_____ _____, CFP, Edward Jones. " I offer funds and insurance from companies x, y z ". Very strong value proposition. The public is becoming more confused and leery and is looking for solutions, not alternatives to known brands.

If you affiliate with brands, it will bring you more business and make your business stickier. That may cost you money, but you have to consider stickiness. Also, you can get paid on smaller accounts if you are more of a generalist and affiliated with brands, versus the scale and snob factor of botiques. Even botiques are using brands like Vanguard ETFs.

Small branded shops can use Vanguard ETFs combined with major insurance brands and compete a little with the snoot factor. The brand that clients care most about and transcends the noise is your name, followed by your professional credentials.

When you are gone, nobody is going to remember " Oak Tree Financial" - your firm will likely be absorbed by a different firm, especially if you are a small independent or a small RIA.

This is a great topic, when you get it right, you can drive business to you instead of chasing it, big difference when you are talking about selling ideas, dreams and trust instead of upscale stereos.

Many advisors would be better off getting their CFP, CFA or CLU and pushing the brand called you instead of taking the industry bait and becoming obscessed with switching b/ds or forming small RIAs.