http://todaysadvisor.com/montoya_naming_company.aspx

I agree with the article. I have seen too many advisors give their firms a generic name, like Lighthouse Financial, then to have a hedge fund with a similar name get nabbed in a ponzi scheme. The advisor then has to scramble to make sure everyone knows its not them.

Stick with something unique.

Yeah, I’ve just seen some goofy indy firm names out there though.  And a lot of potential clients get nervous about the “solo guy” feel.  I think no matter which route you take, you are going to gain some and lose some because of your “image”.  I know some people that prefer to work with the “local planner”, and then some people that, although they don’t really like “big firms” they have this perception that their money is somehow more secure or safe with a big, branded firm or bank (even though some of the banks use the same custodian as some of the firms, but how do you explain that??).  I know I have mentioned this before, but a good friend of mine from Jones went solo with Cambridge, and I had a few clients call me (just because I was the next closest office) wanting to transfer their account to me.  They specifically said "we don’t feel comfortable with someone “out on their own”’.  I even told them that their investments are just as safe and secure there, and that Jones and Cambridge are just the custodians of their funds.  But somehow they had it in their head that if this guy failed, that their funds would just disinigrate into vapor.

Each his own. In my area, naming a company the "LockEDJ Wealth Management" sends a signal of exclusivity - and it's a negative signal that suggests I don't want the $150K accounts. Nothing could be further from the truth so for me I would want something that included the words "Capital Assets" or "Management". (I simply can't use my last name. Too difficult to pronounce.) I'd have a different feeling if I worked in a different world.

[quote=LockEDJ]

Each his own. In my area, naming a company the "LockEDJ Wealth Management" sends a signal of exclusivity - and it's a negative signal that suggests I don't want the $150K accounts. Nothing could be further from the truth so for me I would want something that included the words "Capital Assets" or "Management". (I simply can't use my last name. Too difficult to pronounce.) I'd have a different feeling if I worked in a different world.

Thank you all very much for your input and the referenced article.  It has helped a great deal to get all of us on the same page and we have finaly settled on a name.  Yess…Progrress!

good job. =)

[quote=Primetime] In process of going indy with 2 others as partners. Have picked b/d, closing in on real estate, having trouble agreeing on a name for our LLC. What do the brilliant minds of this forum think about:

I started out of the block with “Joe Smith Wealth Management.”  I figure the less prominent the B/D is, the easier it would be if I decide to switch to a different B/D in the future.

I’d go with Joe Smith Wealth Management (or Asset Management) and explain that the client is simply moving your assets to a new brokerage and giving you limited discretion to direct them at that firm. If you go bust, the only thing that would change would be you.