Q: HOW DO I MAKE MYSELF STAND OUT?

A: Try these three steps to creating a successful and authentic brand.

By Marie Swift

At a time when the entire financial services industry is under scrutiny, clients are more guarded with their money-and their trust. As a result, your image as an advisor is more important than ever. It's essential to be able to communicate your value. In other words, you gotta have a brand. In fact, you gotta have a clear, strong, authentic brand.

Brand is your image: the mental picture clients, peers and prospects have of you and your services. Your brand should embody what's special about you and what you can offer that distinguishes you from competitors. It is the most critical element in recruiting and retaining clients. You may be the savviest financial planner in town, but if you and your staff are not perceived as providing an invaluable service, you're likely to find attracting new clients a challenge.

What does your practice mean to people? When clients describe you, what do they say? Is it accurate? Subject your branding strategy to this three-step review strategy:

* Examine what you want your practice to epitomize and create a compelling value proposition-a "brand promise."

* Ensure that your personal qualities and collateral material support your brand promise. People's perception of you and your services-your "brand identity"-should be consistent with your brand promise.

* Make sure your entire staff is on board and "living your brand"-that is, acting in a matter that's consistent with your brand promise and identity.

ONE: SPELL OUT YOUR BRAND PROMISE

Who are you? What value does your practice offer? In one to three sentences, describe the unique benefits you and your staff can provide that are different from your competition. This exercise may sound simple, but it's far from it.

The old adage, "you are the only you," applies to your financial practice as well. The trick is to identify your differentiators and then deliver on them in everything you do. Your brand promise should be based on internal, client and competitor insights.

Think carefully about what you offer. Examine what attracts you to financial planning; make a list of the situations you find most satisfying. Are you in it for the results-seeing your clients' children attend college, finding ways to help clients retire early, creating a family legacy plan? Do you get satisfaction from being your clients' sounding board? Or is your preferred style to offer direct, definitive advice to clients who have trouble making decisions?

Also, look at how your personality and that of your firm contribute to your clients' experience. Your approach is unique-you just have to figure out how. If you get stuck, try hosting a couple of roundtable discussions with staff members and/or strategic partners. They can offer insights about your unique value proposition. Ask your best clients why they chose you as their financial planner. You can do this via email, a survey or invite them for a group dinner. Your clients can teach you about your brand.

Next, review your competition. Make a list of the three to five advisors in your area whom you consider your toughest competition. Your goal is to determine how your approach is different from theirs. What type of clients do they attract? What area of financial planning do they specialize in? Do they have long leisurely meetings with their clients or quick in-and-outs? Do they offer all-inclusive service or modular advice? How do they position their firm and market to the community?

A helpful tool I use with advisors is a grid with the characteristics that differentiate them down the left side of the page and the names of three to five competitors across the top. I ask them to mark each square with a plus, minus or equal sign to signify how their performance compares with that of their competitors. Try it-if you come up with mostly pluses, you know you've found your differentiators. Success!

It's important not to confuse your professional differentiators with your hobbies. But this has one exception: If your hobby involves skills or personality characteristics that transfer to how you work, referencing it in your materials may be effective.

Say, for example, your hobby is building models ships inside bottles. Based on that, it would be safe to say that you're patient, precise and attentive to details. These characteristics may well be among your professional differentiators.