S t rate gi e s
Branding + Visual
Communications
n e w s l e t t e r
Published by Makovsky + Company Volume 22/Number 10
For more information on Makovsky + Company’s
Branding + Visual Communications practice, please visit
www.makovsky.com/branding-+-visual-communications/overview.html
the power of specialized thinking
The Future of Financial Brands
in a Post-Wall Street World
Since 1792, it’s been America’s most
valuable brand name.
Wall Street, the center of the financial
world. Wall Street, the engine of capital-
ism. Wall Street, the audaciously merito-
cratic hothouse of risk, reward and riches.
Make no mistake, Wall Street is a brand
every bit as specific and as emotionally
resonant to its constituents as Nike or
Apple or any of the other corporate
names that define our culture.
And for thousands of brokers, advisors,
researchers, underwriters and other
independent financial firms, it’s provided
a foundation of trust, confidence and
credibility for their individual brands.
Surviving the aftershocks.
Unfortunately, even before the seismic
events of October 2008, we began to see
cracks in the Wall Street brand:
• With all the expenses associated with • Sovereign funds, not Wall Street, are Does this mean that Wall Street is going
Sarbanes-Oxley, more and more fledg- propping up our financial institutions. away? Of course not. “The markets will
ling companies are deciding to forgo Singapore invested $9.7 billion in UBS, not disappear,” Robert Teitelman of
Wall Street money and seek their China $5 billion in Morgan Stanley, and TheDeal.com writes, “just because the
funding in London. Abu Dhabi $7.5 billion in Citibank. whirlwind has knocked down some

storied institutions.” Still, it’s clear that Wall Street’s value as a Standard’s six-step process, or as elaborate as Lincoln Financial
brand has been severely damaged. And those financial Advisors’ graphic methodology (go to lincolnfinancial.com), a
entrepreneurs who have sheltered in its foothills will have to branded planning process offers your prospective clients
look for ways to build their own foundations of credibility and concrete proof of your commitment. And allows you to place
trust. Three recent trends suggest a strategic and tactical any proprietary products you may recommend into a more
course of action. client-centric context.
1. Objectivity = opportunity. 3. Customization is king.
As confidence in big-name brands and institutions decreases, A consistent brand image has always been one of the
there’s been a marked increase in the flow of both assets to prerequisites of a successful marketing program.
independent firms. According to a recent Citigroup study,
about two-thirds of all new RIA assets are coming from the full- Today, however, more and more investors are looking for a
service brokers. customized brand experience. “Customers simply want a
personal relationship,” says Richard Smith of Financial Services
\"For many, objectivity is the most attractive feature,\" explains Technology. They expect an acknowledgement of their specific
Adrian Mastracci, an independent investment counselor. needs, and solutions tailored to their individual issues at every
\"Investors seek a professional who has no financial stake in brand touchpoint.
their investments.\"
How well are these expectations being met? Consider the
As always, your brand must offer a clear, compelling value typical financial services website. “Deplorable,” Dirk Knemeyer,
proposition — but in this environment, independence and author, educator, and founder of Involution Solutions puts it
objectivity should become the cornerstones of that proposition. bluntly. “Customers are not being brought deeply or
Even the established megabrands are working hard to establish compellingly into the brand experience. The information and
their maverick credentials. As a recent TD Ameritrade ad claims, interaction models, the lifeless usability choices, resemble those
“There’s never been a better time for a second opinion.” that were in vogue in the late 1990s.”
2. Brand processes, not products. Clearly, there’s an opportunity here. Thanks to the growth of
open-source programming and free analytics, it’s relatively
Once upon a time, the ability to offer branded financial products inexpensive to transform even the most static piece of
was considered a sign of leadership. But now … brochure-ware into a dynamic, customizable media channel.
“Investors are taking a long, hard look at their portfolios and how Build your own foundation.
they were created,\" notes Alan Brachfeld of Manhattan-based
independent KBK Wealth Management. “They want to know The good news is, confidence in The Street has been severely
that their advisor is completely focused on their needs, not shaken — but it isn’t fatal. As Robert Teitelman points out, “Wall
somebody else’s sales goals.” Street is a set of functions as much as a collection of institutions.
The need for those functions hasn’t gone away.”
Given investors’ skepticism and their renewed desire for
objectivity, transparency and accountability, many firms are The bad news is, confidence in The Street has been severely
finding that a clearly defined and branded planning process is shaken, and can no longer be trusted to provide a firm foun-
one of their most important marketing tools. dation of trust and credibility for entrepreneurial financial brands.
Whether it’s as simple as re-packaging the CFP Board of For the foreseeable future, you’ll have to build it yourself.
About Makovsky + Company
Founded in 1979, Makovsky + Company (www.makovsky.com) is today one of the nation’s
leading independent global public relations and investor relations consultancies. The firm
attributes its success to its original vision: that the Power of Specialized Thinking™ is the best
way to build reputation, sales and fair valuation for a client. Based in NewYork City, the firm has
agency partners in more than 20 countries and in 35 U.S. cities through IPREX, the third largest
worldwide public relations agency partnership, of which Makovsky is a founder.
1 6 E A S T 3 4 T H S T R E E T, N E W Y O R K , N Y 1 0 0 1 6
Contact Timothy Kane T: 212.508.9600 F: 212.751.9710
Branding + Visual Communications
W W W. M A K O V S K Y. C O M
212.508.9699
tkane@makovsky.com PR News 2008 Small Agency of the Year