The wealth management brand

A firm's brand is reinforced through multiple layers of corporate policy, strategy and practice. Beyond explicit branding messages that may be communicated through websites, promotions and public relations, for example, clients also experience the brand through customer service, distribution channels and sales and marketing policies. Some industry practitioners believe that, while 'old wealth' client segments, including inheritors, rely very heavily on word-of-mouth referrals, 'new wealth' client segments are likely to be more open to a strong, familiar brand, developed through targeted media and promotions. The latter group includes executives, entrepreneurs and expatriates. Wealth managers also conduct branding research among intermediaries and strategies to target them include advertising and sponsored events. Preferred advertising media include trade publications, while events take the form of conferences, dinners, lunches and other bespoke events for the most important intermediary firms.