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Insights | August 19, 2022

Does the name of my practice matter?

Not really. Plenty of companies, in the financial industry or otherwise, have names that objectively make little sense, sound strange, or are disconnected from the service or product sold—yet none of this slowed them down. Just ask VMT Wealth Management, Team 581 or The Ricca Group. 

So don’t overthink it. But if it’s on your mind anyway, because you’re planning to make a change or you’re starting out on your own, here are a few things to consider. 


If you name your practice after yourself, you’re making a very clear connection between you as an individual and the business you’re running. 

Do you aspire to create something bigger than yourself? Can you keep a surname on the sign and still manage a succession or acquisition down the road? If you take on a partner, will the name have to change?


If you name your practice after the town or city in which it operates, you’re deliberately associating yourself with that particular region. 

Are people in your area searching online for “wealth management in [town/city],” and how many other firms would show up in the results? In which provinces or states are you licensed? Do you want to present your company as a local operation or a firm with national reach? Does your location say anything about your company culture or philosophy?


If you name your practice thematically, you’re committing to a particular approach, worldview or methodology.

Is this something you’re prepared to carry through your entire brand? Does it get at the heart of what you do and why you do it? Does it speak to the right people or set the right tone? Does it reinforce what you claim to be “all about”?


If you include descriptive words in your company name, you’re clarifying the type and scope of service on offer.

Is it clear and specialized, like “Retirement Planning”, or broad and all-encompassing, like “Financial Services”? Does it suit the level of service you provide or plan to develop? Does it speak to a natural market, like “Family Wealth”, or a service focus, like “Portfolio Management”? How long is it and how might it look physically in a logo (and anywhere a logo might appear)?

Most often, it gets easier to choose a practice name once you have a clear vision for the business you’re building. And it might not make or break your success, but it could help you in subtle ways you don’t expect. 

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