{"id":1010,"date":"2022-08-19T09:30:00","date_gmt":"2022-08-19T09:30:00","guid":{"rendered":"http:\/\/advisorbranding.com\/posts\/?p=1010"},"modified":"2022-08-12T21:54:57","modified_gmt":"2022-08-12T21:54:57","slug":"does-the-name-of-my-practice-matter","status":"publish","type":"post","link":"https:\/\/advisorbranding.com\/posts\/does-the-name-of-my-practice-matter\/","title":{"rendered":"Does the name of my practice matter?"},"content":{"rendered":"\n
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\u2014yet none of this slowed them down. Just ask VMT Wealth Management, Team 581 or The Ricca Group. <\/p>\n\n\n\n
So don\u2019t overthink it. But if it\u2019s on your mind anyway, because you\u2019re planning to make a change or you\u2019re starting out on your own, here are a few things to consider. <\/p>\n\n\n\n
Eponyms<\/strong><\/h3>\n\n\n\n
If you name your practice after yourself, you\u2019re making a very clear connection between you as an individual and the business you\u2019re running. <\/p>\n\n\n\n
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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?<\/p>\n\n\n\n
Locations<\/strong><\/h3>\n\n\n\n
If you name your practice after the town or city in which it operates, you\u2019re deliberately associating yourself with that particular region. <\/p>\n\n\n\n
Are people in your area searching online for \u201cwealth management in [town\/city],\u201d 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?<\/p>\n\n\n\n
Themes<\/strong><\/h3>\n\n\n\n
If you name your practice thematically, you\u2019re committing to a particular approach, worldview or methodology.<\/p>\n\n\n\n
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Is this something you\u2019re 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 \u201call about\u201d?<\/p>\n\n\n\n
Descriptors<\/strong><\/h3>\n\n\n\n
If you include descriptive words in your company name, you\u2019re clarifying the type and scope of service on offer.<\/p>\n\n\n\n
Is it clear and specialized, like \u201cRetirement Planning\u201d, or broad and all-encompassing, like \u201cFinancial Services\u201d? Does it suit the level of service you provide or plan to develop? Does it speak to a natural market, like \u201cFamily Wealth\u201d, or a service focus, like \u201cPortfolio Management\u201d? How long is it and how might it look physically in a logo (and anywhere a logo might appear)?<\/p>\n\n\n\n
Most often, it gets easier to choose a practice name once you have a clear vision for the business you\u2019re building. And it might not make or break your success, but it could help you in subtle ways you don\u2019t expect. <\/p>\n\n\n\n
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