News and resources for Canada's top financial advisors
Est. 1998
Even though a compelling value proposition will be the key to establishing yourself as a wealth advisor, most advisors don’t pay enough attention to developing a unique brand.
In short, your value proposition is a thumbnail sketch of your brand. It sums up the services you provide and the needs you meet in your business, in a clear yet short advertisement.
A good value proposition has a statement in two paragraphs or less that summarizes who you are, what you do, how you do it and why a client would benefit from dealing with you. It also has a tagline or short summary that you can use as an elevator statement.
This is how a value proposition might look like for a wealth advisor:
Who are we? We are professional wealth advisors with over 20 years’ experience helping our clients.
What do we do? We seek to understand the things in life that are important to our clients, and then we translate those opportunities, goals and concerns into a financial plan that meets their needs.
How do we do it? Once we have gained a full understanding of our clients and we have consulted our team of experts, we identify potential solutions to help build an ongoing plan. We have access to a full range of financial solutions that help you reach your short- and long-term goals.
Why should you deal with us? We work with you as your partners in tying your financial resources to your life needs.
Here are three more examples of solid value propositions.
1. “The goal of my practice is to work with my clients to help them identify their dreams and goals, and then partner with them to understand the financial implications of the life decisions they make. All the members of our team are committed to serving our clients as unique partners, requiring individual solutions and well thought out strategies to empower them to make their own decisions. Above all else, We value the relationships and trust that we build.”
2. “We believe in our clients’ ability to make their own decisions about the financial aspects of their lives, and feel we can best serve them by giving them the benefit of our experience and expertise. We will always view our products and services in terms of our clients’ needs, and we will continuously work with them to help them build the kind of future they desire for themselves. We do all this in the spirit of family values, life enjoyment and good fellowship.”
3. “When our clients give us their trust and confidence, we return their gift with our caring and commitment to help them in any way we can. We view our relationships with clients as true partnerships, demanding honesty, sharing and a joint search for ideas and solutions that will enrich their lives.”
Using taglines
A tagline can be used in an advertising campaign and provide a short statement that explains what you do. This is the phrase that you want clients to remember when they think about what you do.
Again, the same rules apply regarding the words you choose; the more of a financial focus you take, the less of a differentiator and brand reinforcement your tagline will be. Here are some examples of successful taglines.
Whatever you say, your tagline should remind your clients that you are not like other advisors. The rule of thumb is that if another advisor can say the same thing, your statement doesn’t differentiate you. Make sure your listeners understand that you are unique and that they should deal with you because they are unique!
Barry LaValley is president, The Lifefirst Approach. He is one of the leading experts on wealth management positioning in North America and works with clients in Canada, the U.S. and Mainland China. Barry’s wealth management communications and marketing program can be accessed through the Canadian Securities Institute’s CH.P program and additional information can be found at his site www.lifefirstapproach.com.
(07/06/09)
Even though a compelling value proposition will be the key to establishing yourself as a wealth advisor, most advisors don’t pay enough attention to developing a unique brand.
In short, your value proposition is a thumbnail sketch of your brand. It sums up the services you provide and the needs you meet in your business, in a clear yet short advertisement.
A good value proposition has a statement in two paragraphs or less that summarizes who you are, what you do, how you do it and why a client would benefit from dealing with you. It also has a tagline or short summary that you can use as an elevator statement.
This is how a value proposition might look like for a wealth advisor:
Who are we? We are professional wealth advisors with over 20 years’ experience helping our clients.
What do we do? We seek to understand the things in life that are important to our clients, and then we translate those opportunities, goals and concerns into a financial plan that meets their needs.
How do we do it? Once we have gained a full understanding of our clients and we have consulted our team of experts, we identify potential solutions to help build an ongoing plan. We have access to a full range of financial solutions that help you reach your short- and long-term goals.
Why should you deal with us? We work with you as your partners in tying your financial resources to your life needs.
Here are three more examples of solid value propositions.
1. “The goal of my practice is to work with my clients to help them identify their dreams and goals, and then partner with them to understand the financial implications of the life decisions they make. All the members of our team are committed to serving our clients as unique partners, requiring individual solutions and well thought out strategies to empower them to make their own decisions. Above all else, We value the relationships and trust that we build.”
2. “We believe in our clients’ ability to make their own decisions about the financial aspects of their lives, and feel we can best serve them by giving them the benefit of our experience and expertise. We will always view our products and services in terms of our clients’ needs, and we will continuously work with them to help them build the kind of future they desire for themselves. We do all this in the spirit of family values, life enjoyment and good fellowship.”
3. “When our clients give us their trust and confidence, we return their gift with our caring and commitment to help them in any way we can. We view our relationships with clients as true partnerships, demanding honesty, sharing and a joint search for ideas and solutions that will enrich their lives.”
Using taglines
A tagline can be used in an advertising campaign and provide a short statement that explains what you do. This is the phrase that you want clients to remember when they think about what you do.
Again, the same rules apply regarding the words you choose; the more of a financial focus you take, the less of a differentiator and brand reinforcement your tagline will be. Here are some examples of successful taglines.
Whatever you say, your tagline should remind your clients that you are not like other advisors. The rule of thumb is that if another advisor can say the same thing, your statement doesn’t differentiate you. Make sure your listeners understand that you are unique and that they should deal with you because they are unique!
Barry LaValley is president, The Lifefirst Approach. He is one of the leading experts on wealth management positioning in North America and works with clients in Canada, the U.S. and Mainland China. Barry’s wealth management communications and marketing program can be accessed through the Canadian Securities Institute’s CH.P program and additional information can be found at his site www.lifefirstapproach.com.
(07/06/09)
Industry interests preclude compensation changes, so advisors must take a stand and commit to doing what’s right
By John De Goey |April 18, 2024
3 min read
Research and a case study help clear the misconceptions
By Ben Felix and Aravind Sithamparapillai |March 20, 2024
5 min read
Active listening and asking the right questions are key to checking on clients' sense of well-being
By Jonathan Got |February 28, 2024
3 min read