Thoughts/Comments on my potential new logo.

[number11]

Cheers G,

All very valid points. I think in hindsight I should have thought a bit more about the name when registering it. I am now all but done with the FSA process under that name so might be too far to turn back now.

I worked initially on the principal of using my own name as I think I have a good name with past clients etc and I wanted new clients to know that they are dealing with the top man so to speak (All be it the only man)

The only thing I would say I guess which gives me some comfort is that the bulk of IFA's are one/two man band - You do get your multinationals AWD for example but there is not much inbetween.

Gives me plenty of food for thought for the weekend......

Dave, you can still use something else as a trading name as long as the registered company name is still reflected on the paperwork.....

I understand what you are saying about dealing with the top man, but equally it may too readily portray you as a one man band. I personally would probably feel more comfortable with a slightly larger firm unless there was a direct recommendation. For instance if I was just dealing with Dave Baker of Dave Baker Limited, I just think its a one man band and I am dealing with the one man. If I deal 'A.N. OTHER IFA' and speak with Dave Baker, Director, / senior partner etc, then I think Im dealing with a decent size organisation and with a particular adviser who has risen to the top by virtue of their ability rather than resources.......

 

[South Bank Hank]

Cheers mate,

Has got me thinking I have got to say.

Well let me push you a bit harder then. Your business planning is far too important to rule anything out just because you've already gone through a bit of a process. If you're already looking back with a degree of questioning hindsight, then remember it's going to be a darn site easier to change something NOW than it will be in 3 months, 6 months, 1 year, etc when you've totally committed.

Certainly worth a chat with the FSA if you're even open to changing your mind?

On Mark's point above about being a Director/Senior partner of a seemingly much larger firm, the internet, mail-forwarding houses and call-answering services also make it incredibly easy to promote a perception of your business being much larger and more established than it already is. Definitely worth exploring to see how you can take advantage.

 

[DTS]

Dave, you can still use something else as a trading name as long as the registered company name is still reflected on the paperwork.....

I understand what you are saying about dealing with the top man, but equally it may too readily portray you as a one man band. I personally would probably feel more comfortable with a slightly larger firm unless there was a direct recommendation. For instance if I was just dealing with Dave Baker of Dave Baker Limited, I just think its a one man band and I am dealing with the one man. If I deal 'A.N. OTHER IFA' and speak with Dave Baker, Director, / senior partner etc, then I think Im dealing with a decent size organisation and with a particular adviser who has risen to the top by virtue of their ability rather than resources.......

Mmmm - the plot thickens.....

Right this is serious think time this weekend.

 

[DTS]

Well let me push you a bit harder then. Your business planning is far too important to rule anything out just because you've already gone through a bit of a process. If you're already looking back with a degree of questioning hindsight, then remember it's going to be a darn site easier to change something NOW then it will be in 3 months, 6 months, 1 year, etc when you've totally committed.

Certainly worth a chat with the FSA if you're thinking of changing your mind?

Yes agreed - Will have a think over the weekend.

 

[Hotman]

Dave, you can still use something else as a trading name as long as the registered company name is still reflected on the paperwork.....

yes, but a word of caution - it is likely you will need to register another "trading name" with the FSA underneath your main registration. i've had to do the same with one of my businesses and register another name with their institute - cost about £800 but a necessary expense unfortunately.

 

[Hotman]

Well let me push you a bit harder then. Your business planning is far too important to rule anything out just because you've already gone through a bit of a process. If you're already looking back with a degree of questioning hindsight, then remember it's going to be a darn site easier to change something NOW then it will be in 3 months, 6 months, 1 year, etc when you've totally committed.

Certainly worth a chat with the FSA if you're even open to changing your mind?

On Mark's point above about being a Director/Senior partner of a seemingly much larger firm, the internet, mailing houses and call-answering services also make it incredibly easy to promote a perception of your business being much larger and more established than it already is. Definitely worth exploring to see how you can take advantage.

Absolutely, and this is why I'd suggest registered office addresses, call centres etc. Worth their weight in gold. However, not the "St Johns Street EC1" that everyone seems to have!!

 

[DTS]

Looking at google for IFAs in my local area.

Fisher Brown IFA
maps.google.co.uk - 01444 458 232 - More

Mike Oliver IFA
maps.google.co.uk - 01444 449 220 - 1 review

Davidson Financial Solutions
maps.google.co.uk - 01444 474 801 - More

The Cavanagh Group
www.cavanagh.co.uk - 01444 475 400 - More

Positive Solutions
maps.google.co.uk - 01444 443 838 - More

Wise Investments
www.wise-invest.co.uk - 01444 831 318 - More

Kinetic Finance
maps.google.co.uk - 01444 417 828 - More


None of them really seen to stand out as such. Where I am a bit lost is "Is an IFA really looking for a flashy name? I think in Andys case you need to be flash as your in marketing but in FS do you want to be a bit more steady and solid?

Would I really go with say Kinetic Finance (What does that mean) rather than say Mike Oliver IFA? It sounds bigger but then I fear I might get a call centre and not a professional?

 

[Hotman]

Name isn't the biggest concern IMO, as your decent business (rather than time wasters) will come from professional referrals. That's where you need to focus your efforts.

also consider split branding, one such as kinetic for the internet, and DWB for the more "old school" image. With reg'd offices and call centres you can do this for little more cost, and see which is more succesful.

 

[Cricko]

Meerkat Finance then it is .....all the advertising has already been done for you..;)

 

[DTS]

Name isn't the biggest concern IMO, as your decent business (rather than time wasters) will come from professional referrals. That's where you need to focus your efforts.

also consider split branding, one such as kinetic for the internet, and DWB for the more "old school" image. With reg'd offices and call centres you can do this for little more cost, and see which is more succesful.

That is what my wife said in fairness

I dont really see myself advertising in the papers etc as I know the success rate having been part of a s/e partnership before is about 0.1%

Nor am unlikely to do google ad words etc as a) cost is a bit prohibative and b) not really the best way of getting business.

I would see 95% of business coming from introducers and hopefully in time recommendations etc but then everyones point about "can only really ever be me in the business" as such does make total sense.

 

[Hotman]

one of my mates is running an ifa firm with 8 staff.

Ultimately I'd advise you to look towards building a solid brand and reputation in the area, then leveraging this by acting as a franchise (i think the fsa term is umbrella) where you employ administrators to look after the admin of your franchisees for a substantial fee.

It'd be hard to do this as Dave Baker IFA.

 

[DTS]

one of my mates is running an ifa firm with 8 staff.

Ultimately I'd advise you to look towards building a solid brand and reputation in the area, then leveraging this by acting as a franchise (i think the fsa term is umbrella) where you employ administrators to look after the admin of your franchisees for a substantial fee.

It'd be hard to do this as Dave Baker IFA.

Point taken....

I think I will call the FSA Monday to see what my options are.

MC? Assuming I started as some form of my name then how hard would it be to change later to another name later on.

 

[DTS]

Where has Hanks post just gone. It was a good read too.

 

[South Bank Hank]

...
None of them really seen to stand out as such. Where I am a bit lost is "Is an IFA really looking for a flashy name? I think in Andys case you need to be flash as your in marketing but in FS do you want to be a bit more steady and solid?

Would I really go with say Kinetic Finance (What does that mean) rather than say Mike Oliver IFA? It sounds bigger but then I fear I might get a call centre and not a professional?

Where has Hanks post just gone. It was a good read too.

Hmm... I took it down as I'm not sure it captured what I was really trying to say, but here it is anyway.

[SBH]There's some truth in what you said above about call-centres versus personal service definitely, but I still think you're currently thinking as an IFA rather than someone looking for assistance in a minefield of information or a solution to a specific problem. It's not about flashy names - Kinetic Finance is no better to me than Mike Oliver IFA. It should be more about putting yourself in the shoes of your prospective customer and using your brand to SHOUT out to them that you can solve their problem.

MC is correct too that it shouldn't be just about the name as the majority of your business should come from referrals.

However...

Look at the success of "Dummies Guides" and "Idiots Guides" as an example. Beyond our usual branding considerations (big capable company, small personal service business, etc), all people ultimately want is the answer or solution. Imagine your business as a painting and decorating service. You want a room painted. Who would you call?

• John Smith Ltd
• Fuss-less Interiors
• Clean and Tidy Painters and Decorators

I might call all of them if they were advertising in the right place, but I know I'd call the third one first. If I saw their names on the back of a van with no surrounding context, the third would win out every time.

How about these?

• Richard Smithers Ltd
• Richard Smithers IFA LTD
• Mortgages Made Easy Ltd
• Plain Speaking Pensions Ltd
• Help With My Money Ltd

That's probably not what your industry has traditionally done. But that doesn't make it wrong. In fact, it's exactly what makes it RIGHT!

There may of course be naming conventions that your industry doesn't allow.

 

[Cricko]

Where has Hanks post just gone. It was a good read too.

Only G can delete his own post....so what one is missing...and I guess you have given up on Fasto's idea?

 

[DTS]

Hmm... I took it down as I'm not sure it captured what I was really trying to say, but here it is anyway.



If you substitute the word BRAND for name, you'll be on the right lines.

I can see totally what your saying - not sure what stage I am at with the registration but I do totally get your point.

Who says you cant learn something on the zone???

 

[Hotman]

Point taken....

I think I will call the FSA Monday to see what my options are.

MC? Assuming I started as some form of my name then how hard would it be to change later to another name later on.

companies house costs a tenner and one simple form

fsa will cost far more with more complex forms i imagine

reputation / branding - depends how far along the way you are, but this is hardest to quantify

 

[steveo]

MC? Assuming I started as some form of my name then how hard would it be to change later to another name later on.

Problem with that being if the business took off under your name then you had to change it, you would be starting over name wise. I think you need to stick with it or change it before you start.

The house logo looks ok but why have a small house in a house logo. How about an welcoming open door?

 

[MK Shrimper]

How about something like this? Maybe edit out the faces?

 

[Tinks]

I have to say that the green is far more eye catching than the blue and the green looks warmer and more gentler on the eye.