Many financial advisors and firms puzzle over naming their own practices. If you are planning to launch a new firm, change its name or customize  your practice, you may find the naming exercise challenging. After all, a good name like the practice itself  will live on 20 or 30 years or more. We have crossed paths with RIAs and financial advisors of every stripe – from one-rep operations to large asset managers – and many in between.  Successful names tend to follow one or more of these common naming conventions:

1. Eponymous names.  Name the practice after yourself. For a financial advisor who is well known and also the founder and principal, he or she can keep it simple: McGillicudy Associates, Mcgillicudy Capital Management and so forth. These are suitable and memorable. But when multiple Advisors join forces, they often find the name is too limiting.  McGillicudy-Harris is okay; but adding too many more names muddles the meaning and makes it hard for clients to remember. Law firms are required to use their names; you are not.
2. Local names.  Most advisory practices draw clients from the local region, so why not choose a beloved local symbol for your practice? Be careful – how many variations of Peachtree Partners or Pacific Palisades have already been claimed by your neighbors? Take time to consider whether the imagery is compatible with a financial practice. Beware the double entendre (Big Gulch Financial?). And has the name been over-used to an extent that your name will not stick with people (Seaside, Oceanview, harbor, river, lakefront, etc.).  
3. Descriptive names.  Choose a name tied to your investment methodology or your planning mindset to give prospects a window into your core business approach. When you have services that separate your firm from others, say so.  On the other hand, it’s not a good idea to call yourself Smith Trust Company unless you offer trust services or Harris Planning Associates if you do not have CFPs® on staff.  
4. Branded names.  Large asset managers often create new brands when standard names have been exhausted. The names Genspring, Altegris and myCEO have been created, branded and made memorable. These names are often remembered for their uniqueness and are unlikely to be claimed by other firms. Needless to say, branded names should be trademarked to be protected.

Whichever name you choose, be sure to check conflicts via Web search at least ( if not order a full trademark name search – recommended for firms offering their services nationally). Also, do reserve the available URLs so that your web site name can easily match up with your business name. Naming your business is an important step that lends insight into your professional values and personality. If all goes well, your name should stand the test of time. Think through these naming conventions in the context of your core beliefs and carry that distinction above the doorway of your advisory practice.  May your new identity become you.

LederMark Communications is a financial services marketing firm that helps advisors, portfolio managers and firms grow their businesses with effective marketing strategy and communications.