Warren Buffett once famously said that “your premium brand had better be delivering something special or it’s not going to get the business”.
And as a famous buyer of stocks with premium brands, he should know.
In today’s market the value of a brand in new business acquisition is more important than ever, with companies as large as Prudential claiming that brand strength was a significant differentiator during 2009.
The issue for many intermediaries is how to go about building a brand, yet many have superb histories that can form the springboard to brand value.
Consumers are increasingly looking to companies in the financial sector that can demonstrate a record of longevity and the strength to ride out the bad times.
A review of some of the most successful IFA brands in the country shows that this often forms the foundation of their brand value. In the immediate future, consumers are likely to be wary of anything that appears too revolutionary in the financial services world.
This represents a clear opportunity for established brokers to remind clients of the values that built their businesses.