In 2020, Hightower Advisors changed its authentic branding and tagline, “Hightower … an unobstructed view,” which sought to draw wirehouse monetary advisors and emphasised that the agency’s advisors are fiduciaries.
As an alternative, Hightower’s rebranding and tagline — well-th. rebalanced. — expands the definition of wealth to all points of 1’s life.
“What makes you are feeling wealthy inside might not be simply cash,” Hightower’s chief advertising officer, Meghan McCartan, says in an interview with ThinkAdvisor.
Within the interview, McCartan explains that the rebranded tagline, a conversation-starter with prospects and shoppers, signifies that Hightower isn’t strictly about investments.
Meaning extra alternatives for advisors to discover a number of points of a consumer’s life, particularly regarding bodily and psychological well being.
“It’s the entire image of what makes you are feeling full inside,” says McCartan, who has greater than twenty years of business advertising expertise. This features a stint as director of selling at MetLife Monetary Companies and operating her personal consultancy for 14 years.
Evaluating monetary advisor advertising right now to that of 10 or 20 years in the past, she notes that shoppers “need to know who [advisors] are as an individual.”
Hightower’s rebranding has been such a success, McCartan says, that even the monetary advisors who had been initially sluggish to heat to it now embody the tagline of their blogs and “have made it part of their mantra.”
ThinkAdvisor lately interviewed McCartan, who was talking by cellphone from her base in Guilford, Connecticut. Listed here are excerpts from our interview.
THINKADVISOR: What does Hightower’s rebranding and tagline, “well-th. rebalanced.,” imply?
In our view, wealth is greater than cash and investments. It’s the entire image of what makes you are feeling full inside.
And what makes you are feeling wealthy inside might not be simply cash.
How does it distinction with the branding it changed?
The outdated tagline was “Hightower … an unobstructed view.” That alluded to advisors with the ability to have conflict-free investments.
When Hightower began, it was [targeting] advisors leaving the wirehouses, the place they had been pressured to promote sure merchandise and weren’t in a position to act as fiduciaries — [that is], in one of the best curiosity of their shoppers.
Once they got here to Hightower, they had been in a position to do what’s proper for shoppers as a fiduciary. Hightower [focuses on] a complete monetary plan.
Because the agency advanced, we had been much less about merely investments and moved to the wealth idea: That’s extra than simply investments however holistic well being and your complete image of all the pieces that goes into making you rich.
How does “well-th. rebalanced.” encourage advisors?
It opens the door to conversations which can be extra than simply about investments. Step one is why we spell it that manner.
Then it’s about that your monetary well being positively contributes to your psychological well being and your general well being.
How do these items work collectively? The place do we have to focus to get you on monitor in your targets?
Your targets might not merely be a quantity in a retirement account.
Does the “well-th. rebalanced.” branding resonate with shoppers who aren’t rich financially?
That’s what’s type of cool: It opens the door to occupied with your entire life and what number of totally different items are a part of it.
For instance, it opens up conversations about psychological well being. We now have a collection during which we’re speaking with quite a lot of therapists, psychologists and medical suppliers.