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 a substitute, Hightower’s rebranding and tagline — well-th. rebalanced. — expands the definition of wealth to all features of 1’s life.
“What makes you are feeling wealthy inside will 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 purchasers, signifies that Hightower shouldn’t be strictly about investments.
Which means extra alternatives for advisors to discover a number of features of a shopper’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 trade advertising expertise. This features a stint as director of selling at MetLife Monetary Companies and working her personal consultancy for 14 years.
Evaluating monetary advisor advertising right this moment to that of 10 or 20 years in the past, she notes that purchasers “wish to know who [advisors] are as an individual.”
Hightower’s rebranding has been such successful, McCartan says, that even the monetary advisors who have been initially gradual 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 telephone from her base in Guilford, Connecticut. Listed below 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 will 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The outdated tagline was “Hightower … an unobstructed view.”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 have been compelled to promote sure merchandise and weren’t capable of act as fiduciaries — [that is], in the most effective curiosity of their purchasers.
Once they got here to Hightower, they have been capable of do what’s proper for purchasers as a fiduciary. Hightower [focuses on] a whole monetary plan.
Because the agency advanced, we have 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 the whole lot that goes into making you rich.
How does “well-th. rebalanced.” encourage advisors?
It opens the door to conversations which might be extra than simply about investments. Step one is why we spell it that method.
Then it’s about that your monetary well being undoubtedly 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 on your objectives?
Your objectives could not merely be a quantity in a retirement account.
Does the “well-th. rebalanced.” branding resonate with purchasers who aren’t rich financially?
That’s what’s form of cool: It opens the door to enthusiastic about 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 through which we’re speaking with numerous therapists, psychologists and medical suppliers.
