Repositioning a longstanding brand to fully leverage new, transformative acquisitions
In financial services, standing apart—and standing above—can be particularly challenging, as competitors increasingly broaden their offerings and target new audiences. This challenge is magnified by the ever-present need to inspire confidence in outcomes without appearing to promise future performance. For some competitors, focusing on relationships can instill confidence. For others, a brand built around process may provide reassurance. But for all financial services companies, understanding the motivations and concerns of a broad range of people, from investors and intermediaries to partners and employees, is key to success.
Can a legendary brand be a bad thing? That was the question facing Guggenheim Partners when it set out to evaluate its long-standing brand. The firm struggled to identify the relevance of the Guggenheim name to today’s investors. How does association with a 150-year-old family, no matter how illustrious, benefit a 21st century investment manager?
We talked to Jaime Kalfus, Global Head of Brand Experience for J.P. Morgan Asset Management, about how she and her team view a successful brand launch as a journey, not a destination.
Depending on your outlook, the financial services industry is either an incredibly scary or extremely exciting place to be. More than any other industry, financial companies are facing a paradigm shift brought on by the perfect storm of digitalization, increased regulatory scrutiny and changing demographic profiles and preferences of both clients and workforce.