10.16.23

What’s Behind the Industry’s Rebranding Trend

by: Briana Monsanto

A recent trend in the financial services industry has been toward branding, and the trend is expected to continue, say industry consultants. Earlier this year, Advisor Group announced it would operate under the Osaic banner to reap the benefits of consolidating its underlying brands. Meanwhile, Cetera Financial Group deregistered legal entity First Allied with the Financial Industry Regulatory Authority and absorbed it into its Cetera Advisors brand last year. The trend has caught the attention of registered investment advisor (RIA) firms as well. Toronto-based CI Financial in August announced that its U.S.-based wealth management business, CI Private Wealth, would be rebranded Corient in a measure to unify all of its U.S.-based RIA businesses. Mercer Advisors in January announced it was refreshing its brand to reflect a more “modern wealth management experience” with new messaging and imagery. Though the individual motives behind these rebrands vary, industry consultants agree their occurrence may be a residual effect of larger industry pressures, such as continuing merger and acquisition activity in the industry.

Read the full article on Financial Advisor IQ