GenSpring Family Offices - Repositioning to reflect business strategy
- Situation: Under-recognized capabilities
- Services: Brand Strategy, Name, Identity, Visual System, Website, Presentation material
- Results: Pre-emptive positioning; increase in new clients; new nomenclature within the industry
The family office advisement business owned by SunTrust bank was known as Asset Management Advisers. Management felt that the company name did not communicate the richness and breadth of what the organization provided...the ability to 'sit on the same side of the table' as their clients and help them with important issues surrounding sustaining family wealth. Based on understanding management's vision and the unique characteristics of the business and how it differed from competition, we created the brand strategy and name that drove how the brand would be shaped. Our design partner shaped a new identity, visual system, website and other supporting collateral. One part of the brand strategy was to identify, for the first time in the category, that GenSpring was in the business of advising family offices. Contrary to industry practices, we recommended the bold step of putting “Family Offices' in the name. This has subsequently changed the industry nomenclature, and is now being copied by primary and secondary competitors.