What’s in a financial advisory firm’s name?

Paul Baumbach had pet mallard ducks as a kid, so when it came time to name his own financial services firm, he dubbed it Mallard Advisors LLC.
While many financial advisers use the founding partners’ surnames when determining the firm’s title, some have crafted quirky company names based on their own experiences and personalities. For inspiration, advisers contacted by Shop Talk have used everything from William Shakespeare to wine.
One benefit of going with an unusual name is that it can break the ice with potential clients. Mr. Baumbach’s case claims his firm’s name is always a conversation starter. While he no longer has ducks, he says clients get a kick out of hearing about how he grew up with the birds as pets.
“Instead of having cats and dogs, I have pictures of me with a crew cut and a few little mallard ducks in the background,” said Mr. Baumbach, whose firm manages more $100 million in assets.
Instead of ducks, Frank Moore’s inspiration was wine. When he was looking a cheap place to rent, he looked at an old winery in Farmington, Mich.
The gigantic wooden wine vat had been converted into office space, but the hole in the ceiling where the wine used to flow through had never been covered up.
Needless to say, Mr. Moore got the place cheap.
He and his wife were their early 20s when they started the business, and they wanted a name that conveyed an established office. So, they came up with Vintage Financial Services LLC, which now manages $125 million in assets.
“It sounded more distinguished and established for a couple of kids,” he said.
But he also admits that while he may have an occasional glass of wine, he’s not a wine connoisseur by any means. But the firm’s name helped convey a sense of establishment.
Kevin M. Reardon also wanted a firm name that would convey longevity. So he chose an author whose words have rung through the centuries and named his firm Shakespeare Wealth Management Inc.
“I hope the financial advice we give to clients withstands the test of time and benefits their family for generations to come, just as the Shakespearean works have withstood 400 years and still contribute to the literary world,” he said.
His firm manages more than $50 million in assets. He liked using the name Shakespeare because it also appeals to more affluent clients. He also admits that he’s not a Shakespeare buff by any means.
“I do like Shakespeare but don’t ask me to quote him. I’m not reading Hamlet at night. I’m not a Shakespeare fanatic,” Mr. Reardon said. “It was done from the prospective of appealing to a certain clientele and appealing to clients.”
Jeff Waters took his inspiration from his own finances, which were a mess, simply because he’d neglected them for years. He had worked as an institutional salesman on Wall Street for 17 years, and realized when he left the job that while he had enough assets, he had never completed many necessary steps to get his finances in order.
He also knew many former co-workers were in the same position. He named his firm OFC Financial Planning LLC which stands for “Order from Chaos.”
“The people I was around were making millions a year but they weren’t doing the stuff they needed to be doing with their finances,” said Mr. Waters, whose firm oversees some $20 million in assets.

Shop Talk is a regular column detailing how financial advisers run their businesses. The column focuses on unusual or innovative ways to attract more clients. Suggestions or tips for Shop Talk? Please e-mail [email protected] or visit the Shop Talk page at www.investmentnews.com/shoptalk