Strategically displaying your professional designations can help you build your business, says Alan Middleton, executive director with the Schulich Executive Education Centre at York University in Toronto.
“We live in a credentials-first world now,” Middleton says. “If you have any of the well-recognized ones, you’d be silly if you didn’t draw people’s attention to it — but in a way that they will understand what skills you have that others might not.”
Showing designations and explaining the well, Middleton says, can help you position yourself as an “expert” in your field and stay ahead of your competition.
The following are tips on how you can get the most from your designations:
> Assure your clients
The way you frame your professional designations will determine how useful they will be in helping you build a strong business, Middleton says.
For example, if you have completed benchmark industry credentials such as the certified financial planner (CFP), chartered life underwriter (CLU) or chartered investment manager (CIM) — or other prominent credentials such as chartered financial analyst (CFA) or master of business administration (MBA) – then don’t be shy about telling your clients the lengths you have gone to in acquiring those notations.
Explain what the certification process entails. Tell your clients that you have had to complete course work, exams and continuing education. This information should assure your clients of your commitment to our profession and your ability to manage their investments.
A word of caution, Middleton says: focus on legitimate, mainstream designations and avoid the so-called “Mickey Mouse” distinctions — such as “Fellow of the Financial Advisors who Get Together to Drink Beer on the First Monday of Each Month.”
> Bridge the generalist/specialist gap
Having a broad base of knowledge as demonstrated through your professional designations can enable you to position yourself as both a generalist and a specialist, depending on needs of your clients, says Sara Gilbert, founder of Strategist, in Montreal.
If, for example, you have a generalist qualification such as a CFP as well as a more specialized designation in an area such as insurance, you will be able to provide a wider range of services to your clients, Gilbert says. But your clients should know about your other designation, otherwise they might look elsewhere for insurance.
> Develop a strong COI network
Your designations can play an important role in your efforts to build a network of centres of influence (COI).
Use your designations to demonstrate your qualification and abilities to potential COIs, such as lawyers and accountants.
“It’s hard to build a relationship with an accountant who specializes in ultra high-net worth clients,” Gilbert says, “if you don’t show that you are qualified to work in the area.”
This is the second instalment in a two-part series on making the most of your professional designations.