Skoda Minotti and Benefits Resources Group, as part of a joint venture, envisioned private wealth management as a natural component to the comprehensive service approach offered by both companies. In 2006, they partnered to co-found a new private wealth management group and targeted January 1, 2007 as a launch date. In place already were their advisors, staff, office location and broker dealer. What they did not have was a name or a brand identity.
Understanding that company name = brand name, we selected the name Aurum. This name effectively tied and communicated the nature of the company to wealth, had a positive connotation and lent itself well to graphic presentation. Our research found Aurum, which means "gold" in Latin, to be a distinctive name that is easy to remember, pronounce and spell. It is also future oriented, positioning the firm for future growth and provided the flexibility for the addition of potential wealth management brand extensions. Additionally, the name could be owned and trademarked and possessed no domain name conflicts.
We wanted to create a tag line that would be a guiding principal describing the firm's brand essence and positioning. Advocates For Your Wealth does just that, while at the same time provides a unique statement creating an emotional response from the firm's target audience. Additionally, the tag line differentiates Aurum from it competitors and is easy to say and remember.
Aurum reports favorable brand awareness and that the name gives off the immediate perception of experience, which is advantageous for a new firm in this market space. Since 2007, Aurum's assets under management have outperformed the industry by 28% and the firm has reported revenues that out paced the industry by over 50%.