I have worked in a big bank (Barclays) and have run the IFA that probably has the most recognised name, Chase de Vere FS, although even its recognition levels are very low. So the article is right in saying that “IFA” is any and every IFA’s real branding.
But you do not develop a brand, you deliver a customer proposition. A brand is simply a mirror that you hold up and in which you see yourself reflected by the public.
If we do not like what we see, then we have to evolve – not easy, when the last several years have been about survival for many, but necessary if we are to build a brand that is universally recognised and respected.
Many banks talk about being different but they are not and customers see them as all being the same, save, perhaps, First Direct.
Tesco wanted to change and it did.