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Written by: Jeff Thorsteinson
In 1994, I began my career in this industry. When it came to becoming successful, the “Experts” of the day pronounced that we needed to dress like the advisors we wanted to be. Dress now as your future self. Well, given my goals, this was a very expensive proposition at the time! This notion extended to the pen I wrote contracts with and the car I “should be” driving if I wanted to be perceived now as the successful person I would be in the future. I watched colleagues buy cuff links and all sorts of haberdashery. Fancy pens were purchased, and luxury cars were leased. In other words, we were being trained to live the status lifestyle. So here we are about 30 years later. The industry has evolved, thankfully. Since 1994, we’ve experienced many ups and downs and very interesting and scary times. The matter of dress and perception of success has changed. The good news is that the notion of dress code has significantly become more flexible. Let’s briefly explore some ideas:
KNOW YOUR NICHE
If you work in the movie production or tech industry, you’re generally not going to be in a suit when meeting clients. A polo shirt and khakis won't cut it if you’re focused on HNW medical professionals, engineers, or other professionals. Addressing your dress is a no-brainer if you’re laser-focused on attracting a niche market. Just follow what you see, experience, and know.
KEEP A FULL SUIT IN THE OFFICE CLOSET
You're covered if you show up at the office in what you want to wear and are faced with a surprise meeting with someone you know requires “full business attire.” Don’t be caught unprepared.
ALWAYS BE JUST 1 STEP UP FROM THE CLIENT
In many cases, dress can be challenging to gauge. So, if a client is wearing a dress shirt, the advisor may want to do the same and pair it with a tie or a full-pant suit. Keep some basics at the office.
BANKER/BROKER
There will always be advisors and clients who feel full business attire is the only acceptable dress form.
ADVICE FOR JUNIOR ADVISORS OR ASSOCIATES
Always dress well and formally such that if you are put in a position to work with the lead advisor, who may or may not be dressed up or down. This way, the advisor won’t appear unprepared for a meeting, nor would the “team” be caught unaware. The good news is that you’re not expected to buy Brioni suits, use Montblanc pens, or show up in a luxury car. Be professional in what you wear and how you conduct yourself.
Dressing for your target market helps build confidence, trust, and comfort to be your best in the meeting. Given what we’ve gone through over the last five years, more flexibility has been acceptable, but who knows when or if that will revert to past norms.
Many things have changed since I started in the business. But one thing hasn’t changed. Dress appropriately for your ideal market. It will enhance your brand and efforts to build trust and credibility and create a comfortable environment for your ideal target client.
Related: Stop Sharing, Start Solving: Delivering Real Value to Your Audience