Market Commentary: Marketing Madness in the Central Lowlands -- abrdn

Spot the Link to Scotland

 

A relatively large amount of ink – both real and electronic-- has been spilled of late over Standard Life Aberdeen’s adoption of a “new” trendy identity.

Just the step you’d probably expect “futurists” would take.

I have my own opinion on this sad affair.

When I think of the Scots, I picture thrifty, hard working, sensible people, who can have a bit of fun. “Laugh with the devil” and be as “gentle and prickly as our own downy thistle”.

“arbdn” doesn’t “fit” that impression.

Contrary minds might cite “Irn-Bru” to counter my ill-tempered judgement..

But that (the name not my judgement) arose for copyright and brand identity concerns. Sensible marketing..

Rather than piling on abrdn, I want to focus on the apparent pernicious effect of marketing in this matter. Because the name doesn’t seem to be accompanied by typical consultancy advice on strategy or structure.

But rather merely placing the old wine in new skins.

To set the stage a quote from a recent FT article on the topic.

But Manfred Abraham, joint chief executive of Yonder Consulting, said Abrdn was the first branding change in wealth management “befitting of the fintech revolution”.

He added: “Asset management brands are all very homogenous and traditional.

“Abrdn has the feel of a Monzo or Starling — and that opens the door to the inner workings of the company modernising too.”

And my reaction.

I’m not sure what abrdn or its new logo have to do with fintech.

It could just as well be a competitor to Airbnb. Or a new fast food restaurant. Perhaps the result of a corporate “coupling”.  

Or perhaps signage in an airport or tube station.  This way to the "abrdn".

There is a reason why why asset management firms have traditional names. To convey the impression that they are sensible careful people who you can trust with your money.

That being said, there is clearly a market for investments for those who like to take a punt on delusion. Hopefully, abrdn is not targeting this group.

As to other names …

When I hear the name “Monzo”, I think of “gonzo”. Or perhaps the nickname of a loan shark. Not a proper bank.

In the former North American colonies, starlings are about as well respected as their “cousins” pigeons -- “rats with wings”.

Whatever one’s view of this species, it’s hard to connect either bird with “fintech” or finance. Perhaps with bicycles?

That leads to the name of the company commenting on the change: “Yonder”.

A firm with this archaic name would not appear to be on the “bleeding edge” of the marketing “space”. One not inhabited by “tiger teams”.

It’s not a legacy name.

There is no eponymous founder, Anthony Charles Brakewell Yonder, OBE, the English David Ogilvy.

Yonder is of more recent vintage.

Formed in October 2020 out of four companies to “create a new consultancy proposition”. Whose truth value perhaps remains undetermined to this day. At least it’s not a conjecture.

After the apparent application of their unique skills and insights, they actually chose this name. It may come then as no surprise that “abrdn” also is melodious to their ears.

It is not a unique name. Not an Exxon or Exelon.

Rather you will find a variety of other “Yonder” companies across the globe. Or as we might say surveying the field “yonder lea, yonder lea”.

So much for brand identity.

Physician, heal thyself.

“YNDR”? Redyon? Ekeipera?

I don’t know how to react to the last comment about these names “opening the door to the inner workings of the company modernising too”.

Many of the great advances in business babble have come to us from the “science” of marketing and consultancy. As well I will admit valid insights, but perhaps less often.

SuqAlMal Career Advice -- Manage Your Personal Career Like Big Successful Corporations

 

AA Started Learning from Others on His
First Day as an Analyst at MegaBucks Firm

Did you ever wonder how I got this prestigious position at SuqAlMal coupled with a fast paced highly remunerative career in finance?

Besides my innate abilities and willingness to put in the hours, I wasn’t too proud to learn from the successes of others as the above archival picture demonstrates.

And apply what I found to my own career.

It is a uncommon occasion indeed when I share some of those career lessons.

Consider yourself lucky. Today is definitely one of those rare days.

As we all know, or think we do, major corporations have discovered secrets to success.

Sometimes a putative business leader “genius” will put his wisdom down in one of the many tomes you’ll find in the business books celebrity section at your local bookstore.

Sometimes an academic will distill these lessons into a path to excellence.

But what if this does not happen for whatever reason?

If we look closely at companies we can discover these “success” principles and strategies on our own. We can tease them out of their actions.

More than that, we are likely to find those principles and strategies that they are trying to keep for themselves!

Once we have a hold of them, we can apply them to our own careers.

Here are two sure-fire ways to increase your bonus this year:

1. Claim a 2021 bonus based on potential highly lucrative business you will obtain in the future from existing or potential future clients that are currently unknown. (This tactic is known among the cognoscenti as the “Blueridge” or “Liberty Primary” gambits).
2. Add credibility to that claim by committing that by 2050 you will have reduced your incidence of “lost” pitches to zero. (The Pitch Climate Improvement Plan).

With these two simple tactics, you’ll be on the way not only to a larger bonus in your firm, but also it's highly likely you’ll be identified as someone with leadership potential.

The Wisdom of Business Books

Black Friday An Important Part of the Celebration of Christ's Birth

The Purchasing of Mass Quantities at a Discount

Like the Red Cross after a disaster, each year AA visits the Mall after Black Friday to help clear up the damage and look for any shoppers trapped under the rubble. This year was no exception. A trip to the USA for Thanksgiving with family brought us back to familiar haunts.

This year with all the focus on-line sales the human tragedy and carnage were minimal save for the rise in carpal tunnel syndrome.

Charitable work done in record time, I nipped by the book store.

Whenever I need a “pick-me-up”, no need to head to the nearest pub. A visit to the bookstore’s Business Section allows me to reconnect with old friends and have some fun or a chuckle or two.

Look there’s Tom Peters with a new book with “excellence” in the title. That’s how many so far? I’ve “known” Tom for ages since I read “In Search of Excellence” some years back. He apparently found it and hasn’t stopped writing about it since then.

No purchase today. I’m holding out for “The Excellence of the Excellence”.

As I scanned the shelves, there he was Elon Musk arms folded with a determined look on his face. Gracing the cover of a breathless tome about how he, Bezos, and some business luminary whose name now escapes me were going to colonize space. Apparently, it’s true that the world is not enough.

It was clear that I was getting closer to the business celebrity section. My favorite section. Always good for a hearty chuckle or belly laugh.

Here was the accumulated wisdom of various captains of industry. Learn how to be an E Manager. Or if you’re a contrarian, learn that there are no E Managers..

Learn to Think Like a Billionaire. The alleged author of this tome’s fortunes seem to have risen with his foray into politics. From ship’s cook to ship’s captain thanks to a talented ghostwriter and a gullible public 

As they say, those who can, do. Those who can't, write books offering advice on how to do it.  Or perhaps hire someone to write the book for them.

Books of quotes from Peter Thiel, Jeff Bezos. Inspiring lives, inspiring quotes. Words to live by.

Authors channeling the thoughts of famous departed leaders. Sun Tzu with advice for women businessmen. Genghis Khan.

Apparently even Jesus had a business leadership style and has some timely pointers on "how to make a payroll".  Who knew besides Jerry Falwell?

Visionary insights to be scooped up. More knowledge per square inch of shelf space than the entire Library of Alexandria.

A veritable collection of wisdom to rival The Great Books. To which sadly Hutchins and Adler lacked access.

My attempts to suppress a chuckle crumbled. I was laughing out loud.

A clerk who had been keeping me under close surveillance given my increasingly raucous browsing came over to ask if she could help

Yes, indeed.

Any “works” by Adam Neumann or about him?

Sadly none. Has he missed his fleeting chance to tell us how he made it “big” and how if we emulate him, we can also? Will his wisdom like that of Ammonius Saccas be lost for all time? Say it isn't true!

As I began to walk to the exit, my eye fell on a book “The Five Habits of Highly Effective Companies”. Incontrovertible proof that corporations are indeed people, though I suppose none was really needed.

Later at home I heard that McKinsey or Bain were planning to expand their consulting business to offer psychological counselling to firms perhaps after reading the above tome. Treating addictions, resolving traumas. 

Perhaps even those from past lives.  Or as we business experts call them "pre-merger incarnations". 

Good business and good works combined.

I paused to gaze upon the history and foreign policy books just before exiting. 

To my surprise I learned that Bill Gates has an annual “best” book list. A list that includes more than business or technology tomes.

As I left the store, I wondered what Bill recommended I have for dinner. Sadly, a question that remains unanswered to this very day.

Thankfully Madame Arqala usually makes this decision. Or I might have starved to death in the absence of Bill’s reply.