Corient, the new brand name of CI Private Wealth, is being greeted with an initially positive reaction from some members of the financial services industry.
The wealth advisory firm's new name was derived from "client oriented" and "expresses the firm's commitment to providing its clients with an unparalleled wealth management experience," the Miami-based subsidiary of Toronto-based CI Financial Group, said in announcing the rebranding on Tuesday.
Corient now serves as the brand for all CI Private Wealth offices, the company said, noting it "discontinued co-branding with its legacy firm names, effective immediately."
The move, it said, "reflects the ongoing integration of Corient's predecessor companies into one cohesive" registered investment advisor firm.
CI's rebranding followed the recent name change of Riskalyze to Nitrogen and Advisor Group to Osaic.
Industry Reaction
In the case of CI, "the timing for a rebrand does seem logical, given the unification of the various entities" at the firm, according to Rob Farmer, managing director and head of communications at The Rudin Group.
"Also, there is less risk of unwinding the brand equity of CI in the U.S. given its short tenure here," Farmer told ThinkAdvisor on Friday. "The new name will probably take hold soon enough. I do still chuckle at these 'multi-step' processes branding agencies come up with to put two words together to form one new word."
"I appreciate the creativity behind shortening 'client oriented' to Corient," said Kelly Waltrich, co-founder and CEO of Intention.ly, a consultancy firm for financial services and fintech companies.
"I think that lends itself nicely to a brand story built around client centricity," Waltrich told ThinkAdvisor on Friday. "More than that, I appreciate the thoughtful connectivity between the name and the streamlining of the brands across the firm among all the other changes they have underway."
She added: "The best rebrands are the lipstick on much larger internal transformations, and it feels like that's what's happening here."
Offering a different but still positive take on the brand change, Timothy Welsh, founder and president of consulting firm Nexus Strategy, told ThinkAdvisor on Friday: "This isn't so much of a good or bad decision. Rather it was a 'have to' decision."
