Clients may have a hard time recounting how they selected one professional over another, or what keeps them coming back to the one they picked. The answer often comes down to "whomever they liked better."

If we knew just what they liked, we would repeat the behavior—wear the same outfit or otherwise replicate the conversation—so that more prospects would become clients. But the most intangible product financial advisors sell is themselves. Even advisors who share their firm's name have a brand of their own. And if that's what they're selling, they should ask: What's in a brand? Peter van Aartrijk, managing director of consulting firm Aartrijk, can answer what branding is—and, just as important, what it's not.

"Brand is not a mission statement—that's just a reminder," van Aartrijk says. "Brand is not a logo or a slogan—those are signatures. Brand is not a product or a service, and it is not advertising either."

So, what is it then? "Brand is the reputation you develop-emotional bonds created by every interaction," he says. "Smart brand managers evaluate the entire customer, prospect and employee experience—from the way you answer your phone to the quality of your communications with clients to your reputation in the community."

Brands aren't built in a day, van Aartrijk says. But they can be ruined overnight. Consumers form impressions from every available piece of information. For all the brilliant brand-building campaigns financial services firms have waged, the damage done over the last year has taken a substantial toll.

You should tend to your brand-your own, or your firm's-with a concerted and sustained effort. "The key is to understand what makes your organization, product or service distinctive in the minds of its critical audiences," van Aartrijk says. Understanding your strengths, weaknesses, opportunities and threats is the first step.

Van Aartrijk enjoys this analogy in particular: The sign outside one Denver hair salon boasted "Haircuts $9." Across the street, a salon sign read: "We fix $9 haircuts."

So, what does your brand promise? Financial advisors can be distinctive, even if they aren't unique. Among the thousands of advisors I've met, the teams I remember most are the ones that took the time to establish a niche: a sociable husband-and-wife practice; a firm with precision-based client service and operations; an advisor who reinvested sale proceeds for venture partners. Each was grounded in a certain experience that supported the promise of the brand.

How well do you support your brand? Van Aartrijk suggests you rate your touch points on a scale of one to 10, with 10 as "rock solid." Look at these qualities: How are your office directions, parking, signs and receptionist? Each contributes to your client's office visit. Does your reputation reflect your brand? Rate your name recognition and what opinion leaders and current clients would say about you. Finally, how do you come across when a prospect visits your website, accepts your business card or reads your written communications? Your rating will demonstrate where you need improvement.

Jan Carlzon, who served as president of Scandinavian Airlines System during the 1980s and 1990s, wrote about corporate brands in his book Moments of Truth. He says that a "moment of truth" happens every time a customer interacts with a company, even if it's something as small as canceling a flight. Each of those interactions is a window of opportunity, Carlzon says. It may only last a few seconds but, it translates into whether you win or lose a loyal customer.

Carlzon's words resonate at a time when advisors need to reinforce their own brands. Clients are hurting and large financial services firms have been under fire. In an environment of uncertainty, your brand is one business component you can control.

GERRI LEDER is an industry marketing consultant and can be reached at leder@ledermark.com.