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More advisors should have beards. As most advisors have little to no brand, having a beard is a great way to set yourself apart and grow your business.
What a beard says about you
After being contacted by advisors who have beards asking my opinion on them, I became curious about the role of beards in financial services. Being deeply in love with my partner Antonio (who is 100% clean-shaven) for so many years, I never had any reason to pay attention to any other men or their facial hair. But this subject gave me an excuse to do so!
Boy, I sure hope my man isn’t reading Advisor Perspectives today!
Researching this article while riding on the NYC subway one day, I took it upon myself to look around at how many men actually have facial hair of some sort. I counted at least six bearded men in my segment of the subway car alone!
Consider these two seemingly disproportionate figures (as per Next Luxury).
- 55% of men in the world have a beard or facial hair
- 98% of the men on the Forbes 100 list do not have facial hair
From this staggering incongruity, we can infer the following:
If beards are so strikingly uncommon among the ultra-wealthy as opposed to the population at large, wouldn’t it be quite attention-grabbing for an advisor to wear a beard while among affluent company?
It would be rare, according to this data. And there you have it!
Attention is the first step in making the sale happen. A beard that attracts affluent people’s attention, as facial hair is rare in their circles, is a brilliant marketing tactic.
Should you stop shaving?
Should you grow a beard? Just like your choice of dress, hairstyle and office space, it depends on the brand you want to create.
A beard shows a ton of personality, and makes a bold statement about your brand. Beards tend to convey an impression of sagacity and experience -- and of course, it is the ultimate sign of masculinity.
Did you know that anyone in the NYPD or the New York Yankees can’t have a beard? Even if the people in your circles accept your beard they is going a person or two that isn’t a fan. They’ll never it say it outright. You’ll probably get something like, “Oh, I didn’t realize you grew a beard,” or “That’s some beard!”
Silence.
But don’t the occasional naysayer discourage you. Other than making you appear wise like the Greek philosophers, beards may have some health benefits. They provide resistance to the sun and may be a welcome abstinence from shaving for those who have easily irritated skin or ingrown hairs.
Beards are also tremendous time savers. Did you know that the average man spends over 3,300 hours shaving over his lifetime? (Cornwell, n.d.) Now wouldn’t you rather spend those three thousand hours on LinkedIn trying to get big shots to pay attention to you, which they’d be more likely to do once they catch a glimpse of your snazzy mug shot complete with a Stiletto beard?
Make your beard a marketing tool
If you want your beard to help grow your business, it’s not going to happen on its own. You’ll have to fight for the beard’s marketability.
- Trim your beard at least weekly, apply beard oil, and make sure food doesn’t get caught in it after a meal. For the latter, I suggest carrying around a pocket mirror.
- If you’re coloring the hair on your head, don’t forget to also color your beard and make sure the two colors match.
- Even though you’re not shaving like you used to, there are a few areas you still have to fight to keep clean. Don’t forget to shave your upper cheeks and neck.
- Keep those beard lines nice and sharp!
- Long hair and a beard may be a little bit too much shagginess for financial advising unless you are trying to stay alive like Barry Gibb of the Bee Gees.
- For the expressions of awe and shock that you may create, be prepared with witty rebuttals such as, “What, you didn’t know I was a mountain man in my spare time when I’m not trading the market?” or “Yup. I went for the Sophocles look. Like, dislike?” Then smile.
Beard styling guidance
Use a beard as a styling tool to complement your facial shape and the results can be stunning.
- For a round face, a goatee can emphasize your jawline and lengthen out your profile.
- For a rectangle shaped face, use a beard with more fullness on the sides to widen out your face (Example: Abe Lincoln).
- Oval faces tend to do well universally.
The beard line dictates how much fullness the beard brings to your cheeks. Santa Claus is an example of someone with a high beard line. Although every advisor’s brand and personal style dictate what beard works best, a lower beard line is the safest option. I recommend a less shaggy, closely trimmed beard for advisors.
Now before you take to APViewpoint to air your grievances, keep in mind that although beards are accepted in the world at large, finance is still a very conservative field. In my opinion, the following beard styles as presented by Gillette (refer here for pictures) would be the ones most likely to be found agreeable in our industry.
The stubble beard
This is a nice look that shows masculinity in a very clean way. Don’t get me wrong; presence of stubble itself isn’t necessarily a stubble beard. It should be shaped and trimmed to achieve this look.
The circle beard
Moustache and chin strip/goatee connected by a thin line of hair. The Circle Beard is closely related to the Royale Beard, which is the same thing except the moustache and chin hair are not connected. These are both partial beard looks.
Short, boxed beard
This is a classic look. Thin out the beard and keep the beard line low.
The Verdi beard
Trimmed beard with a short moustache that doesn’t connect to the chin strip. The beard is shaped to frame the jawline again with a low beard line.
Sara’s upshot
The right beard makes you look distinguished and sets you apart in an industry where much of what is said and done happens with zero to no personality. As automation obscures the opportunities to differentiate yourself, show your human side and your flair. For more tips on how to grow your practice using many aspects of your brand (not just facial hair) please subscribe here to my podcast.
Sara Grillo, CFA, is a top financial writer with a focus on marketing and branding for investment management, financial planning, and RIA firms. Prior to launching her own firm, she was a financial advisor and worked at Lehman Brothers. Sara graduated from Harvard with a degree in English literature and has an MBA from NYU Stern in quantitative finance.
Read more articles by Sara Grillo