Why did we call ourselves Magenta Financial Planning?

Next week Magenta will be 3 years old. The last 3 years have flown by and we are grateful to all our wonderful clients, business supporters, staff, friends and family, who encourage and inspire us every day!

Just over 3 years ago we started to brainstorm what we’d call our new company. When thinking about a name it was important for us that the name wasn’t too complex, it was easy to say and meant something to the team who work here.

After weeks of deliberation, text messages back and forth with ideas, google searches and trials of how we would answer the phone – we agreed on Magenta – and here’s why:

Psychology of the colour Magenta

We loved what we found out about the psychology behind the colour Magenta. It felt like this really talked to us and would represent us, and what we do, as financial planners.

The colour Magenta is one of universal harmony and emotional balance. It is spiritual yet practical, encouraging common sense and a balanced outlook on life.

A combination of red and violet, magenta contains the passion, power and energy of red, restrained by the introspection and quiet energy of violet.

It promotes compassion, support and kindness and encourages a sense of self-respect and contentment in those who use it. It can assist ambitions and desires to become reality.

Physiologically magenta helps us to flow with life and let go of old ideas.

Magenta is a strong and inspiring colour which can appear outrageous and shocking on one hand or innovative and imaginative on the other. It is particularly attractive to the non-conformists in the community.

[source: https://www.empower-yourself-with-color-psychology.com]

A bright, different and female friendly brand

Choosing the name Magenta instantly meant that our branding could be different from most other financial companies, accountants and banks. You can’t have a blue logo with the name Magenta!

Our design consultants Washington Design did a fantastic job with our logo and branding and jointly we continue to develop this further and “think more pink”.

Overwhelmingly, the reaction to all our Magenta branding is positive. We have clients who see things Magenta while on holiday and send us photos, or wear their Magenta tie, handbag or scarf when then come to visit us.

Because it’s fun and not boring!

We could have called ourselves ‘Lord & Betts Financial’ or ‘Bridgend Financial Advisory’ – but we didn’t want to be quite so traditional.

For some, when most people think about “doing business,” especially in our profession, they seem to think that it’s important to be traditional and boring. We wanted to break that mould.

We didn’t want to talk in boring ways, write boring stuff and use boring terms that no one wants to really read (although some stuff we just can’t avoid(!). We believe it is possible to provide excellent and compliant advice – but yet not be the same as everyone else.

We love what we do and it can be great fun!

We wanted our name, brand and ethos to represent this – for our existing clients, future clients and anyone who comes into contact with us. 

The future and the concept of a Magenta personality

We are a growing team, now of 8 staff. We’re always developing and improving our skills and systems and we are also working on our brand, being more Magenta. 

Recently we asked some clients, connections and external influencers to help us in understand how our brand is being perceived.  We asked “if you could choose any celebrity as a spokesperson for Magenta, who would it be and why?”

The results were amazing and have helped us feel happy that Magenta really was the right choice for us! Here’s a sample of some of the responses:

  • Joanna Lumley – Glamorous, smart but real. With lots of humility.
  • Fiona Bruce – Friendly, smart and approachable. Confident. Down to earth, a bit sassy but not too glamorous or frightening.  
  • Tanni Grey-Thompson – A high achiever, passionate, purposeful and compassionate with a balanced and pragmatic perspective on life.
  • Zoe Ball – fun, caring, very good at what she does.
  • Vanessa Feltz – sassy, articulate, direct, straightforward but in a really trusting way. Stands up for what she believes in, in a ‘gorgeous’ colourful way! She represents a go-getting woman, who knows what she wants. She’s loud and proud. 
  • Alan Titchmarsh – successful, passionate about what he does, amusing.
  • Huw Edwards – Welsh, gravitas, serious, bright.
  • Judi Dench and Helen Mirren – they are both very well respected in their field, have a no-nonsense approach to life in general and both rock pink hair!!
  • Sandy Toksvig – no-nonsense yet warm, great sense of humour, playful, direct, intelligent, clear, concise.
  • Phillipa Perry – positive and optimistic, intelligent, quirky and strong. She also seems accepting, not afraid of challenge and she’s got an ‘out there’ style! 

If you have an idea of a personality that you’d use to represent Magenta, please do let us know!

We will be using this and other feedback as we further develop our brand and grow the Magenta Team.

Thank you for the last 3 years support and fun – here’s to many more!