Financial compliance specialists, B-Compliant, are urging advisory firms to consider trademarking their name to prevent targeted attacks by claims management companies (CMCs).
The Manchester-based consultants are warning firms that DB claims are becoming the focus of targeted advertising campaigns by CMCs, using company names to attract clients.
B-Compliant director, Vicky Pearce, said: “We are aware of one firm that has been the subject of a Google ad words campaign by a CMC, following an initial DB claim. By using the firm’s trading name to draw in further clients, a downward spiral begins that results in many more claims being issued against the target.”
Trademarking a company name allows a firm to protect its brand and prevent others benefiting from it or causing reputational damage. Google has a clear policy preventing advertisers from using trademarks without consent and will launch an investigation into any valid complaint.
Vicky added: “Trademarking is not the easiest process, but it is worth the time and effort to prevent targeted attacks of this nature. Once it is done, if you become aware of a CMC or other entity using your brand name on Google without permission, the search engine will be forced to remove the advert.”
B-Compliant serves the needs of small and medium-sized advisory firms, investment management companies and discretionary fund managers, providing advice and guidance to those who do not have the skills internally.