The ability to pay for a coat of arms would be a nice touch. There might be a way to have your shield painted. Also, the factions have banners which improve morale. Maybe you could buy a banner for your mercs which gives some bonuses instead of having your character attack. I can imagine having a heraldry engine as part of the game where you can design a shield or symbol based on a configuration.
http://fantasynamegenerators.com/coat-of-arms-generator.php#.V2-9svkrKUk
