4 Ways to Know Clients Better


This is not only the key to providing financial services and maintaining your business, its also essential to attracting and keeping other clients like them.


Generally, I’m not a fan of advisory business owners focusing on client niches. It seems to me that having a niche unnecessarily limits potential clients, and can narrow a firm’s marketing efforts.

That said, independent advisory firms do tend to have groupings of similar kinds of clients. These groups typically result from client referrals as a primary marketing strategy.

People tend to work with — and hang out with — others with similar jobs, so, it’s not surprising they would refer folks who are like themselves. 

Consequently, many advisory firms tend to end up with groupings of similar clients in age, occupation and income. These groups often include executives at the same company, doctors in the same practice or at the same hospital, and folks in the same industries, from owners of dry cleaners and moving companies to vineyards.