Before you rush into a wealth management niche, let’s take a few minutes to explore the domino effect of your decision. Listen as Reese Harper and Patrick Brewer discuss the delicate art of pursuing a defined segment of clients. You’ll learn how the market can be sliced in multiple dimensions, how your personal psychology should inform the type of client you target, how to align your business with the clients you serve, and common mistakes that take well-intentioned advisors back to the drawing board.
The client-advisor relationship is a two-way street. At least it should be. As the advisor, you have just as much say about who you work with as the client does. So who will it be? How will you define your target audience, and how will you stay committed? In this episode of Elementality, Reese Harper welcomes Patrick Brewer, CEO of SurePath and host of the Model FA podcast, to expose the challenges and opportunities of building your firm around a niche clientele. With so much riding on the vertical you choose, what are the biggest questions you should ask before going all-in? In this conversation, you’ll hear Patrick explain how your personality factors into the equation and lesser-known ways of defining market segments. He also shares a commonly used marketing phrase that usually signifies a death sentence for young advisors.