Not Every Firm Should Niche

Through our work with financial advisors, we have discovered the easiest way to market is to specialize in a niche. However, not all firms should niche. Here are four situations where focusing on a broad market is the better choice:

Firms in small, close-knit communities with widespread name recognition
Firms where the owner is going to sell to an outside entity in the next five years
Firms that consistently generate enough referrals to achieve annual growth goals
Firms with outside investment that can spend significant money on national mass marketing campaigns