Offer the Value-Adds That Actually Impact Your Niche

In November, Kitces.com published the article “101 Things That Advisors Actually DO To Add Value.” Since then, I’ve been observing online conversations and having discussions with advisors who skipped over the article and jumped right to the chart of 101 services. The advisors I spoke with were enthusiastically planning to add as many of these services as they can to their practice.

The problem is many advisors missed the lesson the author was trying to convey. In his conclusion, Adam Van Deusen states: “Ultimately, the key point is that while there are more than a hundred different ways advisors can add value to their clients’ lives, advisors who are able to go deeper for their ideal target client have hundreds more ways to do so.”

He continues: “In fact, by crafting an ideal target client persona and shaping their service offering around the value adds that most apply to these clients, advisors can not only enhance their efficiency, but also better differentiate themselves from more generalist firms, potentially leading to more efficient marketing and greater client growth in the long run!”

The lesson of the article is not to offer as many of the 101 services as possible to a broad set of clients. The lesson is to offer only the most impactful services to your niche. Your operations will be more efficient, your marketing will be easier, and you will be happier.