Week 33

Set Your Younger Advisors Up for Success with a Niche

Young advisors employed by an RIA are often at a disadvantage when it comes to attracting new clients to a firm. They generally lack the network, relationships, and experience needed to convince prospective clients to work with them.

If firm ownership would like to help their young advisors overcome these challenges, they would be well served to coach them into working with a niche. A niche will help the advisor:

1. Focus their marketing time and direction

2. Stand out from the crowd

3. Take ownership of their marketing

4. Overcome the lack of a large network

5. Overcome a perceived lack of experience

6. Overcome any apprehension around sales and marketing

7. Believe bringing in clients on their own is achievable.