Many financial advisors struggle with the challenge of how to differentiate themselves from their competition. There are many areas in which you can show how you’re different, however, such as your vision, service model, ideal client profile, investment philosophy, client service process and organizational structure.
Here are some questions to get you thinking about what makes you different:
1. What niche market(s) do you specialize in? (e.g., dentists who own their own practices)
2. Which areas of expertise or life stage do you specialize in? (e.g., retirement income distribution, divorce planning)
3. What types of services do you offer that the average financial advisory firm does not?
4. How is your fee structure different from other firms’?
5. How is your investment philosophy different from other advisory firms’?
6. What is the size and structure of your business? (e.g., national firm, team, solo)