Do you work with anyone who has a pulse? In my work as a coach for financial advisors, I have noticed that most of my clients are generalists when they first start working with me.
If you work with anyone, you are a financial advisor generalist!
There’s nothing wrong with being a generalist if you are quite happy with your practice, your clients, and where your firm is headed.
But if you want to GROW your firm, potential clients want to work with a financial advisor who understands their specific challenges, issues, and points of pain.
Prospective clients are less likely to hire you if you are a generalist.
Think of it this way: go in the bathroom and look in the mirror. Chances are you might say, “Hey, that’s a pretty nice looking guy/gal staring back at me.” You know you. You understand you. You are accustomed to seeing your image. You are the most important person to you.
When a group photo is taken with you in it and you get the chance to see the photo, who do you look for first? Why, you of course! Because you are the most important person in your life.
Prospective clients feel the same way. If your brand is focused on YOU, rather than prospective clients, then you are not sending a good message that welcomes new clients.
Prospective clients subconsciously want you to focus on THEM, not you.
Have you ever read the book “How to Win Friends and Influence People”? If you have, you know that the most powerful word to most people is their own name.
If you care about your clients and you are a client-focused financial advisor, it makes sense for you to focus on your clients, in your branding and marketing messages.
There are exceptions to this. If you are a celebrity like Suze Orman, then you can brand your firm around YOU, but even so, you should still have content devoted to your niche clients and how you serve them.
If you’ve never considered becoming an advisor with a target market, it’s time to look into it.