Defining your niche or practice specialty is the first step in developing a long-term growth plan for your business as a financial adviser. A niche will not only help you identify your target customers, it will also allow your practice to run more efficiently, help increase referrals, recruit new partners or even find the right fit if you are considering changing firms or affiliations.
A niche can also help you stand out in a crowded marketplace, much like your personal brand. Your practice specialty will help position you as an expert in a particular area, making it easier for those looking for your expertise to find you.
How do you fine-tune your niche? How do you ensure you becomethe expert and go-to individual for your client’s needs?
Here are six techniques for improving your specialty practice:
Educate yourself. The first step in defining and honing in on your niche is doing your homework. Educate yourself about your targ