Friday, August 1, 2008

Wealth managers should specialize by affinity, NOT demographics

"In my opinion, a successful segmentation will be less demographically driven (e.g., net worth or income striations) and more affinity driven (tapping into a deep pool of investors who share a common passion — auto racing, yachting, the arts, religion, and so on)." writes Scott Welch of Fortigent, LLC in "Differentiating When Consulting to the Ultra Affluent," an article I blogged about on August 25.


Are you tapping a common passion among clients of your wealth management practice? Share it in the "Comments" section of this blog post.

_________________
Susan B. Weiner, CFA
Investment Writing
Writing that's an investment in your success

Check out my website at www.InvestmentWriting.com or sign up for my free monthly e-newsletter.

2 comments:

  1. I continue to struggle with identifying and committing to a niche market -- whether the niche is defined by demographics, affinity groups or other criteria.
    However, I recognize the benefits of focusing on a niche and among the other advisors I know that take this approach, they have benefited greatly from it.
    -Russ

    ReplyDelete
  2. Russ,

    Thank you for visiting my blog and commenting again!

    Personally, I can see how concentrating on a writing niche has made it easier for me to market. I can focus my marketing efforts, unlike my generalist colleagues.

    -Susan

    ReplyDelete

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