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

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  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.

  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.



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