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When job hunting, sending resumes in a scattershot fashion is considered an ineffective strategy because it lacks focus. “Spray and pray” isn’t any more desirable for financial advisors. Taking a targeted, niche approach can be much more useful for landing high-value clients. That’s because niche advisors build specialized expertise in working with specific types of clients and target their marketing efforts to them. Unfortunately, many advisors miss out on this opportunity and choose to focus on a broad target market.

According to research conducted by CEG Worldwide, seven out of 10 top financial advisors earning at least $1 million dollars per year are considered niche advisors.1

Wait, but won’t utilizing a niche strategy reduce the overall size of my prospect universe? It might, but it can also improve your bottom line. This is because many niche clients want to work with an advisor who specializes in helping them meet the...

Should You Include a Digital Investment Solution in Your Practice?

With the rise of so-called robo-advisors such as Betterment, Wealthfront and Ellevest in recent years, independent financial advisors now have a new form of competition that didn’t exist all that long ago. The advent of robos have made it more important than ever for you to take advantage...

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Texting with clients: How to remain in regulatory compliance

Thanks to technology, the way people communicate with each other has changed drastically over the past decade. Of particular note has been the rise in the use of text messaging as a communication medium.

Most people now have text capabilities on their mobile phones and data plans with...

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How to Make Your Small Accounts More Profitable

It’s a dilemma faced by virtually all independent financial advisors today: squeezing profitability out of small accounts. Advisors often have to spend just as much time and energy working with small clients as they do large ones.

However, given the lower volume of assets under...

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The Financial Advisor’s Guide to Successful Podcasting

Successful independent financial advisors are always looking for new ways to grow their businesses. Some advisors are looking beyond traditional marketing vehicles like print and broadcast media to new marketing channels, including podcasting.

When done well, podcasts can be an effective...

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