Lower-tier clients can be offered a more hands-off experience, freeing up your team’s time for bigger clients. If you’ve made an investment in technology, you can more easily scale your low-end clients by offering online account services and portfolio management.

Explore New Niches
Many advisors are pursuing niche specialties or moving to a high-end boutique model of service. By doing so, they hope to be able to focus on providing specialized services to a smaller fraction of investors and capture more of their advisory needs in-house. There is also generally less competition for specialists because so many financial advisors fail to focus their services. Offering a more integrated suite of advisory services can also bring higher margins from clients willing to pay more for a seamless experience.

Robert Sofia is a best-selling author, award winning public speaker, and financial industry thought leader. He has developed marketing strategies for Fortune 500 companies, consulted with over 1,000 financial professionals nationwide, and is the cofounder and C.O.O of Platinum Advisor Strategies – ranked No. 362 on the INC 5,000 list of America's fastest-growing privately owned companies.


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