Entries by Lorraine Ell

5 Mistakes to Avoid When Creating a Niche

The financial services industry continues to be increasingly competitive. From robo-investing to the push to join a billion dollar firm, independent advisors are feeling the pressure. A way to stave off the pressure is by discovering a niche market to serve. This is not a decision to take lightly. Here are five of the major […]

Help! I need somebody!

Advisors usually start their careers by joining an established firm, whether a wirehouse such as Merril Lynch, a captive insurance company like New York Life or a discount brokerage such as Schwab, TD Ameritrade, or Fidelity. The training they receive focuses on building client relationships, an understanding of risk and financial markets and learning best […]

A niche in time

Independent financial advisors are feeling the pressure to redefine what they do for clients and to find a specialty in marketing their services. In his book “Practice Made More Perfect, Mark Tibergien calls it a “Strategic Differentiator.” It can be defined as a specific area of expertise, a targeted clientele, a specialized investment strategy or […]

Biggest Bang for the Buck—Are you making the most from your financial advisory practice? | Part Two

The advisory firm’s pricing structures have many permutations. The chart below outlines the primary ways advisors charge clients for their services. Advisor fees can be arranged in three basic categories: fee-only, fee-based and commission only. The trend is toward charging fees for assets under management (AUM) whether a Series 7 stockbroker or a Series 65 […]