Specialization has become the modus operandi of every modern financial advisor. In the digital age where investors have access to more choices than ever, the generalist philosophy of serving “anyone with money” is no longer a viable business model.
According to the latest CEG Worldwide research, 70% of top financial advisors (those who earn $1 million or more annually) focus on niche clients or a specific component of the advisory market. Many go further to concentrate on a niche within a niche.
