Jack of All Trades or Master of One?

Few people could match Jack's knowledge and experience as a financial planner. He believed that a good planner could help anyone at any time with any challenge, and he was energized by the variety of challenges he faced as a financial planner. Financial planners often ask if it would be better...

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Published in:Journal of financial planning (Denver, Colo.) Colo.), 2018-07, Vol.31 (7), p.16-18
Main Authors: Kornegay, Adam, Kornegay, Susan
Format: Article
Language:English
Subjects:
Financial planners
Guidelines
Medical referrals
Niche marketing
Referrals
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Kornegay, Susan
description Few people could match Jack's knowledge and experience as a financial planner. He believed that a good planner could help anyone at any time with any challenge, and he was energized by the variety of challenges he faced as a financial planner. Financial planners often ask if it would be better to position themselves as someone who does financial planning as a generalist or as someone who specializes in a specific area of financial planning. Many new planners begin their career as generalists, later developing areas of specialization based on the clients they tend to attract or their own background or area of interest. There are three key reasons for developing a niche market: 1. It provides you with a clear focus for your marketing efforts. 2. It gives you a sense of identity as a recognized expert in a specific area. 3. Perhaps most importantly, a well-established niche helps facilitate referrals.
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subjects Financial planners
Guidelines
Medical referrals
Niche marketing
Referrals
title Jack of All Trades or Master of One?
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