A financial advisor found his niche by joining a local CEO peer group in 2017, which gave him direct access to business owners' challenges and fears. That credibility became his competitive edge, turning small business owners into his most lucrative client base.
Like many financial advisors, it didn't take long to realize that small business owners were amongst my most lucrative clients. As Michael Kitsis often says, having a niche is essential to separating yourself from other advisors, and I chose the niche of small business owners. However, I found that wanting small business owners as clients and actually getting them, as well as understanding them, were very different things. Everything changed once I discovered the CEO peer group concept. Being a member of a local peer group since 2017, I have benefited from multiple referrals to other business owners as well as other new client engagements. Also interesting is what I have learned about business owners in a peer group environment. I'm in a confidential space where business owners are working on their businesses, sharing challenges and opportunities that help me understand and interact with my business owner clients much more effectively and confidently. I get the inside track into a business owner's fears and mindset, giving me an edge in working with these clients over other advisors. As a result, I have developed credibility in my marketplace for being the go-to financial advisor for business owners. That is invaluable to my practice.
