Why Every Financial Planner Ought to Serve These Almost Unknown Niche Markets


Why consider to serve another niche?

There are a million and one financial planners, advisors, wealth managers or online solutions on the market. The market is so saturated, so why bother launching yet another one?

Before answering this question, let’s go back in time. Where we lived in a world with limited choices and big companies could afford to cast the net wide across the masses. No depth required.

Do you think this tactic works now that the masses have the power to choose?  Where people have the choice to visit your competitor with two swipes? The market of everyone has disappeared and that’s scary for big companies.

But not for you, because your financial planning business can go narrow and deep. Size and ubiquity aren’t what’s important for financial planners any longer. Significance trumps recognition now. The power to ignore the masses and to touch one person at a time is not the short end of the stick.

However, most financial planners question how they will get their service noticed, before thinking about why on earth it will matter to their (potential) clients. In a world where we’re bombarded with messages that we can choose to ignore, more of the same in a brighter package or more colorful box isn’t what people are searching for. It isn’t what they tell their friends about either.

When you don’t know how to communicate what your financial planning service is all about and your clients don’t understand what you’re saying, your ideas and your service blend in. Your financial planning business fails to connect with your target audience and they don’t have a reason to buy into what you do and why you do it. And they won´t be able to ‘connect’ with your service.

When people really ‘get it’ your business has the potential to attract clients, dominate a niche and reinvent a market.

When you appeal to the right brain of your client so that your business story makes an emotional connection, your client is far more likely to spread the word about who you are and what you do. Your clients will have a bond with your business. They buy in.

What most financial planners do

Most financial planners who operate in a niche are in this niche market because it creates an opportunity to really have something at which the financial planner is unique and the best to serve the target audience. They are the best at retirement planning, estate planning, etc. Or the best at planning for airline pilots, new parent finances, financially wise women, medical specialists, etcetera. They focus on ‘what they do’ and ‘who they do it for’.

The question is: does this type of niche really matters to your target audience? Does this make an emotional connection to your potential clients? Do they buy in?

Sure, you’ll get noticed by your target audience. They recognize themselves in what they are or what they do for a living.

But does your target audience believe what you are saying? Aren’t you forgetting to make an emotional connection by saying why you’re serving them and how your service makes your clients feel?

Instead of building your service around a niche that remembers your client what he is or what he does for a living, you might want to consider to build a service that remembers your client how he wants to feel.

Can you imagine how that attracts your potential clients because of the emotional connection you are making with this strategy?

Here are 7 niches you want to consider:

1) People who want to feel RESPONSIBLE

These type of people are motivated to build their finances around the goal of securing their family’s future. When seeking to strengthen your relationship with ‘the responsible type’  it’s important to build your story, tie your activities, work, and conversations into the family motivation.


  • share the importance of your own family in your life
  • show how your value of thrift benefits the family
  • emphasize experience in working with family issues
  • stress reassurance

2) People who want to feel AT EASE

These type of people have little interest in talking about finances and investments. They want to be assured of your professionalism and expertise and need assurance that they are proceeding as planned. The relationship with ‘the at ease type’ should center more in learning about their interests and lifestyle. And probing into what changes or activities are occurring.


  • Tell stories about other clients who have lived out their dreams
  • Be task driven and focused on what your client really wants in his or her life
  • Provide frequent updates on the progress toward this personal goal
  • Avoid technical discussions irrelevant toward this personal goal

3) People who want to feel SECURE

Privacy is the catchword with ‘the secure type’. He needs constant assurance that you and your firm are discreet and protective of client information. He or she often doesn’t like online banking and investing. He needs a person to reassure him that his investments are safe from cyber dangers.


  • Say you like working with clients who understand the need for confidentiality
  • Agree that privacy is increasingly important
  • Give much attention to client privacy needs
  • Tell the client about the firm’s security procedures

4) People who want to feel IN CONTROL

Remember the words control and ego with this type of clients. They crave control and respect. They often think highly of their own abilities to reason and decide.


  • Set up choices for clients; don’t question their decisions
  • Show that you think their accomplishments are significant
  • Reinforce perception of client control at all opportunities
  • Make them feel as though each is the #1 client

5) People who want to feel IMPORTANT

VIP’s want to get noticed, and they’ll spend money to get that notice. Pay attention to the car they drive, the watch and clothes they wear, and ask about the things they’ve purchased. VIP’s want both prestige and respect and will solicit that respect with materialistic flash.


  • Talk about highly visible people in the community
  • Make them feel as though they are in the same class as celebrity clients
  • Give the sense of many people involved on their behalf
  • Give lots of attention to address their ego needs

6) People who want to feel MEANINGFUL

These people have a higher purpose in life. They want to invest their money in a way that supports their purpose. Small talk won´t do. They need someone to have a ‘real’ conversation with.


  • Be clear on why your company exist
  • Ask for your clients’ story
  • Tell stories yourself
  • Avoid technical stuff and articulate the big picture

7) People who want to feel EXCITED

These people like action, energy, and excitement. They like to ‘play’ with their money. Investments are a sophisticated means to a daily adrenaline rush. Your emotional keys are the excitement and enthusiasm you communicate about finances.


  • Position yourself as an educational resource
  • Share the belief that innovative ways of handling finances is the way to go
  • Reflect their technical turn of mind
  • They want access to top technical expertise

It doesn’t end here. Emotions and feelings are ubiquitous. And yes, that means even so many niche markets you can specialize in.

Can you see the immense market share you can win? Yes, you can. And I hope you do.

If you don’t want to miss the chance to inspire each other to be more meaningful with your financial planning business, please answer the following question:

What is the niche that you WANT to specialize in?

Please, leave your answer here below in the comment field. Thank you very much.

Together we can make financial planning matter.

Let’s make financial planning matter

Ronald Sier


Leave a Reply 8 comments

Chria Reply

ESG investing

Leo Harper Reply

Medical Insurance with automatic cover for those who would otherwise be rejected.

Mark Fenton Reply

I like to focus on pre- or recently retired individuals, before their finances are too rigidly set.

rich dworzak Reply

preretirement planning, wealth transfers and estate planning and estate administration.

jeff Reply

Can you help us target more niche opportunities??

Larry Whitesides Reply

As a recently retired Planner and CLU since 1947, I am more than discusted by what is called Financial Planning. It is mostly nothing but a way to marrket produuct, and then via a computer program.
Any one who will try and help the client and ecvery member of his family has to know EVERYTHING about them all.
Who do thet believe: who they are- why are they here and how are they suppoaed to live theeir lives.
A planner has to know the family business, its key people, how it operates, treats its employees and why?
He has to know a lot more than todays standards including Foreign tax planning and investments, psychology, something about all 200+ asset classes, What is money, Real Estate as an investment and home, and how to help each family member achieve their full potrential, etc.
Watch what is usually the first questions asked of a client_ usually \”May I see your tax retturns and financial statement\’- money but not about. the client at all.
When one getss \”inside\” the family, they are a member of the family for life.

Lisa Reply

These are the qualities I was looking for in the late nineties while raising my five sons. I went through nine financial adviser\’s and a lot of frustration. I decided to become a Certified Financial Planner and after working in the industry I understand why no one was able to meet my needs. The educated planners want people with high net worth and the rest did not have the education necessary to be of any real help. I work with anyone that needs my help and have made this career more about meaning then money. I look at the time I spend helping a family that has very little resources as my gift or time that I my have been volunteering in another area.
I enjoyed your post.
Thank you,

Graeme Urwin Reply

I have dealt in the niche market of medics and dentists now for nearly 30 years.
I have found that they \’get \’ proper financial planning far quicker than most, are time poor so need help, have high incomes and dont mind fees.
They want to be in control or at least have someone they trust to sort things out, and peace of mind is often a need based on are they going to outlive their money?
When using cash flow forecasts for 50 somethings, my advice is quite often spend more – go part time – retire earlier – gift to children – create time to do the things you tell me you love to do.
Of course this is quite refreshing for them when another \’adviser\’ has said they need more pension,bonds,Isas etc.
To life!

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