Profiles needed in niche markets
Financial planners hoping to specialise in a niche market need to involve themselves in their clients' work environments and fully understand their profession, according to Graham Campbell, principal of planning practice Complete Financial Balance.
Speaking at the Association of Financial Advisers national road show in Melbourne, Campbell, who specialises in the medical fraternity, told the audience that they needed to build a profile within the niche market that they wanted to target.
Campbell said by talking to doctors and nurses within the medical profession, he was invited to speak at medical conferences and advertise his skills.
He also said that by sponsoring a hospital ball in his local area and posting photos of the ball on his company’s website, he had gained permission to place his company logo on the hospital’s website as well as a link to his company's website for hospital members to follow.
Campbell had also held dinner functions for members of the medical fraternity, inviting renowned members of the profession as guest speakers.
Planners should also be prepared to change their method of communication to match their target clients, for example, by sending text messages instead of a phone call, he said.
Planners also need to implement a structured referral system and share client information so they can provide those clients with more personal quality service, Campbell said.
AUTHOR
Benjamin Levy
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