Hello guys, welcome to the leading write-up on Financial Advisor Target Markets.

By the time you read this full piece, you will be well informed of what target markets are, your potential target markets and the attached benefits.

In this comprehensive piece, our experts will enlighten you on:

What target markets are
The importance of target markets
How Financial Advisors can benefit from target markets
Top target markets you can leverage as a Financial Advisor

Let’s get started!


As a Financial Advisor, you might think that offering general services is a great way to grow your clientele, but this could be the worst advisor marketing tactic ever. 

In general, most high-paying clients will want to work with Financial Advisors that are specialized and well-versed in a specific field of expertise.

Financial Advisor Target Markets

With 75% of Americans managing their own money and less than 20% using Financial Advisors, most financial advisors offer general services.

They are willing to take in any seemingly ideal client that comes to them.

If you are a Financial Advisor who works with target markets or niches, you will be most sought-after because you are what refined clients are looking for.

It might seem like you are limiting yourself when you focus on a particular Financial Advisor niche.

The truth is that this will help you stand out from many advisors offering general services to clients.

You will not struggle to grow and get new clients because you are better and different.

This is because you have crafted a unique value proposition relevant to the kind of target market you want to serve. 

For that reason, every Financial Advisor must identify a specific financial niche solution that they can offer the market for them to attract a good share or 100% of that target market.

Now that Financial Advisors have realized this, the struggle then lies in picking the perfect niche from the beginning.

This is why this article further explains the top Financial Advisor target markets to help you specialize your financial advising services.

Here are some of the lucrative target markets to consider offering financial planning services. 

Companies or Employees in Specific Industries

Choosing to work with companies or employees in a particular sector will require you to choose one with a heavy presence in your region.

Single out the largest employers nearby.

They could be educational institutes, the healthcare industry, the manufacturing industry, government offices, etc.

After deciding on the industry you want to work with, strive to become well-versed with their benefits, health care plans, retirement plans, and other financial plans.

Next, you must get your hands on important information about the employees or the companies.

There are several ways to do it.

You can do so through reading employee newsletters or following their social media pages to understand the mindset and circumstances of your clients and the companies they work.

You could then begin introducing yourself to the people in that sector.

You can begin this by offering free counseling to people who will soon retire as a marketing strategy then book appointments. 

Also, find out their financial needs and wants, and this will you will best market yourself to these people. 

Even as you effectively market yourself to the people in this field, it is crucial to ensure that, in the end, you indeed offer your current clients useful and valuable financial solutions.

Doing so will impress your clients, and they will likely tell others about the tremendous financial services you are offering to all the employees in that field. 

Couples That Have Double Income

Couples without children will, of course, have lesser expenses compared to those with children.

These couples will most likely have more money to spend on things like hobbies.

However, most of them will later realize that their finances need some managing.

Without children, this is the best time for them to save. 

This is because they don’t have the extra financial responsibilities that come with children.

As a financial advisor, you can educate these couples on saving options for their children if they wish to have children in the future or offer them a retirement plan that will best suit them.

Such couples might continue using your financial services even after their current circumstances change. 

They are young, probably millennials, which means you will have recurring clients for many years.

Families With Children

When children come into the picture, couples realize that they have less money to save.

Couples find it hard to save with children already in the picture, but this is not to say that it isn’t possible.

New parents will want to think about childcare and healthcare costs, college tuition, life insurance, emergency savings, and so on.

You can make the process less daunting for such clients and allow them to focus on growing their families.

This is a significant target market because your satisfied clients might recommend you to their family members and friends or other parents they meet. 

So make sure you offer great financial advice to make them recommend you highly to others.

The Single Professional Women

This is another niche market where you could offer your services.

It is a fact that single professional women have interests and goals that vary from people with families.

This group of people also face various disadvantages, unlike their male counterparts.

One major disadvantage is that women have been known to earn less than men.

But the truth is that they live longer, which means that, on average, single women will have lesser retirement funds than single men.

The females in most cultures are less financially literate compared to the males.

This is why they might need to learn about finance and investment through a reliable Financial Advisor like you.

You can help them achieve their financial goals by showing them how they will deal with the financial challenges they face.

The Small Business Owners

With how hectic and demanding running a small business is, small business owners have little time to spend on financial matters.

They then forget to make sound financial decisions and fail to add more value to their business.

The lack of time for these small business owners is an excellent opportunity for Financial Advisors to offer sound financial advice.

As a Financial Advisor, you might need to develop a comprehensive understanding of your client’s businesses and financial goals.

Most of these business owners will want to secure their businesses against any losses or unfortunate incidents, manage their assets, and plan their retirement.

The business owners will find a Financial Advisor very valuable in helping them set up and manage their financial plans.

Money In Motion

There are instances where money changes hands, and clients receive a windfall from receiving an inheritance or selling a business, or even winning a jackpot.

In such instances, the clients usually feel overwhelmed and unsure of what to do with the money.

Most will go into a spending spree because there is no one to guide them on their options.

As a Financial Advisor, you can advise such people on wealth management strategies and help them not end up broke.

After you help these clients make smart money decisions, they will always come for you for advice and refer you to their friends.

You can be assured of long-term clients then.

The Life Transitions

This is another lucrative target market that you can focus on.

It involves life transitions or significant life events such as the following: 


This is the time when finances become complicated.

Financial Advisors help couples with messy money issues get resolved faster, and agreements are reached.

As an Advisor, you can also help those who have undergone divorce to create an intelligent economic plan for their future which they hadn’t prepared for. 

New Career

There are times when people will change their jobs and either earn more or less.

These people might often be confused about where they stand and whether they can still have their previous retirement plans from their last job.

They may have questions about their benefits and whether they can use them in their current job.

They will wonder whether their new job will impact their financial situation, and it is now up to you, their Financial Advisor, to put their mind at ease and offer them workable financial options.


Retirement is also one of the major life transition events that could use a Financial Advisor. 

Retirees will need help figuring out the best strategy to use the finds they have accumulated in their retirement accounts.

You can offer them sound advice and help them enjoy their retirement money for longer.

Death of a spouse

The death of a loved one and especially a spouse is usually not easy to deal with.

The remaining spouse might not make sound financial decisions.

This is where a Financial Advisor comes in to help them make sound financial decisions.

 As a Financial Advisor, you will focus on their current situation and guide them on the best way to handle their finances.

During stressful moments people tend to make mistakes when making financial decisions.

With your help, they will be at ease knowing an expert is guiding their decisions.

How Important Are Target Markets?

Target markets are essential and will help you grow steadily as a Financial Advisor.

Here are more reasons you should focus on a target market to improve your chances of success in this field as you seek potential clients.

Stronger Connection With A Growing Clientele

When working in a niche, you can build a stronger connection with your growing list of clients.

If, for example, you specifically work with health workers, your clients will want that unique expertise that comes from you than work with generalists who lacks a niche.

This strategy will help you in your marketing efforts to draw more prospects and turn them into clients.

Draw More Referrals

By specializing, word-of-mouth recommendations will be more, and you will have more referrals.

You will have a reputation in the industry and become the go-to person for your chosen niche.

Recommendations will no doubt pour in, especially if you are doing a great job.

Minimal Competition

Those generalist Financial Advisors will have nothing on you after deciding to focus on your field and build a solid reputation.  

They can’t compete with you because you offer specific financial advice. 

All the people in that specific field will come to you.

This will help you effectively monitor the competition and market.

Become More Efficient

Because you are focused on a single Financial Advisor niche, you will be better prepared to offer your clients sound financial solutions.

You will always expect and adequately prepare for your client’s concerns and issues and offer them real workable solutions.

On the other hand, the generalist Financial Advisors might not be influential in their work.

They might take too long to figure out the best financial solutions to their financial situations.


In the end, Financial Advisors can set themselves apart from any of the different financial niches.

The most appealing will always depend on the advisor’s interests, style, existing relationships, and the natural market.

Every advisor must remember that differentiation is not always about being better but being different enough to attract prospective clients. 

This is why focusing on a specific clientele with unique needs and developing a relevant niche solution will make you a successful Financial Advisor.

Target markets remain very important, as we have seen, and every advisor in this industry should find what is best for them.







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