On Episode 15, I speak with Chris George and Marc Schouten of Broadreach Strategic Planning. They share the story of how they came into financial planning as a second career and quickly learned that having a retail practice wasn’t going to be for them. We discuss how they narrowed in on millennial dentists as their niche, how they did that even when they didn’t have a single dentist on their books and how despite sheer persistence and consistency, it took them at least 4 years to really establish themselves amongst dentists to that point where now clients regularly find them. You’ll want to listen closely for all the marketing nuggets they share as well as learn what it takes to become a technical specialist working with a niche market such as dentists.

Episode Highlights

14:40 → You're going to have to specialize. The importance of specializing in the market. 18:00 → How long did it take you to formulate? How the process of specialization works - an example in practice. 19:26 → Build a brand and a reputation that they trust. 22:06 → Collect information like a crazy person - get to know your clients’ financials. 23:16 → Stay consistent with your messaging and marketing. 24:04 → Ask to see any legal documents and get to know your client. 25:59 → How do you break into a new target demographic? 29:00 → How we get our clients: Referrals and presenting. 31:58 → Get your finances and your funds in place. The importance of cash flow. 37:11 → Offer to do financial plans on spec - learn to back up your word. 39:17 → Get the information out there - present relevant and relatable information. 42:11 → Search for the organizations you can grow to be a part of. 44:15 → Paying attention and placing yourself in your client’s shoes. 46:34 → Implement a service mindset. 48:58 → The most powerful thing you can say to clients. 52:41 → How to structure a client meeting. 56:59 → Specializing really helps. 58:15 → Low barrier of entry into the field. 1:01:35 → Our industry is fueled by compensation and it influences service. 01:04:09 → Go after the proper designations, go after the market and go after the clients.