how wealth advisors can stand out

5 Ways to Differentiate Your Family Wealth Advisory Firm

A 2015 Cerulli report stated that there were 308,937 financial advisors practicing in the U.S. – an increase from 305,610 in 2013. With so many competitors in the market, and a continued upward trend expected over the next three years, how do you stand out?

Differentiating yourself is the key to helping your firm continue to thrive. Consider these strategies as you build a business plan that’s sure to set you apart.

Specialize, and know your market.

Don’t be a jack-of-all-trades and a master of none. Do you specialize in serving a specific niche? Maybe it’s self-employed business owners, family offices, philanthropic investors, or C-suite executives. Whatever your market, take the time to get to know them. Know their specific pain points and how to solve them, attend their events, and seek to be an expert and a thought-leader in the financial areas of their field, so that you become their go-to and #1 referral for advisory services.

Be yourself.

A Forbes article said it best with the headline: “Differentiate Yourself by Being Yourself.” The great thing about staying true to YOU is that it naturally helps you narrow your client base more specifically. If you’re having trouble finding your niche as a wealth advisor, try being yourself and see what happens. As stated in the aforementioned article, “When you give yourself the freedom to be exactly who you are, you might disappoint other people.” But you will please some, and those are the people you want to work with.


Serve your clients in an environment that makes them feel most comfortable. For some, this might mean entertaining them on the golf course. For others, it may mean transforming your living room into an office where you meet with them face-to-face each month. Or, if you serve families, you might just have to get a little more comfortable with using technology to communicate with your clients’ children. Be flexible and willing to adapt your methods to their lifestyle and habits, all while remaining confident in your own skin, and you’re sure to build lasting relationships that will grow your business. Speaking of relationships…

Take time to build them.

You should not only seek to build meaningful relationships with your clients. Seek to build a network of highly connected, influential people, so that you can connect your clients with additional service providers. Having access to local politicians, top-rated doctors, or media journalists—and having the ability to connect your clients with those people—will set you apart from other financial advisors who may not have taken the time to build those relationships.

With more millennials beginning to inherit their parents’ wealth, it’s also important to connect with your clients’ children, especially if your firm specializes in family generational succession. Considering that 66% of children fire their parents’ financial advisor after receiving an inheritance, developing multi-generational relationships with your clients is a huge differentiator.

Offer something unique.

Go beyond the traditional financial advisory offerings to give your clients a unique experience. This is especially important when it comes to servicing affluent and UHNW clients who desire a more personal touch. According to the Proving Worth survey conducted by OppenheimerFunds and Campden Wealth, sixty-one percent of families rate legacy development as a top financial need, meaning that in addition to wealth preservation, many of your clients are seeking a way to pass down their family’s unique values and heritage. Offering a unique service such as legacy preservation is certainly one way to differentiate your firm from your competitors.

At FamilyArc, we’re here to help you do just that. Our platform offers a unique solution to the legacy crisis that many families are facing, while also providing wealth advisors an incredible opportunity to differentiate your services by partnering with us to give your clients that solution.

To request information about our partnership program, fill out the form on this page, and one of our representatives will contact you as soon as possible.

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