In a recent article for Forbes, Covisum President, Joe Elsasser, CFP®, touts the many benefits of choosing a niched financial practice.
Niched financial practices have defined specifically which clients they will work with and what services they can provide to make them the best option for those clients. Choosing an advisor who focuses on your particular niche is crucial when it comes to understanding your specific needs and answering any questions you may have comprehensively.
Here's an excerpt:
"Niched advisors have developed specific processes for dealing with the unique concerns of their specialty. Your concerns are likely to be similar to others the advisor frequently hears. Therefore, the advisor will be more adept at addressing those issues."
Joe goes on to suggest specific questions consumers can ask advisors to determine if the advisor has the specific knowledge and background to guide them based on their specific needs.
You can read the article in its entirety in Forbes.