Are You Serving the Right Client in 2022?

One of the main priorities in our line of work is connecting with and building meaningful relationships with clients. As we enter the new year, I encourage you to take a step back and gauge the successful client relationships – and potential non-matches – that happened last year.

Perhaps you realized that you were prospecting the wrong type of client, or you learned that you connected best with medical professionals. Whatever the case may be, it’s important to take stock in who you best connected with, and make an effort to target this type of client in 2022. In turn, you’ll curate deeper client relationships, grow your business, and better serve your clients in the long run.

Identify your target client

As you progress as a professional, you may find yourself working with clients who aren’t necessarily your target client base. It’s easy to accept every referral and prospect to expand your practice, but over time, you may begin to realize that it’s not in your best interest to say “yes” to everyone.

To be amongst the best in your profession, you must find a client “niche” that you’re passionate about pursuing. This could be medical professionals, millennials, retirees, etc. By identifying the client niche that you connect with and work well with, you’ll be able to provide those clients best-in-class service.

As we move into the new year, take some time to determine which clients you had the most natural conversations with and who demonstrated that you added value to their lives. When you’re working with the clients you best connect with, the conversations will feel more authentic. For example, if you notice that when working with clients who are retired or approaching retirement you are more engaged and communicate comfortably, then you should consider centering your practice around retirement.

It can be hard to refuse certain clients or not continue working with current clients into the next year, but when you prioritize your target clientele, your business will thrive, and those clients will thank you.

Delve deeper

Establishing your client niche will allow you to create more intimate client relationships. To do so, try to bring an aspect of enjoyment into your practice. This will lead you to connect with your clients on a more personal level.

For example, if you’re working with retirees who can’t take full advantage of their retirement due to the pandemic, you could host a virtual wine night or dinner for them. Interacting in a more casual setting makes your clients see you in a different light. Letting your clients see who you are, beyond just their financial advisor, will build deeper, lasting relationships.

Having a true connection with your clients is what makes working in financial services rewarding. When you’re able to comfortably communicate and connect with your clients, you’ll also be able to leverage those authentic, genuine relationships to grow your practice to new heights.


Simon Lister Dip PFS, is the Managing Director at ML Financial Associates. He is an 11-year member of MDRT and has three Court of the Table and eight Top of the Table Qualifications. His company provides financial planning and investment advice.