This seems like a silly statement: every advisor wants the affluent.
Of course, right?
Many advisors think that it’s because the affluent have more money (more on that later). Let me share my strategy behind an affluent-only business.
If you wanted to double your income, how would you do it?
Revenue = Number of Clients x Average Revenue per Client
If you double the number of clients, what do you get? Insanity! If you double the average revenue per client, what do you get?
Ahhhh! Much better, huh?
Less clients. More of the right clients.
More freedom… more joy… more respect. All the reasons you went into business in the first place.
Do you see why an affluent-only business is so critical… so strategic?