The Folly of Client “Minimums”

Using an arbitrary minimum asset level for clients unduly limits the market for financial services providers to those who have already “made it,” and ignores the substantial number of prospects that are ultimately headed for financial success. For advisors, using minimums often means excluding the coveted Millennial group because they do not meet asset requirements . . . yet. So why does the industry continue to focus on current asset levels? Defining target markets by easy-to-measure[…]