Whether were talking financial planning or any other service business, it’s scary to focus on a single niche. Why turn otherwise good clients away? But those who do it swear by it – and usually wish they did it sooner.
Our guest today is Benjamin Brandt. Benjamin is a wealth manager with and the founder of Capital City Wealth Management, a financial planning firm in Bismarck, North Dakota focused on helping people transition from work to retirement.
But Benjamin didn’t start out as a financial planner. He served as a combat engineer for eight years with the Army National Guard and spent two years overseas finding and removing IEDs.
I love this conversation for three reasons:
- It (once again) proves you can change careers and transition into finance from a variety of backgrounds
- I highly respect Benjamin’s conviction when it comes to serving a specific niche and staying loyal to it
- I found it fascinating how much Benjamin emphasized the behavior management component of financial planning
In this episode:
- Why niche financial planning is the future
- How behavioral management is a key component of financial planning
- Passive asset management vs. active asset management
- The new Department of Labor fiduciary standards
- Why lifelong learning is so important in any career
- Selfless service, courage, teamwork
- Why it is critical to maintain loyalty to your niche
- How to differentiate yourself from local competition
- Needing to remove yourself from the immediacy of a down market day
- The value of producing evergreen content in a service business
Music by Elijah from NOMADS