What are the table stakes?

For IAs looking to refine their market positioning for the high-net-worth space, many focus on conveying what they do for this type of client.

While this is useful, there’s another question advisors should answer first: What does this type of client assume you do? Because when you level up your market, the table stakes change, and understanding this shift can help you do more with what little time you have to make an impression.

Advisors often share with us things like, “Lots of IAs don’t do this level of planning,” or “The average advisor doesn’t have these credentials,” and those points are important to know. But the reality is that the advisors you’re comparing yourself to might not be the ones your new ideal client is working with or being approached by. Rather, the advantages you’re highlighting might be part of a base-level expectation for high-net-worth individuals who work with premium, family office–style firms.

Consider what type of service a HNW client might be getting now, and what might be offered to them by other firms operating in this space. From here, it should be easier to determine which aspects of your service could stand out as differentiators or value-adds.

To be clear, your planning capabilities and credentials are still worthy of sharing within your brand collateral—but defining the table stakes affects when and how you communicate those points. It changes what you foreground in materials to which a valuable lead will devote only a few minutes or a few seconds. Once you understand what’s expected, you can focus on what will be engaging.

Taking this step can also send the message that you understand what this type of client needs, you value their time and you’re well-practiced at serving individuals with high expectations.