When Clients Evolve Out Of Your Niche Specialization Should You Stay Or Go (Or Not)?: Kitces & Carl Ep 124

The hosts discuss the dilemma of clients evolving out of their niche specialization and whether to follow them or find new clients. They explore the importance of niche selection and framing discussions in terms of underlying principles. They also address concerns about client retention and maintaining the client-advisor relationship. The speakers discuss how financial advisors choose their niche specialization and the pros and cons of focusing on existing clients versus serving a specific niche. They also explore the mindset of saying yes to a specific niche and the fear of missing out on other opportunities. They discuss the challenges financial advisors face when clients evolve out of their niche specialization and the impact of scarcity mindset on decision-making. They emphasize the importance of following clients on their journey and serving existing clients well.