Financial Advisor Business Plan Template [Updated 2024]

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IV. Customer Analysis

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Demographic Profile of Target Market

[Company Name] will serve the residents of [company location] and the immediately surrounding areas as well as those who work in [company location].

The area we serve is populated mostly by the middle- and upper-middle class; as a result, they have both the need for financial advisory services and the means to pay for it.

The precise demographics of the town in which our location resides is as follows:

Total Population26,09710,725
Square Miles6.893.96
Population Density3,789.202,710.80
Population Male48.04%48.84%
Population Female51.96%51.16%
Target Population by Age Group
Age 18-243.68%3.52%
Age 25-345.22%4.50%
Age 35-4413.80%13.91%
Age 45-5418.09%18.22%
Target Population by Income
Income $50,000 to $74,99911.16%6.00%
Income $75,000 to $99,99910.91%4.41%
Income $100,000 to $124,9999.07%6.40%
Income $125,000 to $149,9999.95%8.02%
Income $150,000 to $199,99912.20%11.11%
Income $200,000 and Over32.48%54.99%

Customer Segmentation

The Company will primarily target the following customer segments:

  1. Aging Baby Boomers: The area in which the Company will operate has a significant population of baby boomers. This generation is rapidly approaching their retirement age, and has a great deal of disposable or discretionary income. After experiencing a life of great financial prosperity, these are often married couples or empty nesters. They seek to ensure that their own nest eggs will support the lifestyle they want to live after they stop working, and that their wealth will be preserved appropriately for future generations of family members. These customers typically have extensive networks of individuals in similar economic circumstances, and as such will be an excellent source of referrals.
  1. Middle-aged Professionals: [Company name] is located along a well-traveled commute route. By offering a convenient location, effective advertising, and a strong product mix, the Company will draw in a significant crowd of professionals with rising earning power, who wisely seek to manage their money for the future.
  1. Young parents: There is a growing population of young parents with small children in the Company’s immediately surrounding area. These people will seek solutions to provide for the future economic well-being of their new families, purchasing services such as life insurance.


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