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Financial Advisor Business Plan Template [2020 Updated]

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V. Competitive Analysis


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

Direct & Indirect Competitors

The following financial advisory firms are located within a 20 mile radius of [Company Name], thus providing either direct or indirect competition for customers:

Prudential Financial

Prudential Financial is the city’s only major financial advisory firm. The company focuses primarily on the sale of life insurance however, and offers financial advice as a support to its primary business.

As the second largest US life insurer, Prudential focuses its efforts on maintaining top position through the sale of individual life insurance, long term care, and disability insurance.

Prudential also offers financial advice. This includes asset management services, mutual funds, and retirement services.

Internet Brokers

Many internet brokers have emerged since 2001 and cater to those individuals looking for minimal advice while having more felt control over their investments. These firms often offer personal banking and investment tools for stocks, mutual funds, ETFs, and other securities.

Furthermore, internet brokers offer professional advice and software products such as ratings on securities and articles from industry experts. However, they leave the final act of investing in the hands of the individual.

These online brokers commonly refer to themselves as discount brokers, and charge anywhere from $5 to $13 per trade. Premium accounts may be charged flat rates or given a number of free trades per month, but typically require a certain amount of account activity.

Some of the more notable online brokerage firms are E-Trade, Scottrade and Charles Schwab.

Competitive Advantage

[Company Name] enjoys several advantages over its competitors. These advantages include:

  • Location: [Company Name]’s location is near the center of town, in the financial district of the city. It’s visible from the street with many working professionals walking to and from work on a daily basis; giving passerby’s a direct look at our firm, most of which are part of our target market.
  • Client oriented service: [Company Name] will have a full time assistant to primarily keep in contact with clients and answer their everyday questions. [Founder’s Name] realizes the importance of accessibility to his clients, and will further keep in touch with his clients through monthly presentations, seminars, and updates per email and newsletters.
  • Management: [Founder’s Name] has been extremely successful working in the financial services sector and will be able to use his previous experience to grant his clients detailed insight into the financial world. His unique qualifications will serve customers in a much more sophisticated manner than [Company Name’s] competitors.
  • Relationships: Having lived in the community for 25 years, [Founder’s Name] knows many of the local leaders, newspapers and other influences. Furthermore, he will be able to draw from his ties to the community in order to build up a heavy asset base in a short amount of time.
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