Written by Jason Katz, Private Wealth Advisor and Managing Director at UBS Financial Services; and Jordan Ricciardi, Senior Wealth Strategy Associate for Katz Wealth Management UBS Financial Services
“If you don’t evolve you will die” – Marcus Lemonis.
While that quote sounds harsh it is exactly right and if there is one thing I have learned in my 30 years as a financial advisor it is that if you’re not evolving you are falling behind. We are far from the day in age when picking up the phone to pitch a stock is value add for our clients. The role of a financial advisor has evolved to become a one stop shop for all financial needs whether that be estate planning, financial planning, risk management or structured solutions.
In the past, financial advisors were often seen as generalists—providing a standard suite of investment advice and retirement planning for a broad clientele. But as wealth demographics have shifted, and client expectations have evolved, so too has the role of the financial advisor. Today, the most successful advisors are those who combine financial acumen with deep insight into the unique needs of specific client segments.
This progression from broad-based advising to niche-focused service has not only helped advisors better serve their clients—it has also proven to be a smart business strategy in a competitive and rapidly changing industry.
From Product Peddlers to Holistic Partners—The emphasis used to be on transactions rather than long-term relationships. But the rise of fee-based advisory services, coupled with clients demanding more transparency and value, has pushed the profession toward a more holistic and fiduciary approach.
Modern advisors are now expected to serve as trusted partners who guide clients through every stage of life—from wealth accumulation and tax planning to estate strategies and intergenerational wealth transfers. This shift has required not only broader technical skills but also a higher level of emotional intelligence.
Why Specialization Works? In a world where clients can access low-cost investment solutions through roboadvisors and online platforms, human advisors must differentiate themselves by offering tailored, high-touch services. One of the most effective ways to do this is by specializing in client segments with distinct financial needs, values, and life experiences.
These are some segments where I have found targeted advising has proven particularly effective –
High-Net-Worth Individuals (HNWIs)
High net worth individuals often possess complex financial lives that demand highly customized strategies. Their wealth is frequently tied to illiquid assets like privately held businesses, real estate portfolios, or private equity holdings. Advisors working with this segment must go far beyond traditional portfolio management—they must navigate estate planning, tax efficiency, charitable giving, and succession planning with precision and foresight.
Moreover, HNWIs expect white-glove service and bespoke solutions that align with their lifestyle and legacy goals. Advisors who can offer a family office experience—integrating financial, legal, and generational planning—are uniquely positioned to retain and grow relationships with these clients. Building trust, maintaining discretion, and coordinating across multiple stakeholders is key to success in this segment.
Women as Wealth Decision-Makers
Women now control more wealth than ever before, and this trend is accelerating. According to McKinsey, women are set to control $30 trillion in financial assets by 2030 in the U.S. alone.[i]
Despite this, many women still feel underserved or misunderstood by traditional financial services.
Advisors who specialize in working with women understand that financial goals often encompass security, legacy, and values-based investing. They take a more collaborative approach focusing on education, long-term financial planning and life transitions such as divorce, widowhood or caregiving. UBS’s focus on women’s wealth has allowed me and my team to cater to what’s most important to our female investors and their families.
Athletes and Entertainers
High-earning individuals in sports and entertainment face a unique set of financial challenges: irregular income, short career spans, and the ever-present risk of financial mismanagement. Advisors serving this niche must understand contract structures, image rights, and the complexities of managing fame alongside wealth.
These clients often require a team-based approach that includes legal, tax, and brand management services. Advisors who can build trust and act as a central coordinator for these services are invaluable—and often become long-term partners even after the spotlight fades.
The Next Generation of Investors
Millennials and Gen Z are inheriting trillions in wealth through the Great Wealth Transfer, yet they approach money differently than previous generations. They value technology, social responsibility, and financial education. Advisors targeting this group must embrace digital tools, sustainable investing strategies and transparent communication. They’re also expected to act as educators, helping younger clients navigate student debt, career transitions, and first-time home purchases.
Establishing relationships early can lead to decades of client loyalty, especially as these investors mature and their financial needs grow in complexity.
The Future is Personal
As financial advisors continue to evolve, the industry’s future lies in personalization and specialization. Technology and automation will handle routine tasks, but the human touch (especially one informed by a deep understanding of a client’s identity and values) will remain irreplaceable.
Advisors who embrace specialization not only stand out in a crowded marketplace but also build stronger, more meaningful relationships. By aligning their services with the unique needs of their investors today’s financial advisors are redefining what it means to grow in age in wealth with their clients.
The information contained in this article is not a solicitation to purchase or sell investments. Any information presented is general in nature and not intended to provide individually tailored investment advice. The strategies and/or investments referenced may not be suitable for all investors as the appropriateness of a particular investment or strategy will depend on an investor’s individual circumstances and objectives. Investing involves risks and there is always the potential of losing money when you invest. The views expressed herein are those of the author and may not necessarily reflect the views of UBS Financial Services Inc.
Neither UBS Financial Services Inc. nor its employees (including its Financial Advisors) provide tax or legal advice. You should consult with your legal counsel and/or your accountant or tax professional regarding the legal or tax implications of a particular suggestion, strategy or investment, including any estate planning strategies, before you invest or implement.
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[i] Catania, C., & Zucker, J. (2025, May 8). The new face of wealth: The rise of the female investor. McKinsey & Company. https://www.mckinsey.com/industries/financial-services/our-insights/the-new-face-of-wealth-the-rise-of-the-female-investor
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