Demographic Profile of Target Market
Prime Wealth Financial Advisors will target individuals to include retirees, government officials, small businesses, and families in Philadelphia, Pennsylvania. The majority of clients will be small businesses who they can gain as clients and be able to manage their retirement accounts such as a 401K retirement account for their employees. By having one small business as a client allows Prime Wealth to manage numerous employees and their retirement and investment portfolios.
Prime Wealth Financial Advisors will also target federal and local government employees who need assistance managing their pension for their upcoming retirement. These individuals are either military, are employed by a government institution such as the Department of Defense, law enforcement, firefighters, teachers, and politicians.
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They will also target those individuals that are near retirement age or nearing retirement age within the next ten years. Many individuals don’t set aside retirement accounts until late in their career after student loans are paid off and/or their children’s college is paid for. Prime Wealth Financial Advisors have developed specific strategies for these clients where they are able to plan for a large retirement account despite getting started later than those early in their career.
While a large client base will be focused on saving for retirement solely, other target clients will be those that are between the ages of 25 – 50 that are looking to increase their wealth by investing in the stock market and need a reliable company to place their money in stocks that are built around their risk comfort level.
The precise demographics for Philadelphia, Pennsylvania are:
|45 to 54 years||177,275||11.20%|
|55 to 59 years||90,607||5.70%|
|60 to 64 years||92,666||5.80%|
|65 to 74 years||128,077||8.10%|
|75 to 84 years||65,187||4.10%|
|85 years and over||28,086||1.80%|
|Sector||Number of establishments||Number of employees|
|Transportation and warehousing||937||48,292|
|Finance and insurance||2,661||72,545|
|Real estate and rental and leasing||2,336||16,218|
|Professional, scientific, and technical services||5,288||53,825|
|Administrative and support and waste management and remediation services||2,430||105,547|
|Health care and social assistance||4,267||107,483|
|Arts, entertainment, and recreation||416||10,741|
|Accommodation and food services||2,958||69,330|
|Other services (except public administration)||2,204||20,997|
Prime Wealth Financial Advisors will primarily target the following customer profiles:
- Small businesses
- Government employees
- Those nearing retirement age within ten years
- Ambitious professionals and/or entrepreneurs looking to increase their wealth by investing in the stock market