Client segmentation expected to grow amongst advice firms

This is expected to increase due to Consumer Duty

Isabel Baxter
clock • 1 min read

More financial advisers are going to be segmenting their client base in 2024, according to Aegon and NextWealth.

The 2024 Managing Lifetime Wealth report - published jointly by the research consultancy and asset manager - revealed that just over half (54%) of financial advisers segment their client-base and 10% said they expect to start doing this in 2024. Client segmentation has been a hot topic for advisers for many years, with the Consumer Duty's focus on target markets adding to this, according to report. "On paper, it makes sense but in practice it can be difficult to implement and deliver, particularly in an area like retirement advice where client needs are so varied," the report stated. ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your Business

All the advice firm acquisitions that have taken place in 2025

All the advice firm acquisitions that have taken place in 2025

Keeping track of the ongoing consolidation of the advice industry

Professional Adviser
clock 03 July 2025 • 2 min read
Brooks Macdonald launches financial planning brand Brooks Financial

Brooks Macdonald launches financial planning brand Brooks Financial

Follows Lift, Lucas Fettes and CST acquisitions

Jen Frost
clock 01 July 2025 • 2 min read
Legal insight: Workplace discrimination and dispute resolution

Legal insight: Workplace discrimination and dispute resolution

'In my view, litigation is and should always be a last resort'

Karen Jackson
clock 27 June 2025 • 4 min read