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. ...

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