Report

Client Segmentation and Targeting in Wealth Management: Dig Deeper, Move Faster

Making goals-based investing and financial planning accessible and cost-effective across different client types is crucial for wealth managers.
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London, 1 July 2021 – Client segmentation done right is vital to profitability for any wealth manager. It is essential for financial institutions to get their segmentation strategies correct to target and engage their clients and prospects in a relevant way. And as segmentation strategies mature, wealth managers globally need to think about the types of clients they want to continue serving and how their targeting, engagement, and overall business models will evolve to ensure tangible added value.

This Impact Report examines how customer segmentation strategies have been evolving in wealth management in recent years, what the main drivers are, what the status quo is, and how forward-thinking firms are ripping up the rule book and creating new ways of viewing their clients. It is based on 12 qualitative primary interviews that were carried out between February 2021 and May 2021 with senior executives at wealth management firms, consultants, and technology vendors across Europe and North America.

This 49-page Impact Report contains 11 figures and four tables. Clients of Aite Group’s Wealth Management service can download this report, the corresponding charts, and the Executive Impact Deck.

This report mentions ABN AMRO, Bank of America Merrill Lynch, Barclays, BNP Paribas Wealth Management, Brewin Dolphin, Canopy, CaixaBank, City National Financial, Citi Private Bank, Coutts, Credit Suisse, Edward Jones, Ellevest, Emirates NBD Bank, First Republic, Goldman Sachs, HSBC, JPMorgan, Julius Baer, Investec, Lufax, Monument, Morgan Stanley, Northern Trust, Nutmeg, RBC, Reyl & Cie, Santander, SoFi, Stash Wealth, UBS, Wealthfront, and Westpac.

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