Jul 09, 2019

This research discusses current trends in client segmentation, examines how established financial institutions and fintech firms are adapting, and identifies ways wealth management firms can capitalize on the emergence of new client segments.

Although private wealth managers have slowly begun to embrace the digital revolution, most have adopted digital solutions with traditional client segments in mind. Client segments such as high-net worth individuals and affluent individuals are still relevant, but they don’t account for the growing diversity of investors, with women and millennials expected to make up an increasingly larger proportion. To retain existing accounts and attract new clients, financial institutions will need to offer customized digital services that consider how gender, sexual orientation, values, age, and source of wealth influence investment preferences.

Case studies of third-party solutions focused on segmentation include: Betterment, Ellevest, and Wahed Invest

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