Segmenting clients has become a crucial part of an adviser's work since the RDR imposed rules to do as much.
But how one segments those clients is open to question.
Does an adviser just do it just by assets under management, or by complexity, or indeed where they are on their retirement journey?
The issue has become more pressing, as under rules springing from Mifid II, this has become a much more sophisticated process, and providers now have to be involved as well.
This guide seeks to explain how advisers should go about segmenting their client base, and how to make sure they comply with the rules, as well as some of the pitfalls that can occur with segmenting clients.
My thanks go to: Graeme Jones, regulatory policy and technical consultant at Bankhall; Chris Davies, founder of Model Office; Rory Percival, regulatory expert at Rory Percival Training and Consultancy; Jamie Farquhar, business development director at Square Mile; Jiten Varsani, mortgage and protection adviser at London Money; Mark Polson, principal at the Lang Cat; Don Scott, technical director at TCC