Wealth management firms are also increasingly adopting technological advances to cater to the needs of modern customers and young HNWIs
Albany, NewYork (PRWEB) September 08, 2014
Increased competition, together with the rise of DIY investment platforms, have encouraged wealth management firms to adopt new segmentation strategies to target customers.
The new segmentation strategies emerged to accommodate the complex needs of private individual clients by targeting them according to their interests, needs, behavior and attitudes to investments, instead of by demographic trends. This method thus allows wealth management firms to focus on customers’ specific needs and provide customized products and services. It also allows firms to increase their profit margins by providing the right products and services.
Wealth management firms are also increasingly adopting technological advances to cater to the needs of modern customers and young HNWIs.
The report covers the following areas:
An overview of the global wealth management market
Innovation in wealth management practice
Analysis of brand loyalty
The future of innovation in wealth management
The report is based on a unique analysis of WealthInsight’s proprietary HNWI database comprising more than 100,000 individuals, and focuses on four regions: the Americas, Europe, Asia-Pacific, and the Middle East and Africa.
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New Segmentation strategies are being adopted by wealth management firms to provide niche products and services to customers.
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