In my latest column for City Wire’s New Model Adviser, I argue that the terms primary, secondary and tertiary are no longer relevant when it comes to thinking about they ways in which advisers approach platform use. These terms have been used by platform providers to describe platform choice but increasingly, advisers are choosing platforms based on client need rather than the priorities of the firm. Until now, most platforms believe advisers segment use of platform by AUA of the client. This can result in some odd segments – like those just starting out being lumped with older clients thinking about passing on wealth when they die.

In the article, I argue that taking a customer centric approach to client segmentation is better for business, keeps advice firms on the right side of the regulator and allows advisers to deliver a better service to clients.

About the Author

Heather has spent most of her career in financial services helping asset managers, platforms and financial advisers improve their propositions, customer communication and to benchmark success against competitors. She was Head of Platforum until December 2017 and has also worked in digital marketing at Hitwise and Econsultancy.

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