Understanding client segmentation within a practice is critical for planners. But while planners may know what different client segments they serve, too often they aren’t using that information to change their practices accordingly, says Matt Matrisian, director of practice management for Genworth Financial Wealth Management. Financial Planning spoke to Matrisian about ways advisors can understand the profitability of different client segments and also how they can approach pricing for the smallest client segments.
Q: How can advisors understand and analyze their different client segments and whether or not they’re serving those different types of clients profitably?
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