The fastest growing advice and planning firms are considering client behaviours and values when defining their ideal target clients, according to Dimensional Fund Advisors regional director Elliott Poole
Speaking at the NextGen Planners Elements conference today (12 July), Poole explained that at first, most advisers just consider their client's demographic profile. This includes age, nationality, gender, generation, family, income, wealth and education. "This needs to expand to the behavioural," he suggested. A behavioural profile includes thinking about what, when, how and where. Poole explained that for advice and planning firms to go to the "extra mile", they then must consider psychographic client factors. These are their personality, lifestyle, social status, activities...
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