Client segmentation

Client segmentation assigns clients to regulatory categories based on knowledge, experience, assets, status or regulatory supervision. Under Swiss financial services rules, the main categories are private clients, professional clients and institutional clients, with different disclosure, documentation and conduct duties. Segmentation affects suitability and appropriateness checks, product documentation and available investment universe. Clients may sometimes opt in or opt out if legal conditions are met. Financial service providers must record the classification and reassess it when relevant circumstances change.