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Mass Affluent Relationships: U.S. Market
Synergistics Research Corporation, Jan 2009, Pages: 144
This study examines the financial services profile of the mass affluent market. Their attitudes and involvement with depository accounts, investments, and financial providers are explored. Experience with delivery and marketing channels is also assessed.
Research Design
This study is the third in a series of recent studies by Synergistics examining the mass affluent market. Results will be compared and integrated with previous studies. The study comprised a United States Internet Survey -- 800 consumers age 18+ with investable liquid assets of $100K to $1M -- including 400 with assets of $100K-$499K and 400 with $500K- $1M.
Research Issues
The mass affluent sector, typically defined as those having investable liquid assets of $100,000 to $1M, is an important and lucrative segment for financial services providers. Many organizations, including banks and investment firms, are looking to acquire mass affluent dollars and grow these relationships through cross-selling. However, for many of the mass affluent, the current environment may have caused the goal of wealth appreciation to take a back seat to wealth preservation.
Questions to be Answered Include:
- What has been the impact of the financial crisis on the mass affluent market?
- How has this market weathered the financial storm?
- What changes have occurred in the usage of various financial products and services?
- To what extent are provider relationships with this segment fragmented?
- What type of organization is considered to be their primary provider?
- What is the response of the mass affluent to some investment organizations adopting bank holding company status?
- Professional advisors have always played an important role, but have usage patterns changed?
- Is market uncertainty driving many mass affluent investors, including online investors, to seek professional advice?
- Do these investors want full-time management for their investments or a more hands-off approach?
- Are wealth management programs appropriate for this market?
The widely Internet-savvy mass affluent are also poised to become users of various innovative delivery options including mobile banking and direct banking. How important are traditional banking products and delivery channels to the mass affluent?
These are just some of the many questions and issues that need to be evaluated as providers develop mass affluent marketing programs for a new financial marketplace. Providers pursuing the mass affluent market need a clear understanding of this customer.
** Please note that due to restrictions this report cannot be sold to clients in the US or Canada**
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