Marketing Financial Services to the Mass Affluent - US - December 2013
“The affluent segment is multilayered, and all of its layers are of interest to the industry. Although the group is financially comfortable, they are not immune from financial concerns. They are, however, willing to use technology to help them manage their money, and financial services providers need to highlight any cutting-edge technology that differentiates them from other providers.”
– Robyn Kaiserman, Financial Services Analyst
Some questions answered in this report include:
- How can financial services companies attract young affluents?
- How do financial priorities and challenges change with household income?
- How are affluents doing with saving for retirement?
Affluent customers are quite often the most profitable customers for financial services providers. The challenge for the industry is that, as profitable as they may be, there aren’t enough at the high end in terms of net worth to go around. Advisers and providers are therefore beginning to focus on mass affluents, the “low end” of the affluent market.
This report focuses on the challenges facing all affluents, from mass affluent to high net worth, and discusses ways advisers and providers can appeal to them and their specific needs. It also discusses what the affluent are seeking from their providers, giving both advisers and providers insight into how they can adapt their offerings and their messaging in such a way as to initiate conversations with this important segment.
This report builds on the analysis presented in Mintel’s Mass Affluent and Financial Services—US, December 2012.
For the purposes of this report, Mintel has used the following definitions:
The affluent market consists of several segments ranging from the mass affluent to the high net worth and even the ultra high net worth. Each segment has a net worth and income criteria that define it. These criteria vary, but for the purposes of this report, the minimum net worth criterion is $100K+, excluding primary residence, and the minimum income criterion is $100K.
What you get
This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.
Mintel provides a range of market information, frequently through the category level, including market size and forecasting, complete with market drivers that illustrate the forces that shape a category or market.
Mintel's proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.
Mintel provides overviews of the top brands and manufacturers, and uses consumer research to explore attitudes and reactions to brands, as well as insight into what will resonate with consumers.
Market reports provide appendices of data to support the research and insight produced. Our tables of data are easily manipulated and downloadable to support your research needs and covers factors from consumer attitudes to market forecasts.
* This is a sample representation of the report layout and does not reflect the research included in this report.
Why buy from us?
Our reports will provide you with market data, consumer research and competitive intelligence to succeed in your market.
Buy now and you'll have instant access to the information you need to make the right decisions.
Find out what's next in the markets that matter to you: where opportunities lie and what challenges you will face.
A business Superbrand, Mintel is a source you can trust. We have been defining and refining the Market Intelligence mix since 1972.