Marketing Financial Services to the Mass Affluent - US - December 2013
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“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:
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.
This report will give you a complete 360-degree view of your market. Not only is it rooted in robust proprietary and high-quality third-party data, but our industry experts put that data into context and you’ll quickly understand:
What They Want. Why They Want It.
Who’s Winning. How To Stay Ahead.
Size, Segments, Shares And Forecasts: How It All Adds Up.
New Ideas. New Products. New Potential.
Where The White Space Is. How To Make It Yours.
What’s Shaping Demand – Today And Tomorrow.