Summary Targeting the mass affluent demographic has worked its way up the priority list for banks and wealth managers in recent years. Some banks are not new to capturing this demographic with dedicated services, but in this digital transformation period competition for this lucrative (yet somewhat untapped) group is on the rise.
New York, July 21, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Mass Affluent Target Propositions, 2021 Update - A Key for Sustainability and Growth" - https://www.reportlinker.com/p06105025/?utm_source=GNW
Heightened competition and regulatory costs for wealth managers, low interest rate margins for banks, and new digital entrants keen to keep their business afloat are all reasons a host of players are targeting the mass affluent.
Using proprietary datasets, this report provides insight on the size of the current and future global mass affluent market. The report also examines how a selection of banks have targeted the mass affluent demographic, how their propositions have evolved over time, which services they offer, and where the strengths lie in their mass affluent propositions.
- The global wealth market will increase by 8% in 2021, surpassing the $150tn mark.
- With 2021 expected to be a more prosperous year than 2020, mass affluent investors will see their wealth grow by 6.4% in 2021, rising to just over $78tn.
- On average, banks with the overall largest share in a market also tend to have the largest proportion of mass affluent individuals.
Reasons to Buy
- Understand the size of the mass affluent market opportunity, currently and over the next five years.
- Gain insight on mass affluent investor behaviors.
- Compare your mass affluent proposition to those of banks with the largest market share in selected countries.
Read the full report: https://www.reportlinker.com/p06105025/?utm_source=GNW
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