For most banks, making inroads with the mass affluent population -- those with liquid investable assets ranging from US$250,000 to $1 million— has proven difficult. But banks have an under appreciated advantage with the “rising mass affluent” (RMA)— those between 30 and 49 years old. These individuals are more likely to be looking for a close relationshipand a wider range of services from their financial services institution. A few common capabilities can serve banks well: building client awareness, creating integrated delivery models, developing online and mobile capabilities, and aligning organizations around horizontal collaboration. Download the full report at: http://www.booz.com/global/home/what-we-think/reports-white-papers/article-display/wealthy-young-and-ambitious

1. Wealthy, Young
and Ambitious
How Banks Can
Profitably Serve the
Rising Mass Affluent
by Paul Hyde, Ashish Jain
and Suzanne Lyman
Read more on
www.booz.com

2. Only 20-30% of retail banking customers
are categorized as
but they generate
mass affluent,
60-70%
of banks’ profits.
Wealthy, Young, and Ambitious
How Banks Can Profitably Serve the
Rising Mass Affluent

3. 26%
of the mass affluent in
a recent Booz & Company survey*
are
Gen-Xers:
the “Rising Mass Affluent” (RMA).
They have unique needs and preferences.
* Based on a Booz & Company survey of over 1,100 mass affluent consumers
Wealthy, Young, and Ambitious
How Banks Can Profitably Serve the
Rising Mass Affluent

4. The RMAs top 3 investment priorities
saving for retirement,
protecting current assets,
and growing household wealth.
are:
Wealthy, Young, and Ambitious
How Banks Can Profitably Serve the
Rising Mass Affluent

5. RMAs are
14% more willing
to use their primary
banks
for investments, compared
to older mass affluent consumers.
Wealthy, Young, and Ambitious
How Banks Can Profitably Serve the
Rising Mass Affluent

6. 53% of RMAs think
financial advisors are important,
yet
59% do not have one.
Wealthy, Young, and Ambitious
How Banks Can Profitably Serve the
Rising Mass Affluent

7. Learn more about the
Rising Mass Affluent
and how financial services providers
can win them over.
view the full report >
Wealthy, Young, and Ambitious
How Banks Can Profitably Serve the
Rising Mass Affluent