The recent economic crisis significantly decreased client trust in wealth management firms, resulting in a shift toward personalized services and safer products such as fixed income securities. However, the mass affluent in the U.S. offer the wealth management industry high growth opportunities. This segment has around 33 million individuals, representing around 43% of the country’s investable assets. Only 18% of the mass affluent are estimated to have yet availed financial planning services.

Over half of the baby boomer population (those born between 1945-1965) is included in the mass affluent segment. Having accumulated significant wealth, this population is expected to require financial advice for retirement planning in the coming decade, presenting further growth opportunities for wealth management firms.

Firms are opting for new operational models in order to recover losses and compete effectively in the changing scenario. They are increasingly forming consolidations and focusing on client relationship management to retain clients and attract new assets. The retainer fee pricing strategy has also caught up, replacing the traditional transaction fee based model.

The agenda of the analyst briefing is to provide vital market information about the changing trends and the new opportunities in the wealth management industry. The briefing offers recommendations to wealth management firms intending to capitalize on the mass affluent segment. Intensive investor analysis by wealth and product needs will enable product development and provide a roadmap to the future of novel wealth management practices for the mass affluent segment.

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