A recent survey conducted by HNW, Inc., a marketing and technology firm serving financial services institutions, aimed to ascertain what ‘mass affluent’ investors — those with liquid investable assets of between $100,000 and $1 million — want from their retail banks in terms of financial advisory services. The results, released yesterday at a press gathering in New York City, can be extrapolated to independent advisors trying to market to this growing segment.
Results were culled from a survey of more than 400 individuals in August of this year. HNW said the persons polled had at least $100,000 in liquid investable assets with some holding up to $3 million. The firm also maintains the mass affluent class is the fastest growing wealth segment in the country and currently accounts for one-third of all retail investment assets.