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Market Research Report

Mass Affluent Target Propositions, 2021 Update - A Key for Sustainability and Growth

Published by GlobalData Product code 1018387
Published Content info 42 Pages
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Mass Affluent Target Propositions, 2021 Update - A Key for Sustainability and Growth
Published: July 8, 2021 Content info: 42 Pages
Description

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. 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.

Scope

  • 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.
Table of Contents
Product Code: GDFS0334IA

Table of Contents

Table of Contents

  • Executive Summary
  • Market overview
  • Key findings
  • Critical success factors
  • Sizing and Forecasting
  • The global wealth market will increase by 8% in 2021, surpassing the $150tn mark
  • Mass affluent investors will see their wealth grow by 6.4% in 2021 to just over $78tn
  • Mass affluent investors maintain a diversified portfolio
  • Mass affluent thresholds vary across countries and banks
  • Targeting the mass affluent is key for sustainability and growth
  • Competitive Dynamics
  • Mass affluent strength is an outgrowth of a large market share
  • Niche mass affluent propositions are being launched at pace
  • The emerging affluent and new HNW individuals are not being neglected
  • HSBC Premier
  • DBS Treasures
  • Citigold
  • Barclays Premier
  • Bank of America's Merrill Edge

Appendix

  • Abbreviations and acronym
  • Secondary sources
  • Further reading
  • About GlobalData
  • Contact Us

List of Tables

List of Tables

  • Table 1: Mass affluent proposition thresholds vary from bank to bank
  • Table 2: HSBC Hong Kong offers dedicated services for the mass affluent, HNW, and UHNW
  • Table 3: HSBC Premier services (Hong Kong)
  • Table 4: DBS offers three services, ranging from the mass affluent to the UHNW
  • Table 5: DBS Treasures (Singapore)
  • Table 6: Citibank targets the emerging affluent as well as mass affluent and HNW individuals
  • Table 7: Citigold US services
  • Table 8: Barclays provides dedicated services for mass affluent to UHNW individuals
  • Table 9: Barclays Premier services
  • Table 10: Bank of America offers multiple options for different affluent groups
  • Table 11: Bank of America Merrill Edge provides services for the mass market to the mass affluent

List of Figures

List of Figures

  • Figure 1: The value of liquid assets for the mass affluent will surpass $90tn by 2025
  • Figure 2: The mass affluent market harbors the largest share of wealth across most regions
  • Figure 3: Mass affluent investors have diversified portfolios despite property holding a significant proportion
  • Figure 4: Mass affluent consumers prefer a wide range of providers for their investments
  • Figure 5: Most wealth managers agree that robo-advice can help reach untapped demographics
  • Figure 6: Net interest margins for banks have either stagnated or reduced over the past decade
  • Figure 7: Banks' overall current account market share correlates with their mass affluent market share
  • Figure 8: HSBC leads in Hong Kong in terms of mass affluent market share
  • Figure 9: HSBC Premier customers have Premier status worldwide - something few competitors can match
  • Figure 10: DBS leads in terms of mass affluent current account market share in Singapore
  • Figure 11: The DBS Treasures website leads with a focus on technology
  • Figure 12: DBS Wealth Chat was launched in 2018
  • Figure 13: Citibank does not have a significant share of the mass affluent current account market in any country
  • Figure 14: Citigold provides a wide range of travel and lifestyle benefits
  • Figure 15: The UK mass affluent market is spread across multiple players
  • Figure 16: Barclays Premier offers exclusive services on top of its Personal Banking proposition
  • Figure 17: Bank of America holds over a quarter of the mass affluent current account market in the US
  • Figure 18: Merrill Edge offers three different digital investment and trading platforms, including a hybrid option
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