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Mass affluent and affluent consumers have a greater need
for financial advice than the average consumer. With greater
wealth, these people are more likely to be engaged in investment
activities, and other financial markets that typically require advice.
However, with an amendment to the definition of advice and the
growth of automated advice services, the market is currently in
a state of change. While many consumers and advisers are still
wedded to traditional methods of advice, others are looking to
branch out into the digital world, particularly in the mass affluent
sector.
The focus of this Report is on mass affluent and affluent
consumers, defined as:
• Affluent – with investable assets of £250-500k.
• Mass affluent – with investable assets of £100-250k.
As Mintel’s consumer analysis is based on a targeted sample of
500 individuals with £50k+ in investable assets or £100k+ in gross
annual household income, the following group is also included:
• Aspirational – with investable assets of £50-100k or £100k+ in
gross annual household income.
| Date of Publication | 2017 |
|---|---|
| Pages | 47 |
| File Format |
