"Mass Affluents: Attitudes and Needs in the UK" Published

From: Fast Market Research, Inc.
Published: Tue Jun 07 2016

Mass affluent populations around the world are growing in size, making them an increasingly important segment for financial providers. These consumers possess more financial products than average, maintain higher levels of savings and investments, and are more likely to use added-value services. This makes them an attractive and profitable segment to target.

Key Findings

* Mass affluents in the UK hold significantly more product types than retail consumers, with the greatest differentials for investments, insurance products, credit cards, and savings accounts. Providers should consider offering robo-advice investment tools to cost-effectively service their needs.
* Mass affluents are nearly twice as likely as retail consumers to be using a savings account to fund their retirement and to fund a future investment. Banks can help by adding savings goal features that allow savers to monitor their progress and that use prompts and notifications to modify behavior where necessary.
* Mass affluents are more willing than retail consumers to consider switching to a digital-only bank. Competitive rates will play a decisive role in persuading mass affluents to switch to a newly established provider, meaning new entrants will have to compete aggressively on price to win over mass affluents.

Full Report Details at
- http://www.fastmr.com/prod/1180381_mass_affluents_attitudes.aspx?afid=301

Verdict Financial's "Mass Affluents: Attitudes and Needs in the UK" is one of a series of snapshots offering insight into the mass affluent consumer segment in the UK. It examines mass affluents' detailed attitudes towards personal finance. This snapshot is based on findings from our 2015 Retail Banking Insight Survey.

The snapshot offers insight into:

* Mass affluents' product preferences and motivations for taking out specific products.
* Attitudes towards digital channels and new entrants.
* Preferences with respect to using financial management services.

Reasons to Get this Report

* Improve your targeting of mass affluents in the UK by learning about their preferences and attitudes to financial services.
* Identify the key drivers that motivate mass affluents to purchase key financial products.
* Learn how likely they are to switch to a new provider and their reasons for doing so.

Companies Mentioned in this Report: Atom Bank, Barclays, Lloyds Bank, loveMONEY, Mondo, Money Dashboard, Nationwide.

About Fast Market Research

Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget.

For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156 (1.413.485.7001 Int'l)

You may also be interested in these related reports:

- Mass Affluents: Attitudes and Needs in China
- Mass Affluents: Attitudes and Needs in Australia
- Mass Affluents in Hong Kong: Attitudes
- Mass Affluents: Product Holding and Preferences in Hong Kong
- High Net Worth Home Insurance 2016

Company: Fast Market Research, Inc.
Contact Name: Bill Thompson
Contact Email: press@fastmr.com
Contact Phone: 1-413-485-7001

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