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
Barclays Premier
Bank of America's Merrill Edge
Abbreviations and acronym
Secondary sources
Further reading
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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
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

Companies Mentioned
- Barclays
- Citibank
- Bank of America
- Monument
- Goldman Sachs
- Nutmeg
- Wealthfront
- Betterment