Date Added: Jul 2010
Mass affluent investors constitute one of the largest and fastest - growing segments of the wealth management market. In 2004 the Pool of assets under management held by mass affluent investors in the United States grew by almost one-third to $9 trillion, significantly outstripping asset growth among other categories of investors. Mass affluent investors are looking for good investment and advisory offerings - and banks have long eyed this potentially lucrative market. In an effort to exploit the opportunity, most banks now sell mutual funds through licensed representatives. Some, like Bank of America and Wachovia, have established dedicated premier-banking units to target these customers and grow market share.