Mass Affluent
An individual is considered to be mass affluent if they possess considerable funds but not enough to be considered a high-net-worth individual. The exact amount can vary between $100,000 and $1 million USD.
Therefore, while the exact numbers do vary, the wealth tier above mass affluent is typically recognised as high net worth individuals and the wealth tier below mass affluent is recognised as emerging affluent or the middle class.
Affluent customer, wealthy mass market
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Examples
A bank can identify a customer with $250,000 USD in investable assets as part of the mass affluent segment. They may then offer this customer specific benefits such as a premium checking account or waived fees.
FAQ
What makes someone a mass affluent customer?
A mass affluent customer typically has investable assets between $100,000 and $1 million, excluding primary residence value, making them more affluent than the average person but not enough so to qualify as a HNWI.
What services do banks offer to mass affluent clients?
Banks typically offer mass affluent customers additional services or benefits, such as premium or priority banking, personalized financial planning, exclusive investment opportunities and so on.
How to identify affluent customers?
Affluent customers are typically identified by looking at their financial records, spending power, and household income. In this context, looking at the person’s account activity, transaction patterns and real-estate holdings can be essential.
