The high-net-worth market is very difficult to enter, with a large amount of competition and requires a level of service many advisors simply can’t offer. The economic middle market is large and certainly needs services, but the low fees one can command in this market hardly make it financially worthwhile.
The good news is that there is a third market that in many ways represents the best of both worlds. It is commonly referred to as the mass affluent market.
The mass affluent market refers to the high end of the mass market or the low end of the high net worth segment. Precisely how affluent this market depends upon who you ask. Some say it refers to those with a minimum of $100,000 to $500,000 in investable assets.
According to “The Cerulli Edge, Managed Accounts Edition,” reported the following:
“These investors are not the priority of practices targeting the higher wealth tiers, but they represent a largely untapped and profitable market for the vast majority of advisors,” the report stated.
The mass affluent certainly have money to spend. Wikipedia describes the group:
“The mass affluent have been characterized as those who save more than they spend and invest for their future. While they worry about funding their children’s college education, they realize other savings and loan options exist and they are not opposed to their children paying some part of their educational costs. The mass affluent generally may worry about replacing their paycheck in retirement, and may need to be encouraged to spend more money during their retirement years. They often wish to leave an inheritance to their children. The mass affluent will have between $500,000 and $1.5 million (USD) in investable assets upon retirement with a net worth between $500,000 and $2.5 million (USD). They spend between $4,000 and $10,000 (USD) per month in retirement.”
This certainly seems to a segment of the market that more advisors and others who are seeking to build relationships with accredited investors should be focusing on.
So…how exactly do we do this.
Here’s one way…
To preface this, this offer isn’t going to be appropriate for everyone. But, if you fit the profile, I want to develop a plan for you to attract 25 brand new affluent clients or accredited investors in the next 30 days.
And there’s no charge for me doing this.
To see if you fit the profile and learn more, GO HERE
Talk with you soon
Mark Satterfield, Gentle Rain Marketing — Author , Marketing Consulting Expert, Lead Generation, Business Development, Marketing Strategy, Get More Clients, Increase Revenue — Click here for his Facebook Twitter LinkedIn YouTube