Affluent but forgotten: The demographic opportunity for wealth management in the U.K.
Populations are aging, defined benefit pensions are disappearing, and investment returns are challenged. These changes have affected wealth management clients, but firms are just beginning to adjust. Based on a study of 56 population segments in the United Kingdom, this report shows how the products and services offered by many current banks, financial advisors, and insurers don't adequately serve those in the middle of the "wealth pyramid" — those with liquid assets between £100,000 and £1 million. For the good of their customers and themselves, wealth management firms can develop a more sophisticated approach to segmentation, and to the design of compelling products and services. This report explains how.