Wealthy, young, and ambitious: How banks can profitably serve the rising mass affluent

For most banks, making inroads with the mass affluent population — those with liquid investable assets ranging from US$250,000 to $1 million — has proven difficult. But banks have an under appreciated advantage with the “rising mass affluent” (RMA) — those between 30 and 49 years old. These individuals are more likely to be looking for a close relationship and a wider range of services from their financial services institution. A few common capabilities can serve banks well: building client awareness, creating integrated delivery models, developing online and mobile capabilities, and aligning organizations around horizontal collaboration.