Abstract
The mass affluent market (also known as the "emerging affluent" and the "near wealthy") lies roughly between the mass market and the wealthy. Mintel furthers this definition by limiting analysis to those consumers with investable assets between $100,000 and $1 million.
This growing group is often overlooked. Insurance giant AIG American General surveyed its highest-producing financial advisors and found that more than 60% could not identify any companies offering a service dedicated to this mass affluent "sweet spot."
Lack of definition means less competition, leaving an attractive and under-marketed group of financial service buyers. In fact, the mass affluent holds more financial products, uses these products more, and has higher levels of assets in these products than the population as a whole. Ninety-seven percent of the mass affluent population holds a credit card, compared to only 1/3 in the general population. They also use credit cards more--14 times a month vs. 9 times for the total population. Ninety-three percent of mass affluents own their own home, half of those mortgage free. | 
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