Industry Debates Wooing the 'Mass Affluent'
American Banker (11/29/01) p.B7A; Hunter, Matthew

Wealth managers at advisory firms, banks, and brokerages, in the face of the slowing market, are beginning to wonder whether cultivating the "mass affluent" is worth the effort, since they are the least profitable clients among the wealthy, they demand more comprehensive advice, and there are fewer of them. However, some wealth managers say that the younger members of this sector have the capability to become very wealthy over the long term and are worth cultivating.

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