Since 2010, the number of households in this wealth segment has grown by more than 30%, and their wealth in real terms has grown by more than 50%. The mass-affluent segment today comprises 28% of all U.S. households and accounts for 25% of total household net worth. This segment, which generates nearly US$600 billion in revenues across all financial services—including deposits and loans, investments and retirement savings, and property and casualty and life insurance—is the “bread and butter” of wealth managers and other financial services institutions. How effectively these firms serve this segment is a major driver of their own profitability and success.
This report is the second in a series that examines household wealth in the U.S. This report provides a detailed analysis of mass-affluent households, which Datos Insights defines as those with financial assets between US$100,000 and US$1 million. The figures and insights in this report are based on an analysis of 1,118 mass-affluent households that participated in the 2022 Survey of Consumer Finances (SCF), a triennial survey sponsored by the Federal Reserve.
Clients of Datos Insights’ Wealth Management service can download this report.
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