Report: Deepening Customer Relationships with Wealth Management Banking

by Mercator Advisory Group 0

Banks and other financial institutions are demonstrating renewed interest in reaching out to potential customers for wealth management banking products and services, even those on the lower end of the wealth spectrum. In new research,

Deepening Customer Relationships with Wealth Management Banking, Mercator Advisory Group discusses why and how financial institutions are expanding their outreach to this market

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“Consumers—particularly affluent and very wealthy banking customers—are increasingly interested in accelerating their savings and investments efforts, which represents opportunities for financial institutions to deepen their customer relationships and increase share of wallet by offering wealth management products and services,” comments

Edward O’Brien, director of Mercator Advisory Group’s Banking Channels Advisory Service and author of the research note.

Highlights of this research note include:

  • Banking institutions’ definition of the wealth management market by wealth tier based on individual or household investable assets

  • Market size in the United States

  • Various business models that banks and other financial institutions are using to serve the spectrum of wealth management customers cost-effectively

  • Mercator Advisory Group’s CustomerMonitor survey findings on U.S. consumers’ current use of financial advisors by demographic segment

  • Mercator’s survey findings on consumers’ willingness to try modes of wealth management services that are cost effective for financial institutions


This research note is 10 pages long and has 5 exhibits.

Organizations mentioned in this research note include: Barclays, BBVA Compass, BB&T, BNY Mellon, Bank of America, Chase, Citi, City National, Citizens Bank, Coastal Federal Credit Union, Key Bank, NAB, Nutmeg, Navy Federal Credit Union, PNC, Regions, Santander, Standard Chartered, USAA, U.S. Bank, Wealth Horizons, Wells Fargo, and Zions Bank.