- More retired investors on fixed incomes fall into the Mass Affluent segment. While they may have initially been impacted by the market crash, many may have recovered. Since they were not likely to have lost a job, the pandemic has been more likely to create fear than actual loss.
- Wealthier investors were more likely to have switched their asset allocation or they may have been invested in assets that are slower to recover. The wealthiest households may have lost more initially and may find that they are slower to recover to their pre-pandemic net worth.
- Business owners are still suffering more than other investors. Business owners often fall into the wealthier segments and, as many know, small businesses in particular have been slow to recover due to ongoing shutdowns in various states.
Despite the fact that the Mass Affluent may feel as if they have recovered, they still have many fears and concerns that financial advisors need to address. The Mass Affluent generally includes younger households as well as older retired households. These types of individuals are critical to many financial institutions. To ensure that your organization is meeting the expectations of these individuals post-pandemic, subscribe to the Mass Affluent Investor in 2020.