November 2014, BOSTON. New research from global analytics firm Cerulli Associates shows that at the end of 2013, U.S. households controlled $33.5 trillion in investable assets – up from $29.9 trillion in 2012.
"Thanks to another strong year in the stock market, U.S. household wealth was lifted significantly on an aggregate basis," Roger Stamper, senior analyst explains. "The mass-affluent market has the highest concentration of total financial assets."
Cerulli's latest report, U.S. Retail Investor Advice Relationships 2014: Evolving Roles in Client Relationships, provides perspective on the relationship between financial providers and retail investors. It covers the provider-client relationship from end to end, starting with client acquisition, progressing through advice delivery, investment management, pricing, and client retention strategies.
"Among the 122 million U.S. households that reached $33.5 trillion in 2013, 27 million are occupied by individuals under the age of 40 with investable assets of less than $100,000," Stamper continues. "These households have years of accumulation ahead of them, not to mention the expected wealth transfer from their Baby Boomer parents in the years to come."
"While many households may not need comprehensive advice, they could benefit from simple financial guidance or even a basic investment management account to help shape them as young investors," adds Tom O'Shea, associate director at Cerulli. "Older households could benefit from investment services for which they would be unlikely to receive, based on their level of assets. These services could enhance future retirement income results."