The Emerging Affluent
The fight for the future market
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Introducing the Emerging Affluent
The Emerging Affluent are younger, well-educated, mostly professional Advisable Australians with higher-than-average incomes, household wealth that is growing, and a strong appetite for investing. The Emerging Affluent, like no other, are most likely to use financial advice today (39.9%) or most likely to take up advice soon (51.5%). For wealth businesses to thrive in the future, The Emerging Affluent is a critical market to be aware of and develop key client strategies for. This report is a playbook on how to attract, manage and retain The Emerging Affluent.
The Emerging Affluent control $1.8 trillion of household wealth.
An estimated 1.9 million Australians are considered Emerging Affluent.
40% use a financial adviser with another 33% considering advice, most in the next 5 years.
57% manage investments using a digital investment platform, app, online broking service or micro-investing service at least weekly.
Videos
Watch now: Masterclass Video Series
Supporting our latest research, The Advisable Australian Report, we've created a Masterclass Video Series that will take your learning to a whole new level and give you the insights and confidence to unlock new business opportunities.
Designing a client experience that drives growth
Learn the fundamental truths about client experience from speaker, author, Founder and CEO of Absolute Engagement, Julie Littlechild.
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How segmenting your client base can make your business better
Join Simon Hoyle, Head of Market Insight at CoreData Research, to learn new ways to understand, profile and segment your client database.
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Constructing the Right Advice Fee Model for the Emerging Affluent
Join Rob Jones, Co-Founder of Peloton, as he pulls apart service profile of the Emerging Affluent to create a dynamic pricing model.
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The Emerging Affluent - Gen Y and advice
Andrew Braun, Netwealth's General Manager of Marketing, will provide a playbook on how to attract, manage and retain The Emerging Affluent.
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Discover the possibilities with Netwealth
Access the latest technology and innovations with Netwealth. Our focus is on ease and efficiency, which means we give you and your clients enormous capabilities without the complexity.
Segment overview
The Advisable Australian segments
We've coined the term 'Advisable Australian' to represent those Australians who are most likely to use or seek financial advice today. Based on our latest research, the group comprises about 18 million Australians aged 18+ with a combined household wealth of around $9.3 trillion.
Advisable Australians are defined not just by their age and wealth, but also by several important factors, such as their financial literacy and resilience, which leads to them having different financial advice needs and preferences. To help us understand them better we've divided the universe of Advisable Australians into four distinct groups.
Established Affluent
Over 45 years old, wealthy individuals, highly engaged in investing and most likely to already have an adviser. The approximately 2.8 million Established Affluent Advisable Australians have total household wealth of about $4.1 trillion.
Emerging Affluent
Under 45 years old, wealthier individuals, highly engaged and interested in investing, and most likely to seek an adviser. There are approximately 1.9 million Emerging Affluent Advisable Australians accounting for about $1.8 trillion of household wealth.
Established Mass Affluent
Over 45 years old, lower-income earners with fewer investments. The 8.0 million Established Mass Market Advisable Australians account for about $2.3 trillion of household wealth.
Emerging Mass Affluent
Under 45 years old with modest to low wealth, with low levels of investment. Approximately 5.3 million Emerging Mass Market Advisable Australians account for about $1.1 trillion of household wealth.
The Six Dimensions
What defines the Advisable Australian
Are you ready to reach a thriving market? To find out what the Advisable Australian looks like and how they behave you must first understand the six dimensions that defines them:
Financial Capability
Financial Capability is a measure of financial awareness, knowledge, confidence, ability to take control and access financial-related services.
Learn moreFinancial Resilience
Financial Resilience is a measure of financial preparedness and ability to navigate and withstand unexpected shocks and threats to financial security.
Learn moreFinancial Wellbeing
Financial Wellbeing is a measure of the impact on physical, mental and social health in relation to wealth and finance.
Learn moreAdvice Propensity
Advice Propensity is a measure of the likelihood to seek or use financial advice services and the perceived barriers to using financial advice services.
Learn moreTechnology Adoption
Technology Adoption is a measure of the technology usage, savviness, confidence and the value found in digital services.
Learn moreBrand Affinity
Brand Affinity is a measure of perceptions, attitudes and loyalty when a person is evaluating a business.
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