Mass affluent

The outlook is “scary” for wealth managers who will deal with the newest generation of clients, says David Wilson, head of Capgemini Financial Services strategic analysis.

U.S. Bank, Bank of the West and Bremer Bank have introduced new initiatives that assign the mass-affluent not just an advisor but a banker too – despite intense price competition from robos.

"There's a plethora of [private equity firms] sniffing around, and I think all the big firms are being pursued," says Brent Brodeski, CEO of Savant Capital Management.

In a bid to attract more mass-affluent clients, the bank is calling on bankers and advisors to work in teams.