The Established Affluent
Building your high-net-worth value proposition
Download the reportOverview
Introducing the Established Affluent
The Established Affluent are some of the wealthiest and most well-established Australians who, combined, control an estimated $4.1 trillion of household wealth. They are typically over the age of 45 and comprise around 2.8 million people in Australia. These high-net-worth individuals are well educated and often have senior or management positions at work. With strong incomes and, on average, the highest investment portfolio values and superannuation balances, they form an attractive and lucrative market for financial advisers to tap into.
In Netwealth's 2022 Advisable Australian Report we pay special attention to this group, and provide a playbook for financial advisers on how to attract, advise and service the Established Affluent with seven important opportunities or tactics.
00:00 Introduction
01:53 Profiling the Established Affluent
07:25 Advice strategies for the Established Affluent
08:36 Investment advice including responsible investing
16:47 Building your value-added services beyond wealth
25:00 Inter-generational advice strategies
27:30 Service strategies for the Established Affluent
27:48 Personalisation services tactics
30:36 Digitisation and technology service strategies
38:35 Conclusion
Statistic one
The Established Affluent control $4.1 trillion of household wealth.
Statistic two
An estimated 2.8 million Australians are considered Established Affluent.
Statistic three
39% use a financial adviser with another 19% considering one.
Statistic four
1 in 3 manage investments using a digital investment platform, app, online broking service or micro-investing service at least weekly.
Roundtable
Keynote: Expert advice strategies for high-net-worth clients
Watch Netwealth's Matt Heine in this Keynote roundtable as he chats to three experts with practical high-net-worth advice experience to help you understand and tailor your strategy for the Established Affluent segment.
Matt Heine
Joint Managing Director, Netwealth
Catherine Robson
Founder, Affinity Private Advisors
Daniel Minihan
Director Head of Business and Private Client Advisory, SW Accountants & Advisors
Geoff Rae
Director, Family Office Group for ANZ Private, Victoria
Events
Masterclasses on the Established Affluent
We've brought together leading experts and captains of industry to help financial advisers learn some of the best-in-class tools, tactics and strategies that they use to attract, service and retain their high-net-worth Established Affluent clients.
Dean Holmes, Founder of The Wealth Network and TWN Partners
CPD Masterclass: Setting up your advice practice for HNW clients
Dean will take you through how to build a financial planning business which caters to the high-net-worth client and focuses on six pillars that drill down into this segment.
Eleece Quilliam, National Manager for Invesco Consulting
CPD Masterclass: Building strategic relationships for a pipeline of new, HNW clients
Based on a study of the behaviours of successful financial advisers, Eleece will provide you with a playbook to build your strategic partnerships for HNW referrals.
Meg Heffron, Managing Director of Heffron
CPD Masterclass: Super, SMSFs and technical strategies for HNW clients
Meg has a keen understanding of the super and SMSF needs of high-net-worth (HNW) individuals and will unpack key strategies for those clients with large super balances, nearing retirement.
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.
Segments
The Advisable Australian segments
The universe of Advisable Australians aged 18+ comprises about 18 million individuals, with a combined household wealth of around $9.3 trillion. Not all Advisable Australians look the same, and nor do they behave in the same way or have the same financial advice needs and preferences. We divide 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.
Learn more