New York, NY - July 12, 2011 - In a robust, large-scale study of 4,600 affluent consumers, Kantar TNS found five banks that have achieved material organic growth in their affluent customer base over the past two years. All of these had superior performance in terms of acquiring and retaining affluent customers.

1.    Bank of America

2.    Chase Bank

3.    Capital One Bank

4.    TD Bank

5.    Key Bank

The study, "Banking the Affluent Consumer," targeted households with $100,000 or more in investable assets. This segment controls over 90% of all personal financial wealth in the U.S.

The study also found that CDs, Savings, and Money Market Deposit Accounts were the products most commonly opened by affluent households over the past year. These households are twice as likely as consumers at large to have acquired new IRA/KEOGHs accounts or Mutual Funds in the past year. They are less likely to have taken out new installment loans. Credit unions lost market share among the affluent in the 2009-2010 period.

"The dynamics of customer retention and share of wallet growth are materially different," said Joe Hagan, Senior Vice President of multi-client programs at Kantar TNS. "Despite being relatively unimportant to customer retention, effective management of customer relationships, e.g., showing customers that you know them and their history with you, and rewarding their loyalty, is critically important to growing share of wallet.  Yet affluent customers tend to give their banks low marks in these areas."


About Kantar TNS

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