Assessing the Consumer Financial Products Landscape

There is a clear and consistent relationship between household income and financial product ownership, both the breadth and sophistication of it. Higher-income households ($100K+) demonstrate materially greater financial engagement and portfolio diversification than those earning under $100K. Across core banking and investment products, the ownership gap is particularly pronounced in products associated with wealth accumulation, long-term planning, and more complex financial behaviors, while basic, transactional products show narrower differences.