I read an interesting report the other day about how Swiss banks are targeting individuals with a net worth of $1 – $5 million, also known as the “Core Affluent.” The reason is simple – banks are finding that these individuals are easier to work with and more profitable than people with higher levels of wealth. One observation is that people in this wealth group are aspiring to be wealthier and see the private banker as a sign they are making progress. Wealthier individuals see private banking as more of a commodity and tend to shop around for the best deals.

Could the same be true for fundraisers? Is it possible that people who are part of the Core Affluent might be aspiring philanthropists who see the fundraiser as another sign of their growing wealth? If so, then fundraisers should be seeking out these individuals and creating giving opportunities that match their wealth and aspirations. Utilize your higher net worth donors in the cultivation and solicitation process so that the aspiring philanthropists feel part of their world even though they are not yet capable of making a gift at their level.

The bottom-line for both private bankers and fundraisers is that there are a whole lot more people worth $1 – $5 million than there are at higher levels so focusing resources here just makes good economic sense. Of course if you are fortunate enough to have too many super wealthy individuals and don’t have the time for the Core Affluent, more power to you and thanks for leaving these aspiring philanthropists for the rest of us.