The trend: Sixty-two percent of the very wealthiest consumers expect to thrive next year, according to a WSJ Intelligence study, a larger share than the other two classes of affluent investors that were covered.

The divide: The study classifies individuals into three groups:

• Ultra-high-net-worth (UHNW): More than $10 million in assets
• High-net-worth (HNW): Between $1 million and $10 million in assets
• Emerging affluent: Less than $1 million in assets with high wealth potential

The wealthiest consumers brush off economic and geopolitical worries: They’re diversified into private equity and hedge funds, and a large majority report exposure to derivatives and cryptocurrencies. Nearly all leave advisors to handle their finances.

The emerging affluent are building wealth but are cautious. A minority expect to be financially better off in the next year. They’re concerned with stability, perceive inflation and their cost of living as top risks, and are sensitive to investment fees.

The opportunities: Both UHNW individuals and the emerging affluent present opportunities for financial institutions.

Winning the emerging affluent segment requires an elevated retail banking experience: Offering intuitive digital services, including self-directed and automated investing and access to a broad array of financial services. As these consumers grow their wealth, banks can offer more bespoke advisory services and complex products. For the near term, the business opportunity should focus on cross-selling based on consumer life stage.

Servicing for the high end is almost entirely different: For those consumers, appropriate services fall under the private bank and concierge services. Customer engagement changes from a sophisticated retail experience and relationship with the bank overall to one that’s centered around a trusted human advisor.

Our take: UHNW investors see volatility as a chance to expand and protect their wealth through diversification, alternative assets, and bespoke advice. The emerging affluent, by contrast, prize affordability, digital convenience, and transparency. Banks and wealth managers that offer frictionless digital access on one end of the spectrum and high-touch expertise on the other will bridge this divide