Based on a survey completed in Spring 2009, FRC provides a rich and intimate view of Mass Affluent retail investors, their asset and account changes over an extremely difficult investment period, and the rationale behind those changes.  The study also closely examines the demographic characteristics of these investors, their preferences regarding investment providers and investment services, and factors that influenced their investment decisions.  The findings in this study offer insightful guidance to investment firms who wish to attract assets from the Mass Affluent.