Well the butterfly has been flapping since 11 September 2001 and while some of us heard the rustling portent, business around the world seems to have missed it.

In particular, the financial services sector has ignored the obvious signs, deaf to the quiet flapping of wings.

The world is a changed place. Over the past 10 years—accelerated by September 11—the economies of developed countries have speed-evolved as a new breed of individuals redefined both society and consumer behaviour.

Using data drawn from a landmark international partnership with Roy Morgan Research we have identified the group in society that delivers high-margin and high-yield. This new breed known as Neo-Consumers, or simply NEOs, constitute 24 percent of the populations of Australia and New Zealand but represent more than half the discretionary spending that determines the health of the economy.

NEOs, individuals who control their own lives and experiences, have a voracious appetite for high-margin discretionary spending and options that add to their quality of life. Higher margin from fresh revenue is replacing cost cutting as the financial Holy Grail as business recognizes that the secret to unlocking value depends on consumer yield—and not on income or footings.

NEOs read more, know more, expect more, spend more AND will pay more to an advisor that understands them.

Welcome to the new world of financial services. We are in a Neo-modern world and it’s a very different place. It’s a place where we hear the sound of butterfly wings flapping. Or do we?

Ross Honeywill, a director of the Centre for Customer Strategy, is co-author of I-Cons: The Essential Guide to Winning and Keeping High-Value Customers, published by Random House. Their new book NEO: The Next Consumer Revolution is planned for release in the US in late 2005.