Many mass-affluent individuals don't trust their bank to handle their investments, according to a survey by HNW Inc., a marketing and technology firm for the financial services industry.

The vast majority of the mass affluent, those with between $100,000 and $3 million in liquid assets, haven't even considered their primary bank as an option to manage their investments, according to HNW's survey.

However, most would consider it if they thought the bank had their primary interests at heart, says the survey. Bankers are missing a vast opportunity by not making an effort to attract this middle market, says Stacey Haefele, CEO of HNW.

"Caught between two worlds -- the middle class and the wealthy -- the mass affluent are looking for solutions and advice but failing to find it from advisors within the retail banking space," Haefele says.

According to the report, 76 percent of respondents do not use their primary bank for investment or brokerage accounts and the vast majority (78 percent) have never considered their primary bank as an option for these services. In fact, 30 percent say they do not trust using an investment advisor at their primary bank. The survey included 422 individuals.

However, 53 percent say they would consider using their bank for investment services if they had assurance that the bank would provide better investment returns than other options. An additional 46 percent say they would consider using the bank if it provided the same products and services as an outside advisor at a lower cost.

"Banks must do a better job of communicating directly to the mass affluent about the depth and breadth of their services and the expertise of their advisors if they want to compete with wirehouse and independent advisors," says Leslie Paladin, senior vice president and managing director of retail banking for HNW.

The survey showed respondents from all asset levels keep only a fraction of their assets in their primary bank. Nearly half (48 percent) believe their primary bank is just interested in sales and not in their best interests.

At the same time, 24 percent of respondents who have an investment or brokerage account with their primary bank are strongly satisfied with their investment advisors, including the advisor's knowledge, courteousness, professionalism, responsiveness and ability to act in the client's best interest.

-Karen DeMasters