The wealth management market is highly skewed, according to a new survey, with investments in superannuation and managed funds, and access to financial planning, concentrated in a minority of the population.According to a Roy Morgan Research report published yesterday, Superannuation and Wealth Management in Australia, people with small balances don't use the services of financial planners.This is despite the fact that big banks, which make up four of the top six wealth management groups, entered the wealth management market a decade ago because they saw an opportunity to use their big distribution networks to reach a wider market."There is a serious gap in the market among Australians with lower balances," the report said.Roy Morgan found that 69.4 per cent of wealth management assets (superannuation and managed fund accounts) were held by 20 per cent of all people with wealth management assets. The bottom 60 per cent hold only 12 per cent of the assets.The top 40 per cent make up the bulk of the financial planning industry client base.This lack of access to advice by the majority of people with superannuation or managed fund accounts leads to some strange behaviour.The level of satisfaction among superannuation members is low, with only 52.6 per cent either fairly or very satisfied with the financial performance of their superannuation fund. With the introduction of fund choice in 2006 it was expected that a large number of people would change their fund.But the switching rate is less than three per cent a year and is usually associated with changing jobs. Eighty-five per cent of super fund members report that their employer chose the fund they are in.According to the report, a barrier to more people using financial planners is uncertainty about their independence. Financial planners linked to the big wealth management groups (the big four banks plus AMP and Axa) show a preference for their own group's products. Over the past four years planners from those groups have consistently allocated over 70 per cent of their sales to their own group's products.According to Roy Morgan, the breakdown of the estimated A$5.9 trillion of household wealth is 51.9 per cent in owner occupied homes, 24.8 per cent in wealth management products (superannuation and managed funds), 16 per cent in direct investments, 7.2 per cent in deposits and 3.3 per cent in pension and annuity products.