08.28.25

Advisors Adding Services To Compete for Wealthy and Ultra-Wealthy

by: Jennifer Lea Reed

Cerulli Associates reports that over 50,000 U.S. advisors and 20,000 firms serve high-net-worth (HNW) and ultra-high-net-worth clients, a highly competitive segment with advisors averaging $368 million in assets under management. Firms now offer an average of 12 services, up from 10 in 2017, including asset allocation, financial planning, cash management, private banking, trust and estate services and access to alternative investments — the top differentiator. Advisors increasingly provide family-office-style services such as philanthropic planning, tax compliance and concierge support. With HNW households projected to control over $30 trillion by 2028, delivering personalized, comprehensive and digitally-enabled services is essential for attracting and retaining affluent clients.

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