High net worth clients of financial advisors 2021

Most of the individuals served by investment advisors registered at the U.S. Security and Exchange Commission (SEC) during the period from 2017 to 2021 were non-high net worth clients. In 2021, only 14 percent of the individual clients were high-net worth individuals, which is still one percentage point higher than the previous year. The high net worth clients, however, accounts for the largest share of assets from individual clients.

Share of high net worth individuals as clients of investment advisors registered at the U.S. Securities and Exchange Commission (SEC) from 2017 to 2021

Characteristic	Non-high net worth clients	High net worth clients
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Release date

June 2022

More information

Region

Worldwide

Survey time period

2017 to 2021

Supplementary notes

Clients not using asset management services are not classified by client type and, therefore, are not included.
The source adds the following information on non-high net worth individuals: The majority of clients (86.4%) were non-high net worth individuals. Typically these clients hold assets worth less than 1.1 million U.S. dollars with a financial advisor or the clients net worth is below 2.2 million U.S dollars (not including the values of their primary residence). Additionally , 62.6% of the assets managed for clients in this segment were from the 13.6% of individual investor clients who were high net worth individuals."

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