Understanding Ultra-High Net Worth Wealth Management

The Landscape of Wealth Management for the Ultra-Rich

The wealthiest households in the nation have unique financial needs and often require specialized financial advisors who understand how to manage high levels of wealth. The CNBC Elite Advisors list recognizes top-notch wealth management professionals who guide ultra-high net worth clients and family offices with investable assets of $25 million and above.

Defining Ultra-High Net Worth

The term ultra-high net worth is not strictly defined and can vary. Generally, households with investable assets ranging from $20 million to $30 million are considered ultra-high net worth. These assets include stocks, bonds, mutual funds, and hedge funds.

The Growing Population of Ultra-Wealthy Households

Data from Cerulli Associates reveals that the number of ultra-high net worth households in the U.S. is increasing. In 2024, there were approximately 442,000 households that fell into this category, holding nearly 25% of the nation’s total investable assets.

The Role of Financial Advisors in Ultra-High Net Worth Management

Ultra-high net worth financial advisors are tasked with managing more than just assets. They must navigate intricate financial situations and familial dynamics, often across multiple generations. This can include tax, estate, and trust planning, business advisory and philanthropy services, and lifestyle offerings like private jet leasing and concierge services.

Types of Advisors for the Ultra-Wealthy

The field of ultra-high net worth wealth management includes wealth managers, private wealth advisors, and family offices. Each type of advisor offers slightly different services, with large private banks often providing most services in-house. Family offices, on the other hand, can be single-family or multifamily, depending on the number of families they cater to.

Fees Charged by Advisors

Most advisors for high net worth and ultra-high net worth clients charge fees based on assets under management (AUM). On average, the annual fee for ultra-high net worth clients was 0.54% in 2025. There may also be additional fees for certain services like tax planning.

Methodology: How CNBC Selects Elite Advisors

CNBC uses a combination of data analysis and editorial review to compile the CNBC Elite Advisors list. The process involves assessing firms on several factors such as assets under management, services and investment strategies, credibility, and client retention.

Note: CNBC does not receive any compensation for featuring firms or advisors on the Elite Advisors list, and inclusion on the list does not constitute an endorsement by CNBC.

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