Ultra-high net worth asset management list 2026

America’s wealthiest households have different financial needs than the average investor, so they seek financial advisors who specialize in managing this wealth class.

The inaugural CNBC Elite Advisor List features 25 of the nation’s top investment advisors serving ultra-high net worth individuals and family offices, chosen for their expertise in advising clients with investable assets of $25 million or more.

Financial experts who specialize in the ultra-high-net-worth market say these advisors provide investment management services that include private asset, illiquid or concentrated asset holdings, but the bulk of their work resides outside of client portfolios.

Experts say the real hallmark of advisors serving the ultra-high net worth is their expertise in managing complex financial situations and relationship dynamics, often spanning multiple generations of a family. This may include tax, estate, trust, and risk planning. Family governance, business advisory and philanthropic services. We also offer a wide range of lifestyle services such as private jet leasing and concierge services.

“It’s a different job” than a traditional financial advisor, said Vlad Golik, a partner at McKinsey & Company and head of the consulting firm’s North American wealth management practice.

This year, we created CNBC Elite Advisors to recognize the top wealth management firms operating in this space. CNBC does not accept payment for publication fees.

Our team used data analysis and editorial review to create the CNBC Elite Advisors list. For more details on the methodology, please see below.

In 2026, CNBC Elite Advisors will be headquartered in 15 states and manage a total of $2.1 trillion in assets. The average age of companies is 31 years, with the oldest companies founded in 1923 and the youngest in 2023, a difference of 100 years.

What defines an ultra-wealthy household is not an exact science.

Financial experts who specialize in the ultra-high-net-worth market say these households typically have investable assets totaling about $20 million to more than $30 million.

Investable assets include holdings such as stocks, bonds, mutual funds, exchange-traded funds, private equity, and hedge funds.

Those assets don’t include major residences, cars or privately held family businesses, which can account for half of an extremely wealthy household’s total net worth, said Chase Horton, associate director of Cerulli Associates’ wealth management practice. Cerulli helped create CNBC’s Elite Advisors list.

Therefore, a total net worth of about $50 million may be another definition of an ultra-high-net-worth client, he said.

Households with financial assets of $20 million or more account for a growing share of U.S. wealth.

According to the latest data from Cerulli Associates, there will be approximately 442,000 ultra-high-net-worth households in 2024, accounting for 0.3% of the U.S. population in that year.

They collectively hold $22.5 trillion in investable assets, accounting for nearly 25% of all U.S. households’ investable assets, Cerulli said. This is a significant increase from the 10% share in 2010.

Cerulli said about 37% of ultra-high-net-worth clients are entrepreneurs or business owners. It turns out that inheritors of wealth account for 24%, and business executives account for a further 13%.

Financial Advisor for Very Wealthy Clients serves the most affluent households in the United States.

Experts say services for ultra-high-net-worth individuals differ from those offered by advisors serving average or moderately wealthy clients.

Investment management is often not the main consideration. In general, the extremely wealthy need an advisor who can oversee complex financial issues and generational wealth, Cerulli’s Horton said. Services typically include tax, estate, and trust planning. Business advisory and philanthropic services. and family governance.

“What’s different about the ultra-high-net-worth space is that these advisors don’t say no to their clients when they ask a question,” Horton said.

Advisors don’t necessarily provide all of this expertise in-house.

“Customers in this space are looking for best-in-class, and not every type of company can deliver best-in-class with every strategy,” Horton said. “But they know very well who to go to for these things.”

Experts say there is a lot of overlap in the field, including ultra-high-net-worth wealth managers, private wealth advisors and family offices. However, there are some subtle differences.

For example, experts say large private banks typically provide most, if not all, services for ultra-high-net-worth clients themselves rather than partnering with third parties.

There are many different types of family offices, such as multifamily offices and single-family offices.

The former is built to work with multiple wealthy families, with each advisor serving perhaps five to 10 families, said Matt Zampariolo, wealth management research analyst at Cerulli. The latter only serves one family.

Experts say different types of companies may set different asset minimums for their customers.

For example, a private bank or multifamily office might have a threshold in the $25 million to $100 million range, while a single-family office might require a minimum of $150 million to $200 million, McKinsey’s Golik said.

The vast majority (about 95%) of financial advisors serving high-net-worth and ultra-high-net-worth clients charge fees based on assets under management, according to Cerulli data.

This is an annual fee that advisors charge clients as a percentage of assets under management (AUM). According to Cerulli, the average fee for ultra-high-net-worth clients will be 0.54% in 2025, up from 0.45% in 2021.

For example, a 0.54% asset-based fee on a $20 million portfolio would be $108,000.

Zampariolo said other advisors may charge a flat fee (likely six figures for ultra-high-net-worth clients) rather than a percentage of assets.

However, these are just base rates, he said.

Zampariolo said these advisors often charge additional fees on top of their AUM or flat fee for “a la carte pricing” for various services. He said tax planning is the service most likely to incur a separate fee.

CNBC uses data analysis and editorial reviews to create the CNBC Elite Advisors list.

Participating companies were evaluated through a comprehensive assessment that measures both size and quality across several key areas, including organizational scalability, assets under management with ultra-high-net-worth clients, breadth and sophistication of client service and investment strategies, strong credibility through professional certifications and industry recognition, and overall reputation, including client retention and tenure.

To help develop the methodology and evaluate participating companies, CNBC surveyed more than 100 eligible companies and consulted with AccuPoint Solutions, an asset management data and research firm specializing in advisor intelligence and industry analysis, and Cerulli Associates, a research and consulting organization focused on the asset and asset management industry.

CNBC does not receive compensation for listing financial advisory firms on the Elite Advisors list. Additionally, the inclusion of a company or advisor on our list does not imply individual endorsement of the company or advisor by CNBC.