How to Find a Financial Advisor as a High-Net-Worth Individual

A high-net-worth financial advisor specializes in serving individuals with substantial assets, typically offering personalized wealth management, including advanced planning strategies and more types of investments. These advisors may provide services such as tax optimization, estate planning, philanthropic structuring and access to alternative assets. Unlike general financial advisors who serve a broad array of investors, they often focus on clients with portfolios exceeding $1 million and are familiar with the complexities that come with significant wealth.

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How to Find a Financial Advisor for High-Net-Worth Individuals

High-net-worth individuals (HNWIs) can identify specialized financial advisors through several targeted approaches. Below are common methods to begin the search.

Private Wealth Management Divisions

Large financial institutions like Merrill Lynch, Morgan Stanley and UBS have divisions dedicated to private wealth management. Advisors in these departments typically work with clients who have at least $1 million in investable assets. They offer services such as custom portfolio construction, trust planning and access to alternative investments.

Online Databases and Credentialing Tools

Several professional organizations offer searchable directories that help identify qualified advisors. The Certified Financial Planner Board of Standards (CFP Board) provides the “Find a CFP® Professional” tool, allowing users to filter by location, specialties and compensation models. The National Association of Personal Financial Advisors (NAPFA), a group of fee-only fiduciary advisors, maintains a database of its members that can be searched by area of expertise and asset minimums.

SmartAsset

SmartAsset offers a personalized advisor matching service that connects users with fiduciary financial advisors based on factors such as location and asset levels. Users complete a brief questionnaire, which is provided to advisor matches to help them understand the user’s financial goals.

Referrals from Other Professionals

Attorneys, certified public accountants (CPAs) and business peers are often trusted sources for referrals. Advisors recommended through these channels are typically already accustomed to working with complex balance sheets, business succession plans and multi-generational wealth transfers.

Who Qualifies as a High-Net-Worth Individual?

Financial advisors discussing a high-net-worth strategy for clients.

The term “high-net-worth individual” generally refers to someone with significant investable assets, but definitions can vary depending on context. Financial institutions and advisors use this classification to determine service tiers and eligibility for certain investment opportunities. This designation is based on specific wealth thresholds to demonstrate financial sophistication and a higher tolerance for investment risk.

Common thresholds used to define a high-net-worth individual include:

Approximately $1 million or more in liquid net worth, excluding primary residence
$5 million or more in investable assets may be required for access to some private banking or family office services
$30 million or more typically defines an ultra-high-net-worth individual (UHNWI)

The U.S. Securities and Exchange Commission (SEC) uses the term “qualified client” to identify individuals who are eligible for performance-based fee arrangements. These thresholds are occasionally adjusted to account for inflation. Current SEC thresholds are $2.2 million or more in net assets under management with the advisor or $1.1 million or more in net worth, excluding primary residence.

What to Look for in a High-Net-Worth Advisor

High-net-worth advisors often provide services that go beyond standard financial planning, so it’s useful to evaluate their experience with complex financial situations. Look for advisors who regularly work with clients who have similar asset levels and who offer services like estate planning, tax-efficient investing, charitable giving strategies and private market access.

Certifications and registrations can also signal an advisor’s qualifications. Many high-net-worth advisors hold designations such as Certified Financial Planner™ (CFP®), Chartered Financial Analyst (CFA) or Certified Private Wealth Advisor (CPWA). These credentials indicate advanced knowledge in areas like portfolio management, tax strategies and intergenerational wealth transfer.

Lastly, evaluate the advisor’s access to resources. Many high-net-worth advisors work with a team of tax professionals, attorneys and investment analysts. This can help coordinate efforts across multiple areas of a client’s financial life, especially when managing trusts, business ownership or family wealth across generations.

Interviewing and Evaluating Advisors

Once a list of potential advisors is created, it’s useful to interview a few candidates to evaluate their approach, communication style, and service model. Many advisors offer a free initial consultation or discovery meeting.

Topics to cover include:

What services are included under their wealth management model
How they’re compensated (fee-only, commission-based or hybrid)
Who else is on the advisory team, and whether they coordinate with tax or legal professionals
How investment recommendations are made and monitored
What their typical client profile looks like

High-net-worth clients often prefer working with advisors who understand the value of discretion and have experience dealing with family dynamics, philanthropic goals and succession planning.

Bottom Line

Closeup of a financial advisor creating a wealth management plan for a high-net-worth client.

Working with a financial advisor who specializes in wealth management could help position large portfolios strategically for investors. Whether an advisor works at a private bank, independent firm or digital platform, the key is finding someone whose experience and approach align with the size and complexity of the assets involved. Professional referrals, credentialing tools and advisor databases all offer ways to identify candidates who may be well-suited to help manage and grow significant financial resources.

Financial Advisor Tips

Finding a financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
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