Let’s talk about a very exclusive target market—the Ultra-High-Net-Worth Client (UHNW).
For Financial Advisors, landing UHNW clients represents a transformative opportunity. Their substantial assets bring the potential for significant AUM growth, but they also require specialized services such as tax-efficient investing, legacy planning, and alternative investment opportunities. Winning their business—and keeping it—requires an approach that blends exclusivity, insight, and long-term relationship management.
Let’s explore who makes up this target demographic, as well as actionable steps you can take to find, convert, and retain ultra-high-net-worth individuals.
Related: How to Build Your Client Base as a Financial Advisor
What Is Considered Ultra-High-Net-Worth?
Defined as those with at least $30 million in investable assets, UHNW clients make up a fraction of the population but control a significant portion of global wealth. In 2023, there were approximately 225,077 UHNWIs in the U.S., the highest concentration in the world.
These individuals include entrepreneurs, executives, investors, heirs to multigenerational wealth, and celebrities, each with financial needs far more complex than the average high-net-worth (HNW) client.
At this level, wealth management isn’t just about performance—it’s about trust, privacy, and personalized service. UHNW clients expect their Financial Advisor to function as a trusted family CFO, capable of handling more than just investments. They often prioritize:
- Multigenerational Planning: Many UHNW clients are deeply invested in long-term strategies. This means integrating estate planning, trust services, and philanthropic strategies into their financial plan.
- Tax Efficiency & Generational Transfers: Advanced tax strategies, such as charitable remainder trusts, family limited partnerships, and dynasty trusts, are essential for minimizing tax burdens and preserving wealth across generations.
- Exclusive Investment Opportunities: UHNW often clients seek alternative investments beyond traditional stocks and bonds. Private equity, venture capital, direct real estate investments, and hedge funds are just a few of the vehicles they expect may access to.
- A High-Touch, Concierge-Level Experience: UHNW clients aren’t calling a 1-800 number. They expect proactive communication, personal attention, and a team of specialists managing their financial affairs. Privacy and discretion are paramount, meaning their Advisor must be someone they trust implicitly.
Understanding this demographic is key to developing an approach that resonates with UHNW clients and differentiates you from the crowd.
1. How to Find Ultra-High-Net-Worth Clients
Unlike mass affluent clients, the typical ultra-high-net-worth client isn’t seeking an Advisor through Google searches or cold calls. Instead, they rely on trusted referrals, elite networks, and private events. Here’s how to position yourself for success:
Meet the Next Generation of Wealth Holders
UHNW clients aren’t just retirees or business owners—they also include younger, tech-savvy inheritors of wealth who engage with Financial Advisors differently.
- Older UHNW clients may be more inclined to attend private wealth education events or seminars. Hosting exclusive roundtables on estate planning or philanthropic giving can position you as a thought leader.
- Next-generation UHNW clients, many of whom are inheriting wealth, engage through digital content, podcasts, and social media. They are often drawn to Advisors who provide insights via LinkedIn, exclusive online content, or high-level investment discussions.
While many Advisors focus solely on the former demographic, ignoring the next generation is a costly mistake. According to research, up to 90% of heirs fire their parents’ Financial Advisor after inheriting wealth. The sooner you establish relationships with them, the better your chances of retaining their assets.
Offer the Services They Actually Want
UHNW clients expect Advisors to go beyond traditional financial planning. To stand out, offer:
- Family office-style services, even if you’re not part of a formal family office
- Access to exclusive investment opportunities, such as private equity and direct real estate deals
- Comprehensive tax and estate planning, integrating wealth preservation strategies with trusted professionals
By showcasing your ability to curate bespoke financial solutions, you position yourself as a go-to resource rather than just another investment manager.
2. How to Convert the Ultra-High-Net-Worth Client
Securing an initial meeting with a UHNW prospect is a victory—but converting them into a client requires strategic nurturing and trust-building. These individuals do extensive due diligence before making financial decisions. Here’s how to move the relationship forward: priorities, making it more likely they’ll see the value in working with you.
Position Yourself as a Specialist, Not Just an Advisor
An ultra-high-net-worth client doesn’t want a generalist—they want a specialized professional in areas like generational wealth transfers, philanthropy, and tax efficiency. Instead of presenting yourself as a one-size-fits-all Advisor, highlight your niche and how it directly benefits their unique financial situation.
Bonus tip: Consider developing white papers, webinars, or private reports tailored to the complex needs of UHNW individuals. By positioning yourself as a specialist in their most pressing concerns, you elevate your perceived value and credibility.
Be the Gateway to Exclusive Opportunities
Wealthy individuals often value access—whether it’s private investment deals, closed-door networking events, or exclusive tax strategies. Position yourself as the facilitator to investment opportunities they wouldn’t otherwise find.
UHNW clients don’t just want financial advice—they want a Financial Advisor who opens doors.
Host Private Events for Wealth Education
Hosting invite-only educational events is a highly effective way to establish credibility and engage UHNW prospects. These events can be tailored for philanthropy, estate planning, or other high-interest topics.
By curating high-value content and exclusive networking opportunities, you reinforce your role as a trusted resource rather than just another Advisor.
3. How to Retain UHNW Clients for the Long Term
Winning an ultra-high-net-worth client’s business is just the beginning—retention is just as, if not more, important.
Engage Their Family Early
Sixty-two percent of high-net-worth Advisors say the most effective retention method is involving the client’s children in financial planning. Losing just one generation of a wealthy family can mean losing tens or even hundreds of millions in AUM.
Offering financial literacy programs, estate planning discussions, and family wealth retreats helps heirs see you as an essential part of their financial future.
Provide a Seamless, High-Touch Experience
An ultra-high-net-worth client expects white-glove service. This means:
- Rapid response times and proactive communication
- A team approach, collaborating with tax and legal professionals
- A variety of investment opportunities, alongside relevant and insightful financial information.
Stay Ahead of Industry Trends
UHNW clients want Advisors who anticipate changes in tax law, investment trends, and economic shifts. Proactively updating them on new opportunities can help to reinforce your value.
Find, Convert, and Retain UHNW Clients With RFG Advisory
Attracting and retaining Ultra-High-Net-Worth clients isn’t just about managing money—it’s about providing tailored solutions, exclusive access, and a level of service that meets their distinct expectations. These individuals aren’t looking for another investment manager; they’re seeking a trusted partner who understands the complexities of their wealth and the legacy they want to build.
If you’re looking to take your practice to the next level and attract UHNW clients, RFG Advisory provides the platform, tools, and support to help you grow your business with confidence. From advanced investment solutions to high-impact marketing and operational support, we help Advisors like you build something bigger.
Ready to elevate your business? Let’s talk.