AUM per client for Independent firms serving clients in Michigan

Assets under management (AUM) per client measures the average amount of assets a financial advisor manages for each client. This metric helps reveal the type of clients a firm serves—higher AUM per client often indicates a focus on wealthier clients with more complex financial needs, while lower AUM per client suggests broader access and more standardized services.

In Michigan, independent advisory firms show a median AUM per client of about $368,000, which is below the broader national median of $511,000 for similar firms. Among the 340 independent firms in the state, AUM per client ranges widely—from just over $112,000 at the lower quartile up to nearly $2.1 million at the upper end. This spread reflects the diversity of independent advisors here: some may be newer or intentionally serving clients with more modest portfolios, while others focus on high-net-worth individuals or families with more specialized needs. The variation suggests that Michigan’s independent advisors cover a broad spectrum of client types and service models.

For you, understanding AUM per client can clarify what kind of advisory experience to expect. A higher AUM per client usually means the advisor works with fewer clients but offers more personalized, complex planning, often with higher minimum investment requirements. Conversely, a lower AUM per client often means more accessible services with a standardized approach. There’s no single “right” number—it’s about finding the fit that matches your financial situation and service preferences. Use this metric alongside others to get a fuller picture of an advisor’s approach.

Or, if you'd rather skip the guesswork, Warmer can help you find a financial advisor who fits your needs.