AUM per client for Multi-team firms serving clients in Illinois

Assets under management (AUM) per client measures the average amount of assets a firm manages for each client. This metric helps indicate the type of clients a firm is designed to serve—higher AUM per client often means the firm focuses on wealthier clients with more complex financial needs, while lower AUM per client suggests a broader client base with more standardized services.

In Illinois, among multi-team firms, the median AUM per client is about $554,438, slightly below the national median of $653,677 for firms of this size. With 309 firms and nearly 2,900 advisors represented, the distribution shows a wide range—from firms managing closer to $160,000 per client up to those exceeding $4 million. This spread suggests that Illinois multi-team firms serve a diverse clientele, from those offering more accessible, mass-affluent services to those catering to high-net-worth individuals. Some firms may be in earlier growth stages or intentionally focus on a broader client base, while others specialize in serving wealthier households with more tailored planning.

For you, this means there is no single “right” AUM per client number. A higher figure often indicates more personalized, complex service but may come with higher minimum investment requirements. A lower figure might offer easier access but with more standardized offerings. Use this metric alongside others to understand how a firm’s client focus aligns with your financial situation and service expectations.

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