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

Assets under management (AUM) per client measures the average amount of assets a firm manages divided by its number of clients. 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 broader accessibility and more standardized services.

In Tennessee, multi-team firms—those with 30 to 300 advisors or managing over $3 billion in assets—show a median AUM per client of about $605,000. This is somewhat below the typical national median for similar firms, which often falls in the seven-figure range. The distribution in Tennessee ranges from around $168,000 at the lower end to about $2.5 million at the higher end, indicating a mix of firms serving both mass-affluent clients and those focused on high-net-worth individuals. This spread suggests that some firms may be in earlier growth stages or intentionally targeting a wider client base with lower minimums, while others cater to wealthier clients with more specialized offerings.

For you, understanding AUM per client can help clarify the kind of service and minimum investment levels to expect. There’s no single “right” number—firms with higher AUM per client typically provide more personalized, complex planning, while those with lower numbers may offer more accessible, standardized solutions. Use this metric alongside others to find an advisor whose approach aligns with your financial situation and goals.

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