AUM per client for Team firms serving clients in Michigan

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 serves—higher AUM per client often means the firm works with wealthier individuals requiring more complex, personalized planning, while lower AUM per client suggests a broader client base with more standardized services.

In Michigan, among team firms—those with 5 to 30 advisors or managing over $500 million—the median AUM per client is about $820,000. This is somewhat below the typical national median for similar firms, which often falls above $1 million. The distribution in Michigan ranges from roughly $130,000 to over $3.3 million per client, showing a wide spectrum of client profiles. This suggests that many Michigan team firms focus on affluent clients with solid, scalable planning services, while some cater to higher-net-worth individuals with more bespoke offerings. The variation also reflects two common interpretations: some firms may be early in scaling their client base, while others intentionally maintain lower minimums to serve a broader market.

For you, this means AUM per client is a helpful indicator of the firm’s target client segment and service style, but it’s not a measure of quality. Higher AUM per client often corresponds to more tailored, complex advice with higher minimums, whereas lower AUM per client typically means more accessible, standardized service. Use this metric alongside others to find a firm that matches your financial situation and preferences.

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