How Institute-Certified Advisors Attract Wealthier Clients: A Look at the Data

In the highly competitive world of professional wealth management, not all client types are created equal. Client households with net-worth of $5 million, $25 million — or even more — are considered high-net-worth (HNW) and ultra-high-net-worth (UHNW). They also represent a lucrative, asymmetrical opportunity for those advisors who have the skills, training, and education to serve their unique needs.

Trends in household asset ownership are indisputable, with wealth continuing to concentrate at the HNW level. As of 2022, households with a net worth more than $5 million controlled 47% of investible assets in the  United States. This is a huge increase compared to 2010, when these HNW households controlled only 27% of investible assets. Serving HNW clients such as these can be very rewarding, so unsurprisingly, the competition is fierce. Moreover, wealthy individuals are in a position to “pick and choose,” benefitting from an abundance of firms and wealth managers vying for their business. To stay ahead, advisors must continuously advance their professional pedigree, update their knowledge, and innovate around their service offerings.

That is where advanced professional certifications come into play.

Recent research from CEG Insights, conducted in partnership with the Investments & Wealth Institute, demonstrates that advisors who earn Institute certifications — the CIMA® (Certified Investment Management Analyst®), CPWA® (Certified Private Wealth Advisor®), and RMA® (Retirement Management Advisor®) certifications — consistently attract and retain higher-net-worth clients than their non-certified or CFP®-only peers. These findings, and many others, can be found in “Investments & Wealth Institute Certifications: A Key Driver of Financial Advisor Success.”

Client Wealth Tiers: The Data Speaks for Itself

Across the financial advice industry, client wealth levels are a defining factor in an advisor’s potential for AUM growth and income. According to the CEG survey, which included over 1,000 advisors, those advisors who hold one or more Institute certifications serve significantly wealthier clientele than their peers.

When comparing client composition, the contrast is clear:

Notice that over 30% of the clients of advisors with no Institute certifications fall in the “mass affluent” category — clients that, while valuable, tend to have simpler needs and smaller portfolios. The clients of advisors with Institute certifications fall into this category at a lower rate: 21.9% for RMA designees, 22.6% for CIMA designees, and 23.8% for CPWA designees. In contrast, Institute certified advisors’ clients are more heavily represented in the HNW and UHNW tiers. In fact, when combining those two client segments, we see that:

• 48% of RMA certified professionals’ clients are ultra-high-net-worth ($5M+) or greater.

• 45.9% of CIMA certified professionals’ clients are ultra-high-net-worth ($5M+) or greater.

• 44.1% of CPWA certified professionals’ clients are ultra-high-net-worth ($5M+) or greater.

Why the Wealthiest Clients Gravitate Toward Certified Advisors

This isn’t coincidental. Advisors who pursue Institute designations gain rigorous, targeted training that specifically prepares them to serve high- and ultra-high-net-worth individuals.

As CEG states: “…Advisors holding the CIMA or CPWA certification are more likely to manage $1 billion or more in assets—an AUM level that indicates these advisors are highly skilled at attracting and serving [HNW and UHNW] clients. This contrasts sharply with non-certified advisors and CFP-only professionals, who typically operate in the mass affluent market.

One reason for the difference: The advanced training associated with Institute certifications equips advisors to address the complexities of large portfolios and significant wealth, including alternative investments, tax-efficient strategies, and multigenerational wealth transfer.” (Investments & Wealth Institute Certifications: A Key Driver of Financial Advisor Success, page 13.)

Why This Matters for Advisory Firms

From an enterprise perspective, this data suggests a compelling strategic opportunity. Firms that support advisor certification initiatives — especially investing in multiple Institute credentials for their advisor teams — are better positioned to attract and retain HNW clients, increase overall firm AUM, and strengthen their brand in the competitive wealth management marketplace.

“Institute certification provides advisors and teams with advanced technical expertise, unparalleled ethics, and gold-standard credibility in delivering exceptional value to clients,” says Institute CEO, Sean Walters. “By integrating certifications from the Investments & Wealth Institute into career development plans, firms and individual advisors can establish structured pathways for professional growth and build capacity to expertly serve increasingly sophisticated clientele.”

The CEG research also demonstrates that Institute certifications empower teams to offer more sophisticated solutions around wealth transfer, philanthropic planning, and digital asset management — areas of increasing concern to HNW families. For firms, these skills translate into forging deeper client relationships, maintaining higher retention rates, and building a stronger reputation in the competitive marketplace.

The Bottom Line: Institute Certification Attracts Wealth

The path to growing a flourishing advisory practice is not necessarily paved with more and more clients — it can also be constructed by acquiring a special type of client. As wealth continues to concentrate among HNW households, the ability to successfully serve this clientele has become a defining competitive edge. Advisors who hold CIMA, CPWA, or RMA certifications have measurably more HNW clients than those advisors who do not.

This is by design. The training behind Institute certifications equips advisors with deep technical knowledge, advanced planning frameworks, and the credibility necessary to build trust with HNW and UHNW households — the very clients who drive firm profitability, expand referral networks, and anchor long-term AUM growth. For advisors and firms looking to future-proof their business, investing in Institute certifications offers a remarkably good ROI.