An advisor with 300 clients is running a very different business than one with 10. The first has seen it all and has a team behind them. The second will pick up the phone when you call. Both can be great—it depends on what you care about.
How to spot the difference
Every advisor reports how many clients they have and how much money they manage in their SEC filings. You don't need to dig through paperwork—we show these numbers on every advisor's profile.
Roughly speaking: an advisor managing $100M+ with 100+ clients is well-established. One managing under $50M with a few dozen clients is still building. Most fall somewhere in between.
The trade-off
Established advisors have seen more market crashes, more tax situations, more estate plans gone wrong. They've built systems and hired staff. But you might end up talking to that staff more than the advisor themselves, and their fees aren't negotiable.
Growing advisors are hungry. You're a meaningful part of their business, so they're motivated to keep you happy. You get the actual advisor, not a junior associate. And they're often willing to work with you on fees. The downside is less experience and a thinner support team.
| Established | Growing | |
|---|---|---|
| Clients | 100–300+ | 10–50 |
| Assets managed | $100M+ | Under $50M |
| Who you talk to | Team, scheduled meetings | The advisor, directly |
| Fee flexibility | Take it or leave it | Often negotiable |
So which do you want?
If your finances are complicated—multiple income sources, a business, stock options, estate planning—an established advisor has probably handled your exact situation before.
If your situation is more straightforward and you just want someone paying close attention, a growing advisor will probably give you a better experience for less money.
Data source: Client counts and assets managed come from Form ADV filings submitted to the SEC.