US households control more than US$102 trillion in financial assets as of year-end 2025, a 12% increase compared with 2024; and, while ultra-high-net-worth households are the most likely to reap the benefits of this continued growth, middle market and mass affluent households are becoming increasingly important for providers and advisers as their wealth grows, according to a recent report.

While their share of financial assets has fallen from 43% in 2013 to 24% in 2025, middle-market and mass-affluent households with between US$100,000 and US$2 million in financial assets have seen their wealth grow from US$14 trillion to US$25 trillion in that same period, finds The Cerulli Report – US Retail Investor Solutions 2026.

Typically younger and less advised, this US$25 trillion market, comprising 46.9 million households, seeks involved adviser relationships, the report notes, which will benefit providers that can best offer streamlined advisory services at scale.

Acting earlier matters

Opportunities for providers to engage new clients drop sharply as these prospects age from 44% among the affluent under 30 to just 24% among those in their 50s.

Moreover, 32% of affluent respondents report that they prefer to use the same provider for their investing and banking needs and have chosen to do so already, with the highest incidence among “collaborative prospects” ( 61% ), who tend to be earlier in their financial lifecycles.

“Traditionally, wealth management firms have preferred to begin client relationships only after prospects have reached addressable asset minimums ranging from US$250,000 to more than US$1 million,” says Scott Smith, Cerulli’s senior director. “Though this strategy has proven effective, it faces increased pressure as competitors seek additional options to connect with prospects earlier in the financial lifecycle.

“Future prospects are likely to have several financial services provider relationships, including banking, retirement plans, insurance, mortgages and tax preparation, before meeting wealth management minimum asset-under-management benchmarks.

“To optimize long-term client acquisition, providers will need to engage with prospects earlier or find more effective strategies to displace incumbents. As mass affluent households continue to accumulate wealth, providers must define for clients and prospects what a premium experience entails as a starting point, rather than hoping a minimum viable offer will be perceived as offering differentiated value.”