Advisors have long hunted the $13 trillion in total investable assets held in high-net-worth households. In fact, 13% of advisory firms now focus on the wealthiest clients that account for less than 1% of the U.S. population, according to new research from Cerulli Associates.

As the competition for HNW investors tightens, advisors may want to focus on up-and-coming clients — young doctors, entrepreneurs and mid-level corporate executives — who are likely to become the next generation of wealthy investors, the study suggests.

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