Qualified Client
A client eligible to pay performance-based fees because their assets managed by the adviser, or their net worth, exceed thresholds the SEC sets and periodically adjusts for inflation.
Nashional Investments · Updated October 2026
Educational definition only, not investment, tax or legal advice.
In practice
Private investments trade daily liquidity for access to strategies that public markets do not offer, and most are limited to accredited investors. The term Qualified Client is one of the concepts we explain when reviewing a private credit, private equity or interval fund, along with fees, lockups and how much of a portfolio belongs in investments you cannot easily sell.
Common questions.
What does the term Qualified Client mean?
Why does Qualified Client matter for investors?
See how this fits into a real plan on our Private markets page.
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