Where should advisors be focusing their efforts? Consider business owners. People like Justin Ross, owner of the baseball bar Justin’s Café. Or Kelli Harrington, proprietor of Zen Spot yoga spas in Oregon.

Personal wealth is concentrated in the hands of American business owners like these -- to such a degree few financial advisors can imagine it.

According to an analysis of the Federal Reserve’s 2013 “Survey of Consumer Finances,” 23.8 percent of business-owning households in America had annual incomes of at least $200,000. Only 5.9 percent of non-business owners did. Raise the threshold to $500,000 and the disparity looms larger: 9.2 percent for business-owning households while only 1.6 percent of non-business owners took home that much.

Despite the fact that there are 10 times as many non-owners in America, business owners accounted for one out of every three families with at least $200,000 in annual income. For those with $500,000 in income, the number exceeds two out of every five.

Another sobering statistic is that 38.8 percent of business-owning households had total personal assets of at least $1 million. Only 11.3 percent of non-business owners had that much. Almost three out of 10 millionaire American families are business owners.

Go to an upscale neighborhood and chances are good the biggest home on the block with the biggest big screen TV is occupied by a shopkeeper, a factory owner or a service vendor (and family).

In addition to being wealthier on average than nurses, truck drivers and other workers, business owners tend to have a greater appetite for risk with their money and are more certain of positive outcomes.

“Business owners by their very nature are extremely optimistic,” said Cleveland-based Ameriprise advisor Eric Tolbert, who sits on the board of the National Small Business Association. “They always think tomorrow will be better where the general public doesn’t. They believe they can make 20 percent, 30 percent, 40 percent if they put their profits back into their companies.”

Still, business owners need sound advice and face different challenges than other people. Tolbert said it can be especially tough to talk a business owner into protecting his or her family’s finances by diversifying savings out of a single asset.

“That’s a conversation I would never have with a policeman. That’s a conversation I would never have with a teacher,” he said.

It’s especially hard for them to consider selling their businesses, he said. He recalled one client who carried on with an auto shop his father started half a century ago.

CVS offered him $800,000 eight years ago for the property, which he declined as way too little despite pleas from Tolbert and his accountant that the offer was fair.

CFP Board Ambassador Steve Podnos said business owners who have come to him from advisors complained that past professionals took a “one-size-fits-all approach” to financial planning and didn’t recognize the different needs entrepreneurs have.

To develop the expertise required to serve them, Podnos said he regularly takes online seminars in succession planning and other issues specific to business owners’ interests.

CFP outlets offer nearly 100 in-person and 50 web training sessions on small business.

While Podnos said he wants to be able to provide clients with savvy for their business and personal financial needs, he acknowledges that some business owners want to farm out their business advice needs to others.

Ross, the 31-year-old owner of Justin’s Café and the Big Stick near the Washington Nationals baseball stadium in Washington, D.C., is one of them.

Ross said he wants his bank to help him with a financial plan and loans while he relies on his financial advisor to teach him how to make a success of his business.

“I contact my advisor to help get my money working for me. I don’t want it just sitting in a bank account,” he said.

At the same time, he said people like Bernie Madoff have made him wary of relying too much on one person to direct his financial path.

While he trusts his advisor now, he said he has healthy doubt.

“I don’t know her that well. She could be stealing from me.”

But Ross must also be more willing to take on risk than other millennials or his family members because he’s an entrepreneur and people like him must borrow money to keep their businesses running.

Kelli Harrington, who owns the Zen Spot yoga spas in Eugene and Portland, Ore., with her husband, said the desire to take on risk in her business influences her investment decisions as well.

She and her husband not only own individual stocks, but they look at risky ones.

“Life is risk. One of our codes is living fearless,” said Harrington.