HNW client percentage for Enterprise firms serving clients in Illinois

High-net-worth (HNW) client percentage measures the share of a firm’s clients who meet the SEC’s high-net-worth threshold, indicating the firm’s primary client focus. For enterprise firms—those with 300 to 3,000 advisors or over $30 billion in assets—this metric reveals whether the firm leans more toward serving ultra-wealthy clients with complex needs or a broader, more affluent client base.

In Illinois, 93 enterprise firms collectively show a median HNW client percentage of 21.5%, slightly above the national median of 20.44%. The distribution ranges widely, with some firms serving almost exclusively HNW clients and others maintaining a more mixed clientele. This spread suggests that Illinois enterprise firms offer a variety of service models: some may be early-stage or intentionally designed to serve a broader market, while others focus heavily on high-net-worth individuals requiring specialized planning. The presence of firms near the higher end of the range indicates a strong capacity for complex wealth management, while those near the lower end likely emphasize accessibility and standardized services.

For you, understanding where a firm falls on this spectrum helps clarify the kind of relationship and service level to expect. A higher HNW percentage often means higher account minimums and more personalized, intricate planning, whereas a lower percentage usually signals broader access and more standardized offerings. There’s no single “right” percentage—it depends on your financial situation and preferences. Use this metric alongside others to find a firm that aligns with your needs.

Or, if you'd rather skip the guesswork, Warmer can help you find a financial advisor who fits your needs.