HNW client percentage for Enterprise firms serving clients in Indiana

High-net-worth (HNW) client percentage measures the share of a firm's clients who meet the SEC’s high-net-worth threshold—roughly $1.1 million in managed assets or $2.2 million in net worth. This metric helps indicate the type of clients a firm primarily serves: higher percentages suggest a focus on wealthier clients with more complex financial needs, while lower percentages imply broader access for a wider range of investors.

In Indiana, enterprise firms—those with 300 to 3,000 advisors or over $30 billion in assets—show a median HNW client percentage of 5.11%, which is notably lower than the national median of about 20%. Among the 77 firms in the state, most have relatively small shares of high-net-worth clients, with the distribution’s upper boundary reaching around 46%. This suggests that many Indiana enterprise firms serve a broader client base, likely focusing more on affluent and mass-affluent households rather than predominantly high-net-worth individuals. The lower percentages could reflect firms that are either early in developing their HNW practices or intentionally structured to provide more accessible services to a wider audience.

For you, this means the HNW client percentage is a helpful indicator of a firm’s typical client profile but not a measure of quality. A higher percentage often means higher minimum investment requirements and more tailored, complex planning, while a lower percentage may indicate more standardized services and broader client access. Use this metric alongside others to find an advisor whose approach and client focus align with your financial situation and goals.

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