HNW client percentage for Enterprise firms serving clients in Indiana

High-net-worth (HNW) client percentage represents the share of a firm's clients who meet the SEC’s threshold for high net worth—generally around $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, with higher percentages suggesting a focus on wealthier clients requiring more complex financial planning, and lower percentages reflecting broader access to a wider range of investors.

In Indiana, among enterprise firms—those with 300 to 3,000 advisors or over $30 billion in assets—the median HNW client percentage is 5.99%, notably lower than the national median of 20.44%. This suggests that many Indiana-based enterprise firms serve a larger proportion of affluent or mass-affluent clients rather than predominantly high-net-worth individuals. The distribution shows a wide range, with some firms focusing almost exclusively on non-HNW clients and others serving a more balanced mix. This pattern may reflect either firms in earlier stages of developing specialized HNW practices or those intentionally maintaining a broader client base to offer more accessible services.

For you, this means the HNW client percentage is a useful signal about a firm’s client focus but not a measure of quality. A lower percentage often means more standardized services and lower minimums, while a higher percentage indicates more bespoke planning geared toward complex needs. Understanding where a firm falls on this spectrum can help you find an advisor whose approach aligns with your financial situation and goals. Use this metric alongside others to get a fuller picture of fit.

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