HNW client percentage for Independent firms serving clients in Indiana

High-net-worth (HNW) client percentage represents 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 signal the type of clients a firm is built to serve: higher percentages often indicate firms focused on complex, bespoke planning for wealthier clients, while lower percentages suggest broader access and lower minimums.

In Indiana, among 210 independent firms, the median HNW client percentage is 7.03%, notably lower than the broader category median of 18.24%. The distribution shows many firms with very low HNW percentages, with the upper range reaching about 66%. This suggests that many independent advisors in Indiana serve a wider range of clients, including those below the high-net-worth threshold. Some firms may be early-stage practices still building their HNW client base, while others intentionally focus on serving mass-affluent or emerging-wealth households. The variation reflects a diverse landscape where two similarly sized firms can have very different client profiles and service models.

For you, this means the HNW client percentage is a useful signal of a firm’s typical client base and service approach, but not a measure of quality. A higher percentage often means higher minimums and more tailored, complex planning, while a lower percentage points to broader access and more standardized services. Consider this metric alongside others to find an advisor whose client focus and service style align with your needs and financial situation. Or, if you'd rather skip the guesswork, Warmer can help you find a financial advisor who fits your needs.