HNW client percentage for Independent firms serving clients in Missouri

High-net-worth (HNW) client percentage represents the share of a firm's clients who meet the SEC’s threshold for high net worth—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: a higher percentage suggests a focus on wealthier clients with more complex financial needs, while a lower percentage points to broader accessibility and potentially simpler planning.

In Missouri, among independent firms, the median HNW client percentage is about 14.3%, which is somewhat lower than the broader national median of 18.2%. With 201 independent firms reporting, the distribution shows a range from firms serving virtually no HNW clients up to those with nearly 40% HNW clients, but fewer firms at the very high end compared to the national spread. This suggests that many Missouri independent advisors tend to serve a mix of clients, often including working professionals and emerging wealth, rather than focusing exclusively on high-net-worth households. Some firms may be early in their growth toward an HNW niche, while others intentionally maintain a broader client base with lower minimums.

For you, this means the HNW client percentage can be a useful indicator of a firm’s typical client profile and service style. A higher percentage often correlates with more personalized, complex planning and higher account minimums, while a lower percentage usually means more accessible services tailored to a wider range of clients. There’s no single “right” number—it depends on your financial situation and what kind of advisor relationship you want. Use this metric alongside others to find the best fit for your needs.

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