HNW client percentage for Independent firms serving clients in Texas

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 serves: a higher percentage suggests a focus on wealthier clients with more complex financial needs, while a lower percentage points to broader access and simpler planning.

In Texas, independent firms show a median HNW client percentage of about 23%, which is somewhat higher than the typical median seen across similar firms. With nearly 2,900 independent firms in the state, the distribution ranges widely—from firms with no HNW clients to those serving mostly high-net-worth individuals. This spread reflects the diversity of independent advisors in Texas: some may be early-stage practices still building their HNW client base, while others are boutique firms or family offices focused almost exclusively on affluent clients. The variation means that even within the same firm size category, the client focus and service complexity can differ dramatically.

For you, understanding a firm’s HNW client percentage offers insight into its typical client profile and service approach. A higher percentage often means higher account minimums and more tailored, complex planning, whereas a lower percentage usually indicates more accessible services for a broader range of clients. There’s no single “right” percentage—it depends on your own financial situation and what kind of advisory relationship you want. Use this metric alongside others to find a firm that aligns with your needs and goals. Or, if you'd rather skip the guesswork, Warmer can help you find a financial advisor who fits your needs.