HNW client percentage for Independent firms serving clients in Washington

High-net-worth (HNW) client percentage measures 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 reveal the type of clients a firm serves: a higher percentage indicates a focus on wealthier clients with more complex financial needs, while a lower percentage suggests broader access for a wider range of households.

In Washington, independent firms show a median HNW client percentage of about 20.6%, slightly above the broader category median. Among 379 firms, this suggests a diverse mix of practices—some serving mostly mass-affluent or emerging-wealth clients, others built around high-net-worth households. The distribution indicates that while many firms have modest HNW client shares, a significant number focus heavily on wealthier clients, reflecting different business models. This range can mean either early-stage firms growing toward an HNW focus or intentionally boutique practices catering exclusively to affluent families.

For you, understanding a firm’s HNW client percentage offers insight into its client base and service style—but it’s not a measure of quality. Higher percentages often mean higher account minimums and more personalized, complex planning, while lower percentages usually signal more accessible services with standardized offerings. Use this metric alongside others to find an advisor whose approach matches 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.