HNW client percentage for Institution firms serving clients in Maryland

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 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 access for a wider range of investors.

In Maryland, among 27 institutional firms, the median HNW client percentage aligns with the national median at 22.36%. The distribution shows a range from just under 2% up to about 51%, indicating considerable variation among firms. This suggests that some institutions in Maryland lean toward serving a broader client base with lower minimums, while others concentrate more heavily on high-net-worth individuals requiring specialized, complex planning. Given the scale of these firms, this spread likely reflects the diversity of divisions within each institution—from mass-affluent advisors to private banking teams—rather than a one-size-fits-all approach.

For you, this means the HNW client percentage is a useful directional signal rather than a definitive measure of quality. A higher percentage often means more tailored, complex services with higher account minimums, while a lower percentage may offer more standardized services accessible to a wider audience. Use this metric alongside others to understand how well a firm’s client focus 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.