HNW client percentage across Multi-team firms
HNW client percentage is 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). It signals who a firm is built to serve—higher percentages reflect higher minimums and more complex planning, while lower percentages reflect broader access.
What Share of a Multi-Team Firm's Clients Are HNW?
Multi-team firms—30 to 300 advisors or managing over $3 billion in assets—represent a more complex, scaled organization with multiple teams operating under one roof.
At the national level, multi-team firms typically report HNW client percentages in a moderate-to-high range, often 30–60% HNW firm-wide. Some firms in this category run higher; some run lower.
Why Firm-Wide Averages Smooth Out
At this scale, firms usually have multiple service tiers:
- Mass-affluent and affluent planning teams
- Dedicated HNW and UHNW teams
- Specialty practices around executive compensation, business owners, retirement plans, or family offices
The firm-wide HNW percentage blends all of those segments together. So a multi-team firm reporting 40% HNW isn't necessarily serving every client at that level—it's reflecting the mix of households across the organization.
What to Watch For
Within a multi-team firm, the team you'd actually work with may have its own minimums and its own client mix. The firm-wide percentage is a starting point, not the whole story.
Still, a multi-team firm reporting 70% HNW firm-wide is clearly oriented toward HNW. One reporting 15% is built for broader access.
What This Means for You
HNW client percentage isn't a quality score. It's a fit signal:
- Higher HNW % → typically higher minimums, more complex planning, more bespoke service
- Lower HNW % → typically broader access, lower minimums, more standardized service
The right fit depends on where you sit relative to the SEC threshold, how complex your situation is, and what kind of relationship you want.
You can use this (and other metrics) to compare advisors.
Or, if you'd rather skip the guesswork, Warmer can help you find a financial advisor who fits your needs.
Median: 20%
See HNW client percentage across Multi-team firms for any state
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