HNW client percentage for Multi-team firms serving clients in Arizona

High-net-worth (HNW) client percentage measures the share of a firm’s clients who meet the SEC’s threshold for high net worth—generally around $1.1 million in managed assets or $2.2 million in net worth. This metric helps indicate the type of clients a firm is structured to serve. For multi-team firms, which typically have 30 to 300 advisors or manage over $3 billion in assets, the HNW client percentage reflects a blend of different service tiers, from mass-affluent to ultra-high-net-worth clients.

In Arizona, among 254 multi-team firms, the median HNW client percentage is 11.14%, notably lower than the national median of about 20%. The distribution shows many firms with relatively low HNW client shares, suggesting a broader client base that includes more mass-affluent households alongside wealthier clients. This pattern can reflect two scenarios: some firms may be early in developing their HNW practices, while others intentionally maintain a wider client mix to serve diverse financial needs. The range of HNW percentages in Arizona indicates that multi-team firms vary significantly in their focus, with some oriented toward more accessible planning and others toward specialized, high-net-worth services.

For you, this means the HNW client percentage is a useful signal about a firm’s typical client profile and service approach, but it’s not a measure of quality. A higher percentage often means higher minimums and more tailored, complex planning, while a lower percentage suggests broader access and more standardized offerings. Consider this metric alongside others to find a firm that matches your financial situation and relationship preferences. Or, if you'd rather skip the guesswork, Warmer can help you find a financial advisor who fits your needs.