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

High-net-worth (HNW) client percentage measures the share of a firm's clients who meet the SEC’s high-net-worth threshold—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 built to serve: higher percentages suggest a focus on wealthier clients with more complex financial needs, while lower percentages point to broader access for a wider range of investors.

In Florida, multi-team firms—those with 30 to 300 advisors or managing over $3 billion in assets—show a median HNW client percentage of about 14.8%, which is somewhat lower than the national median for similar firms. With 412 firms operating in the state, the distribution ranges from under 1% up to around 65%, indicating a wide variety of client mixes. This suggests that many Florida multi-team firms serve a more diverse client base, blending mass-affluent and high-net-worth segments. Some firms may be early in their growth or intentionally focused on broader access, while others lean more heavily into serving wealthier clients with specialized, complex planning.

For you, this means the HNW client percentage can help you understand a firm’s typical client profile but doesn’t measure quality. A higher percentage often means higher minimums and more tailored service, while a lower percentage may offer more standardized advice and lower entry points. Use this metric alongside others to find a firm that matches your financial situation and service preferences. Or, if you'd rather skip the guesswork, Warmer can help you find a financial advisor who fits your needs.