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—roughly $1.1 million in managed assets or $2.2 million in net worth. This metric helps indicate the type of clientele a firm primarily serves: higher percentages suggest a focus on wealthier clients with more complex financial needs, while lower percentages point to broader accessibility and potentially more standardized services.

In Florida, among multi-team firms—those with 30 to 300 advisors or managing over $3 billion in assets—the median HNW client percentage is 14.83%, which is somewhat lower than the national median of 20.42%. With 420 firms and over 5,000 advisors represented, this distribution suggests that many Florida firms maintain a diverse client mix, often balancing service to both affluent and high-net-worth households. The range of HNW percentages indicates two possible interpretations: some firms may be in earlier growth stages, gradually building their HNW client base, while others intentionally maintain broader access with lower minimums to serve a wider audience.

What this means for you is that the HNW client percentage is a useful signal of a firm’s client focus but not a definitive measure of quality. Higher percentages often correspond to more personalized, complex planning tailored to wealthier clients, whereas lower percentages may reflect firms designed for accessibility and scalability. Understanding this metric alongside others can help you 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.