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

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 clients a firm is designed to serve: higher percentages suggest a focus on wealthier clients with more complex financial needs, while lower percentages reflect broader access to a wider range of investors.

In Indiana, among multi-team firms—those with 30 to 300 advisors or managing over $3 billion in assets—the median HNW client percentage is 15.29%, which is somewhat lower than the national median of 20.42%. With 178 firms represented, the distribution shows a wide range, from firms serving very few HNW clients to those with nearly three-quarters of their clients meeting the threshold. This suggests that many Indiana multi-team firms lean toward broader access and may include a significant number of mass-affluent or affluent clients alongside their HNW clientele. The variation also reflects two possible interpretations: some firms may be early in developing dedicated HNW teams, while others intentionally maintain a more inclusive client base.

What this means for you is that the HNW client percentage is a useful signal about a firm’s typical client profile but not a definitive measure of quality. A higher percentage often means more specialized, complex planning and higher minimums, while a lower percentage indicates more standardized services and broader accessibility. Understanding this metric alongside others can help you find a firm whose client focus and service style align with 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.