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

High-net-worth (HNW) client percentage measures the share of a firm’s clients who meet the SEC’s high-net-worth threshold, indicating the level of wealth a firm typically serves. For multi-team firms—those with 30 to 300 advisors or managing over $3 billion—this metric reflects a blend of client segments, from mass-affluent to ultra-high-net-worth, showing how the firm balances broader access with specialized, complex planning.

In Maryland, among 200 multi-team firms, the median HNW client percentage is 15.29%, which is somewhat lower than the national median of 20.2%. The distribution ranges widely, with some firms serving almost exclusively high-net-worth clients and others focusing on a broader client base. This spread suggests that Maryland’s multi-team firms vary in their client focus: some may be early-stage or intentionally designed to serve a wider audience, while others concentrate more heavily on affluent clients. The diversity in HNW percentages reflects the presence of multiple service tiers within these firms, from standard financial planning to highly tailored wealth management.

For you, this means the HNW client percentage is a useful indicator of a firm’s typical client profile but not a definitive measure of quality. A higher percentage often signals more bespoke, complex services with higher minimums, while a lower percentage implies broader access and potentially more standardized offerings. Understanding this metric alongside others can help you find a firm that matches your wealth level and service preferences. Or, if you'd rather skip the guesswork, Warmer can help you find a financial advisor who fits your needs.