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

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 structured to serve. Higher percentages often mean the firm focuses on more complex, bespoke planning for wealthier clients, while lower percentages suggest broader access and potentially more standardized services.

In Nevada, among multi-team firms—which typically have 30 to 300 advisors or manage over $3 billion in assets—the median HNW client percentage is 11.14%, notably lower than the national median of 20.2%. With 148 firms and 728 advisors represented, this distribution suggests that many Nevada multi-team firms serve a wider range of clients, including mass-affluent and affluent segments, rather than focusing predominantly on high-net-worth households. This could reflect a mix of firms still growing their HNW client base or intentionally maintaining broader access to serve diverse client needs. The range of HNW percentages across firms indicates variation in specialization and client minimums within the state.

For you, this means the HNW client percentage is a useful signal to understand a firm’s client focus but not a definitive quality measure. A higher percentage often corresponds to more tailored, complex services with higher minimums, while a lower percentage may offer more accessible entry points but potentially less customization. Consider 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.