HNW client percentage for Multi-team firms serving clients in New Jersey

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

In New Jersey, among multi-team firms—those with 30 to 300 advisors or managing over $3 billion in assets—the median HNW client percentage is 15.36%, which is somewhat lower than the national median of 20.2%. With 243 firms in the state, the distribution ranges widely, from firms serving almost no HNW clients to those with over 67% HNW clients. This spread suggests a diverse market where some firms focus heavily on high-net-worth individuals, while others maintain a broader client base. The lower median could reflect either firms early in their growth phase or those intentionally designed to serve a wider audience, including mass-affluent clients alongside wealthier households.

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. A higher percentage often means higher account minimums and more personalized, complex planning, while a lower percentage may indicate more accessible services with standardized offerings. 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.