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

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. This metric helps signal whether a firm focuses on complex, bespoke planning for wealthier clients or offers broader access with more standardized services. For multi-team firms—those with 30 to 300 advisors or managing over $3 billion in assets—the HNW client percentage reflects a blend of different client segments across multiple specialized teams.

In New Mexico, multi-team firms show a median HNW client percentage of 8.52%, which is notably lower than the national median of about 20%. Among 107 firms and nearly 500 advisors statewide, the distribution skews toward firms serving fewer high-net-worth clients, with many reporting very low or zero HNW percentages. This suggests that multi-team firms in New Mexico often emphasize broader access and serve a wider range of client wealth levels rather than focusing predominantly on high-net-worth households. This pattern could reflect either firms in earlier growth stages or those intentionally structured to provide more inclusive service tiers.

For you, this means that when evaluating multi-team firms in New Mexico, a lower HNW client percentage does not imply lower quality but rather a different client focus and service model. Higher percentages typically indicate firms with higher minimums and more complex, tailored planning, while lower percentages suggest firms with broader access and potentially more standardized offerings. Use this metric alongside others to understand how a firm’s client base aligns with your wealth level and service expectations.

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