HNW client percentage for Multi-team firms serving clients in North Dakota

High-net-worth (HNW) client percentage reflects 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 point to broader access and potentially lower minimums.

In North Dakota, among multi-team firms—those with 30 to 300 advisors or managing over $3 billion in assets—the median HNW client percentage is notably low at 0.96%, compared to the national median of 20.2%. The distribution shows that many firms in the state have very few clients meeting the HNW threshold, with the majority clustering near zero and only a few firms serving a higher proportion of HNW clients. This pattern suggests that multi-team firms in North Dakota often cater to a broader client base rather than focusing heavily on high-net-worth households. It could reflect either firms still growing into specialized HNW services or a deliberate strategy to serve a wider market with more accessible minimums.

For you, this means that if you’re seeking a multi-team firm in North Dakota, you’re more likely to encounter firms with a broader client mix and potentially lower minimums. However, a lower HNW percentage doesn’t imply lesser quality—rather, it signals a different client focus and service model. Use this metric alongside others to understand how a firm’s client base aligns with your financial profile and service expectations, balancing personalization with scalability.

Or, if you'd rather skip the guesswork, Warmer can help you find a financial advisor who fits your needs.