HNW client percentage for Multi-team firms serving clients in South Carolina

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 who a firm is designed to serve: a higher percentage suggests a focus on wealthier clients with more complex financial needs, while a lower percentage points to broader access for a wider range of clients.

In South Carolina, among multi-team firms—those with 30 to 300 advisors or managing over $3 billion in assets—the median HNW client percentage is 11.14%, notably lower than the national median of about 20%. With 221 firms and 1,305 advisors represented, this distribution suggests many firms in the state serve a more diverse client base, including a significant portion of mass-affluent and affluent clients alongside HNW households. This could reflect either firms early in their growth stages or those intentionally maintaining broader access rather than focusing predominantly on high-net-worth clients. The range also shows some firms with very low HNW percentages and others approaching 44%, indicating varied approaches within the state.

For you, this means the HNW client percentage is a useful signal about a firm’s client focus but not a definitive quality measure. A higher percentage often means higher minimums and more tailored, complex services, while a lower percentage may offer more standardized planning and lower entry barriers. 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.