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

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 structured to serve: a higher percentage suggests a focus on wealthier clients with more complex financial needs, while a lower percentage points to broader accessibility for clients with more modest assets.

In Texas, multi-team firms—which typically have between 30 and 300 advisors or manage over $3 billion in assets—show a median HNW client percentage of about 20.4%. This is quite close to the national median for similar firms. The distribution ranges from just over 2% to nearly 68%, indicating a wide variety of client mixes across firms in the state. Some firms lean toward serving a larger proportion of high-net-worth clients, reflecting higher minimums and specialized services, while others maintain a broader client base with more accessible entry points. This variation can reflect differences in firm strategy, market focus, or the presence of multiple service tiers within the same firm.

For you, understanding a firm’s HNW client percentage offers insight into the kind of client experience and service model you might expect. There’s no single “right” percentage—it’s about fit. Higher percentages often mean more bespoke, complex planning but may require higher minimum investments, while lower percentages suggest more standardized services and broader access. Use this metric alongside others to find a firm that aligns with your financial situation and goals. Or, if you'd rather skip the guesswork, Warmer can help you find a financial advisor who fits your needs.