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

High-net-worth (HNW) client percentage measures the share of a firm’s clients who meet the SEC’s threshold for high net worth—generally around $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. Firms with higher HNW percentages often focus on more complex financial planning and bespoke services, while those with lower percentages tend to offer broader access and more standardized solutions.

In Washington, among multi-team firms—those with 30 to 300 advisors or managing over $3 billion in assets—the median HNW client percentage is about 21.7%, slightly above the national median of 20.2%. The distribution in the state ranges widely, with some firms serving nearly no HNW clients and others serving over 80%. This spread suggests a diverse landscape: some firms may be early in developing their HNW practices or intentionally maintaining broader client access, while others are more focused on high-net-worth households. Because multi-team firms often have multiple service tiers, the overall percentage blends these different client segments rather than representing a single client experience.

For you, this means the HNW client percentage is a useful signal about a firm’s typical client base and service approach, but it’s not a definitive quality measure. Higher percentages often mean higher minimums and more tailored planning, while lower percentages may indicate more accessible, standardized offerings. Consider this metric alongside others to find a firm that matches your financial profile and service preferences. Or, if you'd rather skip the guesswork, Warmer can help you find a financial advisor who fits your needs.