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 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 accessibility and potentially more standardized services.

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 22.7%, slightly above the national median of 20.2%. The distribution ranges widely, with some firms serving almost exclusively HNW clients and others catering to a broader client base. This spread suggests that Washington firms vary in their client focus: some may be early-stage or intentionally designed to serve a wider audience, while others emphasize specialized, high-net-worth planning. The presence of multiple teams within these firms means the overall percentage blends different service tiers, so the firm-wide figure is a useful starting point but not the full picture.

For you, understanding a firm’s HNW client percentage helps clarify whether its client base aligns with your financial profile and needs. A higher percentage often means higher minimums and more tailored, complex planning, while a lower percentage may indicate more accessible services with standardized offerings. There is no single “right” number—consider this metric alongside others to find a firm that matches your situation and preferences. Or, if you'd rather skip the guesswork, Warmer can help you find a financial advisor who fits your needs.