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

High-net-worth (HNW) client percentage measures the share of a firm’s clients who meet the SEC’s high-net-worth threshold—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: a higher percentage suggests a focus on wealthier clients with more complex financial needs, while a lower percentage points to broader access and potentially simpler planning.

In Wisconsin, among multi-team firms—which typically have 30 to 300 advisors or manage over $3 billion in assets—the median HNW client percentage is 15.36%, somewhat below the national median of 20.2%. With 183 firms represented, the distribution ranges widely, from firms serving virtually no HNW clients to those with very high concentrations. This spread suggests a diverse landscape where some firms may be early-stage or intentionally focused on serving a broader client base, while others cater more exclusively to high-net-worth individuals. The variation reflects the multiple service tiers common in multi-team firms, blending mass-affluent, affluent, and HNW client segments under one roof.

For you, this means the HNW client percentage is a useful starting point to understand a firm’s client focus but not a definitive measure of quality. A higher percentage often means higher minimums and more customized service, while a lower percentage may offer greater accessibility and standardized offerings. Consider this metric alongside others to find an advisor whose client mix and service style align 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.