HNW client percentage across Supported firms
HNW client percentage is 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). It signals who a firm is built to serve—higher percentages reflect higher minimums and more complex planning, while lower percentages reflect broader access.
What Share of a Supported Firm's Clients Are HNW?
Supported firms—1–4 advisors with staff, or any firm managing more than $200 million in assets—represent a more established stage of an advisory practice. By this point, most firms have made deliberate choices about who they serve.
At the national level, supported firms span a wide range:
- Some report 10–25% HNW, focused on affluent and pre-retiree households
- Many sit in the 30–60% range, with a mix of affluent and HNW relationships
- Boutique HNW practices in this category often report 70%+ HNW
What's Driving the Range
At this stage, HNW percentage tends to reflect deliberate positioning:
- Lower percentages often signal a scalable affluent practice—solid planning for working professionals, business owners on the smaller end, and pre-retirees
- Higher percentages often signal a more bespoke planning model with higher minimums and more complex situations
The infrastructure—staff, technology, partners—has caught up with the practice. The number is less about growth and more about design.
How This Translates Into Service
A supported firm with 15% HNW is probably running a more efficient, broader-reach practice with relatively standardized planning. A supported firm with 80% HNW is almost certainly built around HNW planning, with deep tax, estate, and investment work.
Both can be excellent. They're just built for different clients.
What This Means for You
HNW client percentage isn't a quality score. It's a fit signal:
- Higher HNW % → typically higher minimums, more complex planning, more bespoke service
- Lower HNW % → typically broader access, lower minimums, more standardized service
The right fit depends on where you sit relative to the SEC threshold, how complex your situation is, and what kind of relationship you want.
You can use this (and other metrics) to compare advisors.
Or, if you'd rather skip the guesswork, Warmer can help you find a financial advisor who fits your needs.
Median: 29%
See HNW client percentage across Supported firms for any state
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