HNW client percentage for Supported firms serving clients in Arizona

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 designed to serve. Firms with higher HNW percentages typically focus on more complex financial planning for wealthier clients, while those with lower percentages tend to offer broader access and more standardized services.

In Arizona, among supported firms—those with 1 to 4 advisors plus staff or managing over $200 million in assets—the median HNW client percentage is 21.58%, somewhat lower than the national median of 29.32%. The distribution shows a range from very low to moderately high HNW client shares, with most firms falling below 30%. This suggests that many Arizona firms in this category lean toward serving affluent and pre-retiree households rather than exclusively high-net-worth clients. The variation also reflects two common approaches: some firms intentionally maintain a scalable model serving a wider client base with more standardized planning, while others focus on a smaller number of high-net-worth clients requiring more bespoke services.

For you, this means the HNW client percentage is a useful signal of a firm’s client focus but not a measure of quality. A higher percentage often indicates firms with higher minimums and more complex, personalized planning, whereas a lower percentage suggests broader access and more streamlined service. Understanding where a firm falls on this spectrum can help you find an advisor whose approach aligns with your financial situation and goals. Use this metric alongside others to get a fuller picture of fit.

Or, if you'd rather skip the guesswork, Warmer can help you find a financial advisor who fits your needs.