HNW client percentage for Supported firms serving clients in Illinois

High-net-worth (HNW) client percentage measures the share of a firm’s clients who meet the SEC’s high-net-worth threshold, indicating who the firm is designed to serve. A higher percentage suggests a focus on clients with more complex financial needs and higher minimums, while a lower percentage points to broader access and more standardized planning. This metric helps you understand a firm’s target clientele and service approach.

In Illinois, among supported firms—which typically have 1–4 advisors with staff or manage over $200 million in assets—the median HNW client percentage is about 30.6%, slightly above the national median. With 435 firms reporting, the distribution shows a wide range: some firms serve mostly affluent clients just below the HNW threshold, while others focus heavily on high-net-worth individuals. This spread suggests that Illinois advisors have made deliberate choices about their client base, balancing between scalable practices serving a broader market and boutique firms offering highly personalized, complex planning. Firms with lower HNW percentages may emphasize efficient, standardized services for working professionals and smaller business owners, whereas those with higher percentages likely cater to clients needing in-depth tax, estate, and investment strategies.

For you, this means the HNW client percentage is a useful signal of how a firm structures its services and client minimums, but it’s not a measure of quality. A higher percentage often means more bespoke service with higher entry points, while a lower percentage indicates broader access and more standardized offerings. Use this metric alongside others to find an advisor whose client focus 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.