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 threshold for high net worth—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. Higher percentages often reflect firms focused on complex, bespoke planning for wealthier clients, while lower percentages suggest broader access and more standardized services for affluent or pre-retiree households.

In Illinois, supported firms—those with 1–4 advisors plus staff or managing over $200 million in assets—show a median HNW client percentage of about 31.5%, slightly above the national median of 29.3%. With 436 firms and 866 advisors represented, the distribution ranges broadly from near zero up to over 90%. This suggests a diverse landscape where some firms focus on scalable, affluent client bases with lower minimums, while others cater more exclusively to high-net-worth individuals with complex financial needs. The presence of firms across this spectrum means Illinois clients can find advisors tailored to different levels of wealth and service complexity.

For you, this means the HNW client percentage is a helpful signal of a firm’s client focus but not a measure of quality. A higher percentage often means more personalized, in-depth planning with higher minimums, while a lower percentage may indicate more accessible, standardized services. Use this metric alongside others to find an advisor whose approach and client base 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.