HNW client percentage for Supported firms serving clients in Maryland

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: higher percentages suggest a focus on wealthier clients with more complex financial needs, while lower percentages point to broader access for a wider range of investors.

In Maryland, supported firms—which typically have 1–4 advisors with staff or manage over $200 million in assets—show a median HNW client percentage of about 29.8%, closely aligning with the national median of 29.4%. Among the 241 firms in the state, this distribution suggests a balanced mix: many firms serve a blend of affluent and high-net-worth clients, while others lean toward either more accessible affluent practices or boutique HNW-focused models. This range reflects two common approaches—firms with lower HNW percentages often aim for scalability and serve a broader client base with more standardized planning, whereas those with higher percentages tend to offer more personalized, complex services tailored to wealthier individuals.

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 usually indicates higher minimums and bespoke planning, while a lower percentage suggests broader access and more standardized services. Understanding this metric alongside others can help you find an advisor whose approach matches 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.