HNW client percentage for Supported firms serving clients in Minnesota

High-net-worth (HNW) client percentage represents 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 who a firm is designed to serve: higher percentages often mean the firm focuses on more complex, bespoke planning for wealthier clients, while lower percentages suggest broader access with more standardized services.

In Minnesota, among supported firms—which typically have 1 to 4 advisors with staff or manage over $200 million in assets—the median HNW client percentage is about 28.8%. This aligns closely with the national median of 29.3%, showing that Minnesota firms generally balance serving affluent and high-net-worth clients. The distribution ranges from just over 1% to nearly 80%, indicating a diverse landscape: some firms focus on scalable practices serving a wider range of affluent clients, while others specialize in high-net-worth households with more complex needs. This spread suggests that Minnesota’s supported firms have made deliberate choices about their client base, reflecting different business designs rather than growth stages.

For you, understanding a firm’s HNW client percentage can clarify whether its services match your financial situation and goals. A higher percentage usually means higher minimums and more tailored planning, while a lower percentage may offer broader access with more standardized advice. There’s no single “right” number—it’s about fit. Use this metric alongside others to find an advisor whose approach aligns with your needs. Or, if you'd rather skip the guesswork, Warmer can help you find a financial advisor who fits your needs.