HNW client percentage for Supported firms serving clients in New York

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 who a firm is designed to serve: higher percentages suggest a focus on wealthier clients with more complex financial needs, while lower percentages reflect a broader client base with more accessible minimums.

In New York, among supported firms—those with 1 to 4 advisors plus staff or managing over $200 million in assets—the median HNW client percentage is 31.01%, slightly above the national median of 29.39%. With 708 firms and 1,366 advisors represented, the distribution ranges widely, from firms serving mostly non-HNW clients to those with nearly all clients classified as high-net-worth. This spread suggests that many New York firms have deliberately positioned themselves along a spectrum: some operate scalable practices focused on affluent professionals and pre-retirees, while others cater to a more exclusive, high-net-worth clientele requiring bespoke planning. The presence of firms with very high HNW percentages indicates a strong boutique segment emphasizing complex tax, estate, and investment strategies.

For you, understanding a firm’s HNW client percentage can clarify whether its services align with your financial profile and needs. A higher percentage often means higher minimums and more personalized, complex planning, while a lower percentage may offer broader access with more standardized advice. There is no single “right” number—consider this metric alongside others to find a firm that matches your situation and goals. Or, if you'd rather skip the guesswork, Warmer can help you find a financial advisor who fits your needs.