HNW client percentage for Supported firms serving clients in Tennessee

High-net-worth (HNW) client percentage represents the share of a firm's clients who meet the SEC’s high-net-worth threshold, indicating the firm’s typical client profile and service focus. A higher percentage suggests the firm is geared toward clients with more complex financial needs and higher minimums, while a lower percentage points to broader access and more standardized planning.

In Tennessee, supported firms—those with 1 to 4 advisors plus staff or managing over $200 million in assets—show a median HNW client percentage of 24.05%, slightly below the national median of 29.32%. Among the 214 firms in the state, many fall into the lower to mid-range of HNW client share, with boundaries indicating that most firms serve between roughly 8% and 54% HNW clients. This distribution suggests a mix of firms: some are focused on scalable affluent practices serving working professionals and smaller business owners, while others cater to a more bespoke HNW clientele with complex planning needs. The variation reflects deliberate positioning rather than early-stage growth, as these firms have established their target markets and service models.

For you, this means the HNW client percentage can help clarify what kind of advisory experience to expect. A firm with a lower HNW share may offer more accessible minimums and standardized services, while a higher share often signals tailored, comprehensive planning for wealthier clients. There is no single “right” percentage—it depends on your financial situation and preferences. Use this metric alongside others to find a firm that aligns with your goals and complexity. Or, if you'd rather skip the guesswork, Warmer can help you find a financial advisor who fits your needs.