HNW client percentage for Supported firms serving clients in Utah

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 households.

In Utah, supported firms—those with 1 to 4 advisors plus staff or managing over $200 million in assets—show a median HNW client percentage of about 19.6%, which is below the national median of 29.4%. Among the 144 firms in the state, many have relatively low HNW client shares, with the distribution’s middle range falling between roughly 3% and 25%. This suggests that many Utah firms in this category lean toward serving a broader, more affluent clientele rather than exclusively high-net-worth households. Some firms may be early in their growth or intentionally designed for scalability with more standardized planning, while others with higher percentages focus on more bespoke, complex wealth management.

For you, this means the HNW client percentage is a useful signal of a firm’s typical client profile and service model, but it’s not a measure of quality. Higher percentages often mean higher minimums and more personalized planning, while lower percentages indicate greater accessibility and more streamlined services. Consider this metric alongside others to find an advisor whose approach matches your financial situation and relationship preferences. Or, if you'd rather skip the guesswork, Warmer can help you find a financial advisor who fits your needs.