HNW client percentage across Team firms
HNW client percentage is 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). It signals who a firm is built to serve—higher percentages reflect higher minimums and more complex planning, while lower percentages reflect broader access.
What Share of a Team Firm's Clients Are HNW?
Team firms—5 to 30 advisors or managing over $500 million in assets—represent a more scaled, collaborative model of advice. At this point, the practice has the staff, systems, and infrastructure to serve a focused client base consistently.
At the national level, many team firms report HNW client percentages somewhere in the 30–70% range. Some sit lower, focused on broad affluent planning at scale. Others sit higher, focused largely on HNW and UHNW families.
Why the Range Tightens at This Scale
Team firms tend to have defined client minimums and a clearer service model than smaller practices. The math reflects that:
- Repeatable planning processes
- Shared coverage across associate advisors and specialists
- Defined onboarding criteria
The result is a more consistent HNW percentage across the firm, even as different advisors within the firm focus on slightly different segments.
Reading the Signal
A team firm with 30% HNW is usually built around affluent planning at scale—standardized, high-quality service for working professionals and pre-retirees. A team firm with 70%+ HNW is usually built around HNW planning, with deeper estate, tax, and investment work.
Where a firm falls in this range tells you a lot about how the team is structured—and what kind of relationship you can expect.
What This Means for You
HNW client percentage isn't a quality score. It's a fit signal:
- Higher HNW % → typically higher minimums, more complex planning, more bespoke service
- Lower HNW % → typically broader access, lower minimums, more standardized service
The right fit depends on where you sit relative to the SEC threshold, how complex your situation is, and what kind of relationship you want.
You can use this (and other metrics) to compare advisors.
Or, if you'd rather skip the guesswork, Warmer can help you find a financial advisor who fits your needs.
Median: 32%
See HNW client percentage across Team firms for any state
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