HNW client percentage for Team firms serving clients in Florida

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 built to serve: a higher percentage suggests a focus on complex, bespoke planning for wealthier individuals, while a lower percentage points to broader access and more standardized services.

In Florida, among team firms—those with 5 to 30 advisors or managing over $500 million in assets—the median HNW client percentage is about 29%, slightly below the national median of 32%. With 945 such firms and over 3,200 advisors statewide, the distribution shows a wide range, from as low as around 1.7% up to nearly 89%. This suggests that many Florida teams serve a diverse client base, balancing affluent clients with some high-net-worth households. Some firms may be in earlier growth stages or intentionally maintain lower minimums to attract a broader clientele, while others focus more exclusively on high-net-worth families with complex needs.

For you, understanding a firm’s HNW client percentage offers insight into their typical client profile and service approach. There’s no single “right” number; higher percentages often mean more personalized, in-depth planning but with higher entry points, while lower percentages may indicate greater accessibility with more standardized offerings. Use this metric alongside others to find a financial advisor whose client focus and service style align with your financial situation and goals. Or, if you'd rather skip the guesswork, Warmer can help you find a financial advisor who fits your needs.