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: higher percentages suggest a focus on wealthier clients with more complex financial needs, while lower percentages point to broader access and more standardized planning.

In Florida, among team firms—which typically have 5 to 30 advisors or manage over $500 million in assets—the median HNW client percentage is 28.46%. This is slightly below the national median of 32.14%, reflecting a diverse mix of client bases across the state’s 939 team firms. The distribution shows many firms serving a broader affluent market with lower minimums, while others concentrate more heavily on high-net-worth clients. This spread suggests two common approaches: some Florida teams focus on scalable, standardized planning for a wider audience, while others prioritize deeper, bespoke services for wealthier families.

For you, this means the HNW client percentage is a useful signal of a firm’s client focus but not a measure of quality. Higher percentages often mean higher minimums and more tailored planning, while lower percentages indicate broader accessibility and more standardized service. Understanding where a firm falls on this spectrum can help you find an advisor whose approach matches your financial situation and relationship preferences. Use this metric alongside others to get a fuller picture of what to expect.

Or, if you'd rather skip the guesswork, Warmer can help you find a financial advisor who fits your needs.