HNW client percentage for Team firms serving clients in Maryland

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 signal the type of clients a firm is designed to serve: higher percentages indicate a focus on wealthier clients with more complex financial needs, while lower percentages suggest broader access and more standardized planning.

In Maryland, among team firms—those with 5 to 30 advisors or managing over $500 million in assets—the median HNW client percentage is 35.48%, slightly above the national median of 32.14%. With 212 firms represented, the distribution ranges from just under 2% to over 84%, showing a wide variety of client focuses. This spread suggests that some Maryland teams concentrate on affluent professionals and pre-retirees with more standardized services, while others cater predominantly to high-net-worth families requiring deeper, more customized planning. The presence of firms across this spectrum reflects both early-stage teams still building their HNW client base and established teams intentionally serving a wealthier clientele.

For you, this means the HNW client percentage can help clarify what kind of service model a Maryland team firm might offer. A higher percentage often corresponds to higher minimum investment requirements and more bespoke, complex planning, while a lower percentage usually means more accessible, scalable advice. There’s no single “right” number—it depends on your financial situation and the relationship style you prefer. Use this metric alongside others to find a firm that aligns with your needs.

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