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 criteria—generally those with at least $1.1 million in managed assets or $2.2 million in net worth. This metric helps indicate the type of clients a firm serves: a higher percentage suggests a focus on wealthier clients with more complex financial needs, while a lower percentage points to 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 about 35%, slightly above the national median of 32%. With 213 such firms and over 800 advisors, the distribution shows a range from just under 2% to nearly 84% HNW clients. This suggests that many Maryland teams balance serving affluent clients at scale with a significant portion of high-net-worth households. Some firms may be early in building a high-net-worth client base or intentionally maintain a broader client mix to offer more accessible services, while others focus more exclusively on complex, high-net-worth planning.

For you, this means the HNW client percentage can help clarify what kind of firm you’re looking at and whether their client base aligns with your financial situation and service expectations. There’s no single “right” percentage—higher numbers often mean more personalized, complex advice with higher minimums, while lower numbers may offer more standardized services and broader access. Use this metric alongside others to find a firm that fits your needs and preferences.

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