HNW client percentage for Team firms serving clients in Massachusetts

High-net-worth (HNW) client percentage measures the share of a firm's clients who meet the SEC’s high-net-worth threshold, indicating the type of clients a firm is designed to serve. For team firms—those with 5 to 30 advisors or managing over $500 million in assets—this metric helps reveal whether the firm focuses more on affluent clients broadly or specializes in serving wealthier families with complex financial needs.

In Massachusetts, the median HNW client percentage among team firms is 41.74%, notably higher than the broader national median of 32.28%. This suggests that many Massachusetts teams lean toward serving a larger proportion of high-net-worth clients, often with more tailored estate, tax, and investment planning. The distribution ranges widely—from just under 4% to over 94%—reflecting a mix of firms: some built around scalable, affluent planning with broader access, and others focused on highly specialized, bespoke service for wealthier households. With nearly 300 team firms in the state, this diversity means you can find firms that match a variety of financial situations and service preferences.

What this means for you is that a higher HNW percentage typically signals firms with higher minimums and more complex, personalized planning, while a lower percentage indicates broader access and more standardized service. There’s no single “right” number; instead, consider how your own financial complexity and relationship goals align with these patterns. Use this metric alongside others to find a firm that fits your unique needs.

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