HNW client percentage for Team firms serving clients in Minnesota

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 firm’s focus and client base complexity. For team firms—those with 5 to 30 advisors or managing over $500 million in assets—this metric helps reveal whether the practice leans toward broader affluent planning or more specialized, complex wealth management.

In Minnesota, among 202 team firms, the median HNW client percentage is 33.4%, slightly above the national median of 32.21%. The distribution ranges from about 4% to 74%, showing a diverse mix of firms. This suggests many Minnesota team firms serve a balanced client base, combining affluent professionals with a significant portion of high-net-worth individuals. Some firms may be earlier in their growth phase or intentionally maintain broader access with lower minimums, while others focus more exclusively on HNW clients, offering deeper, more customized planning.

For you, this means there’s no single “right” HNW percentage—it’s about fit. A higher percentage often signals firms with higher minimums and more bespoke services, while a lower percentage indicates broader access and more standardized offerings. Use this metric alongside others to understand how a firm’s client focus aligns with your financial situation and service expectations. Or, if you'd rather skip the guesswork, Warmer can help you find a financial advisor who fits your needs.