HNW client percentage for Team firms serving clients in Montana

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

In Montana, among team firms—those with 5 to 30 advisors or managing over $500 million in assets—the median HNW client percentage is about 29.6%. This is slightly below the national median of 32.3%, reflecting a distribution where many firms serve a mix of affluent clients and some who may not meet the high-net-worth threshold. The range of HNW client percentages in Montana spans from just over 1% to nearly 76%, indicating diversity in firm focus. Some firms may be early in their growth or intentionally maintain broader access with lower minimums, while others concentrate more heavily on high-net-worth families with complex financial needs. This spread suggests that Montana’s team firms offer a variety of service models, from scalable affluent planning to more bespoke wealth management.

For you, understanding a firm’s HNW client percentage can clarify what kind of client base the firm is built to serve. There’s no single “correct” percentage—it’s about fit. A higher percentage often means higher minimums and more personalized, complex planning, while a lower percentage usually means broader access and more standardized offerings. Use this metric alongside others to find a financial advisor whose approach aligns with your financial situation and goals. Or, if you'd rather skip the guesswork, Warmer can help you find a financial advisor who fits your needs.