HNW client percentage for Team firms serving clients in New York

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 who a firm is built 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 New York, among team firms—those with 5 to 30 advisors or managing over $500 million in assets—the median HNW client percentage is about 31.9%, closely aligning with the national median of 32.3%. With 543 firms and over 2,200 advisors, the state shows a wide range from just under 2% to over 90% HNW clients. This distribution suggests that many New York team firms balance serving affluent professionals with a sizable portion of high-net-worth clients. Some firms may be early-stage or intentionally broader in focus, offering scalable, standardized services, while others concentrate heavily on complex, bespoke planning for wealthier families. The consistency in this range reflects the structured, collaborative nature of team firms, which typically have clear client minimums and repeatable processes.

For you, understanding a firm’s HNW client percentage helps clarify its target clientele and service approach. There’s no single “right” number—it depends on your own financial situation and preferences. Higher percentages often mean higher minimums and more tailored advice, while lower percentages may offer greater accessibility and standardized planning. Use this metric alongside others to find an advisor whose model fits your needs and goals. Or, if you'd rather skip the guesswork, Warmer can help you find a financial advisor who fits your needs.