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 the type of clients 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 32.2%. With 540 firms and over 2,200 advisors, the distribution here shows a wide range, from firms serving mostly non-HNW clients to those with very high concentrations of wealthy clients. This suggests that many New York teams balance serving affluent professionals at scale with others focusing more narrowly on high-net-worth families. The variation reflects two common interpretations: some firms are early-stage or intentionally maintain broader access, while others have established higher minimums and more bespoke services tailored to complex wealth management.

For you, this means the HNW client percentage is a useful indicator of a firm’s target clientele and service model but not a measure of quality. A higher percentage often means more personalized, complex planning with higher minimums, while a lower percentage may offer more standardized services and broader access. Use this metric alongside others to understand how a firm’s client focus 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.