HNW client percentage for Team firms serving clients in North Dakota

High-net-worth (HNW) client percentage reflects the share of a firm’s clients who meet the SEC’s high-net-worth threshold—generally those with at least $1.1 million in managed assets or $2.2 million in net worth. This metric helps indicate the type of clients a firm is built to serve: a higher percentage suggests a focus on wealthier clients with more complex financial needs, while a lower percentage points to broader access and more standardized planning.

In North Dakota, among team firms—those with 5 to 30 advisors or managing over $500 million in assets—the median HNW client percentage is 21.3%, which is somewhat lower than the typical national median of around 32%. With 24 firms and 54 advisors represented, the distribution ranges widely from about 1.7% up to 97%, showing considerable variation in client focus. This spread suggests that some firms in North Dakota serve a broader affluent base with more accessible minimums, while others concentrate heavily on high-net-worth clients requiring more specialized planning. The variation may also reflect differences in firm maturity or strategic focus, with some firms intentionally maintaining a smaller, more exclusive client base and others scaling for wider reach.

For you, this means the HNW client percentage can be a helpful signal about a firm’s typical client profile and service model, but there is no single “right” number. Higher percentages often mean more bespoke, complex advice with higher minimums, while lower percentages may offer more standardized service and broader access. Use this metric alongside others to find an advisor whose approach and client base align 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.