HNW client percentage for Team firms serving clients in Utah

High-net-worth (HNW) client percentage reflects the share of a firm's clients who meet the SEC’s high-net-worth threshold, indicating the firm’s focus and service model. For team firms—those with 5 to 30 advisors or managing over $500 million in assets—this metric helps reveal whether the firm primarily serves affluent clients at scale or concentrates on more complex, bespoke planning for wealthier families.

In Utah, among 166 team firms, the median HNW client percentage is 22.21%, which is somewhat lower than the national median of 32.28%. The distribution shows many firms with HNW client percentages clustered below 30%, suggesting a greater emphasis on broader affluent planning rather than exclusively high-net-worth clients. This pattern may reflect a mix of firms in earlier growth stages or those intentionally maintaining lower minimums to serve a wider client base. Conversely, firms toward the higher end of the range likely focus more on complex wealth management for established HNW households. The variation indicates that Utah’s team firms offer a spectrum of service models, from scalable, standardized advice to more tailored, high-touch planning.

For you, this means the HNW client percentage is a helpful signal about a firm’s typical client profile and service approach, but it’s not a quality rating. Higher percentages generally correspond to firms with higher minimums and more customized services, while lower percentages suggest broader access and more standardized offerings. Understanding where a firm falls on this scale can guide your expectations and help you find a match that fits your financial situation and relationship preferences. Use this metric alongside others to get a fuller picture.

Or, if you'd rather skip the guesswork, Warmer can help you find a financial advisor who fits your needs.