HNW client percentage for Team firms serving clients in Utah

High-net-worth (HNW) client percentage represents the share of a firm's clients who meet the SEC’s threshold for high net worth—generally around $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: 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 Utah, among team firms—which typically have 5 to 30 advisors or manage over $500 million in assets—the median HNW client percentage is 22.21%, somewhat below the national median of 32.21%. With 165 such firms in the state, the distribution shows many Utah teams serving a mix of affluent and high-net-worth clients, but with fewer firms heavily concentrated in the upper HNW range. This suggests that many Utah teams may be balancing between serving clients just below or around the SEC threshold and those with more substantial wealth. Some firms may be intentionally positioned to offer scalable, standardized advice to a broader client base, while others focus more narrowly on higher-net-worth households with complex planning needs.

For you, this means there isn’t a single “right” HNW percentage to look for. A lower percentage can indicate more accessible minimums and streamlined service, while a higher percentage often signals deeper specialization and bespoke planning. 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.