High Net Worth Individuals
What Does High Net Worth Individual - HNWI Mean?
A classification used by the financial services industry to denote an individual or a family with high net worth. Although there is no precise definition of how rich somebody must be to fit into this category, high net worth is generally quoted in terms of liquid assets over a certain figure. The exact amount differs by financial institution and region. The categorization is relevant because high net worth individuals generally qualify for separately managed investment accounts instead of regular mutual funds.
Investopedia explains High Net Worth Individual – HNWI
The most commonly quoted figure for membership in the high net worth "club" is $1 million in liquid financial assets. An investor with less than $1 million but more than $100,000 is considered to be "affluent", or perhaps even "sub-HNWI". The upper end of HNWI is around $5 million, at which point the client is then referred to as "very HNWI". More than $50 million in wealth classifies a person as "ultra HNWI".
HNWIs are in high demand by private wealth managers. The more money a person has, the more work it takes to maintain and preserve those assets. These individuals generally demand (and can justify) personalized services in investment management, estate planning, tax planning, and so on.
How The Financial Dream Team Can Help You Maintain Your High Net Worth Position
Regardless of your wealth, whether you are HNWI or ultra HNWI, more often than not you need advise on managing your affairs. It could be asset protection, money management, financial planning, estate planning, college planning, insurance planning or tax planning. Any one of these disciplines may play an important role in maintaining your high net worth position. Let one of our Financial Dream Team advisors assist you in your affairs—this could be one of your wisest investments.