What is HNWI (High Net Worth Individual)?
High Net Worth Individual (HNWI) Definition
A High-Net-Worth Individual, or HNWI for short, is defined as someone whose liquid assets exceed a given amount.
Usually, High-Net-Worth- Individuals are classified as holding financial assets exceeding one million dollars.
People whose liquid assets sit between one hundred thousand and just under one million dollars are considered to have a “sub-high” net worth.
Categories of HNWI
High-Net-Worth-Individuals fall into subcategories based on the amount of money they have to invest.
“Very-high net worth” begins at five million dollars, followed by “ultra-high” at fifty-million dollars or more.
More and more individuals are added to the ranks of the High-Net- Worth club every year.
In fact, in some cities, there are neighborhoods comprised entirely of these individuals.
Wealth Management for HNWI
Private wealth managers tend to seek as many of these High-Net- Worth-Individuals as they can to build their business.
Some advisers even specialize specifically in these people through services like investment management, estate planning, and tax planning, and more.