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DEFINITION
High Net Worth Individual (HNWI)
A high net worth individual (HNWI) is a person with a minimum of $1 million in liquid financial assets, excluding their primary residence, collectibles, and consumer durables. HNWIs often seek personalized financial services, such as wealth management, tax planning, and investment advice, to preserve and grow their wealth.
Synonyms
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Acronyms
HNWI
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Synonyms
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Acronyms
HNWI
Examples
As a high net worth individual with $5 million in investable assets, Sarah sought the services of a private bank to help manage her portfolio and provide tailored financial planning advice.
FAQ
What is the difference between a HNWI and an UHNWI?
An UHNWI (Ultra High Net Worth Individual) has at least $30 million in investable assets, while HNWIs have at least $1 million. UHNWIs often require even more sophisticated financial services due to the complexity of their wealth.
How do banks and financial institutions classify HNWIs?
Banks and financial institutions typically segment their clients based on their level of wealth. The exact thresholds for HNWI classification may vary between institutions, but the most common definition is having at least $1 million in investable assets.
What types of financial services do HNWIs typically require?
HNWIs often seek personalized financial services such as investment management, financial planning, tax optimization, estate planning, and concierge banking services. They may also require specialized lending and credit solutions, as well as access to alternative investments like hedge funds and private equity.
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