High-net-worth individual (HNWI) - Financial definition
Concise definition of the term high-net-worth individual
A high-net-worth individual (HNWI) is a person with liquid financial assets above a certain threshold, typically $1 million.
Comprehensive definition of the term high-net-worth individual
In the financial industry, high-net-worth individuals (HNWIs) are often targeted by private banking and wealth management firms due to their substantial investable assets, which typically exceed $1 million. These individuals require specialized financial services, such as personalized investment strategies, estate planning, and tax optimization.
For example, HNWIs might have access to exclusive investment opportunities and tailored financial advice that caters to their complex financial needs and goals. The exact threshold to qualify as an HNWI can vary by institution and geography, but it generally signifies a significant level of financial affluence.