A high-net-worth individual (HNWI) is a person with a high net worth . In the private banking business, these individuals typically are defined as having investable assets (financial assets not including primary residence) in excess of US$1 million. As explained below, the U.S. Securities and Exchange Commission has promulgated a different definition of "high net worth individual" for regulatory purposes. World’s Wealth Report 2011
The Merril- lynch – Capgemini World’s Wealth Report 2009 defines HNWIs as those who hold at least US$1 million in financial assets and ultra-HNWIs as those who hold at least US$30 million in financial assets, with both excluding collectibles, consumables, consumer durables and primary residences. The report states that in 2008 there were 8.6 million HNWIs worldwide, a decline of 14.9% from 2007. The total HNWI wealth worldwide totaled US$32.8 trillion, a 19.5% decrease from 2007. The ultra-HNWIs experienced the greater loss, losing 24.6% in population size and 23.9% in accumulated wealth. The report revised its 2007 projections that HNWI financial wealth would reach US$59.1 trillion by 2012 and revised this downward to a 2013 HNWI wealth valued at $48.5 trillion advancing at an annual rate of 8.1% Ultra high net worth individuals
Ultra high net worth individuals (UHNWIs) are individuals or families who have, by one definition, at least US$30 million in investable assets, or with a disposable income of more than US$20 million. The exact dividing lines depend on how a bank wishes to segment its market; for example, the term "very high net worth individuals" can refer to those with assets between $5 million and $50 million, with ultra high net worth individuals only those with above $50 million. Growth of HNI’s in India
India’s population of high net worth individuals (HNIs) has become one of the largest in the world. In 2010, we were 12th in the global list, replacing Spain.According to a World Wealth Report by Merrill...