Want to see if you fall into the high-net-worth category? Calculating your net worth is pretty simple. In addition, banks and investment management firms typically specify account minimums that make HNWIs eligible for more personal, specialized client services.
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The more liquid assets held by an individual or household, the more appealing the HNWI becomes to wealth managers, given they usually earn fees equal to a percentage of the total assets they manage. Financial services for HNWIs include investment management and tax advice as well as help with trusts and estates and access to hedge funds and private equity firms. Given their substantial assets, high-net-worth households require additional services from financial advisors and wealth managers.
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