High networh individuals are people with signifcant financial assets, often exceeding certain threshold such as millions or billions of dollars.
They include entrepreneurs. business executives, investors, celebrities, heirs to substantial fortunes and individuals with substantial financial resources.
They manage their wealth through a variety of strategies. They diversify their investments accross different asset classes. They usually take the advise of professionals. These advisors help them to develop a comprehensive investment plans. They usually do their asset allocation according to their financial objectives. They have growth oriented investments for long term and also income generating assets to meet their short term needs, They follow sophisticated risk management systems and tax planning They want to give back to society a part of their earnings. To meet that end they create donor advised funds and charitable foundations.
Wealth management is an ongoing process and they keep themselves informed about market trends, economic development and regularatory changes.