A high-net-worth individual classification generally qualifies for separately managed investment accounts instead of regular mutual funds.

High-net-worth individual (HNWI) is a classification used by the financial services industry to denote an individual or a family with liquid assets above a certain figure. The exact amount differs by financial institution and region but could range from people with a net wealth of 6- to 7- or more figures.

HNWIs are in high demand by private wealth managers. The more money a person has, the more work it takes to maintain and preserve those assets. These individuals generally demand (and can justify) personalized services in investment management, estate planning, tax planning, and so on.