Tips for High Net-Worth Financial Planning in India

What Is High-Net-Worth Financial Planning?

4 Tips for High Net-Worth Financial Planning in India

What Is the Formula to Compute Net Worth?

How Is High-Net-Worth Financial Planning Different From Financial Planning?

Following are the differences between financial planning and high net-worth financial planning:


Financial Planning

High-Net-Worth Financial Planning


Formulating a financial strategy and trailing the same for achieving financial goals in the short-term and long-term is called financial planning.

High net-worth financial planning goes beyond general financial planning. It intends to formulate holistic financial strategies comprising investment planning, tax planning, insurance, and risk management to achieve the financial goal and accumulation of wealth for individuals having high net worth.


It is important because it helps people meet their financial commitments, gain financial security and save money for their post-retirement phase. In simpler terms, it takes care of goal-centric financial planning.

It is integral for affluent people to ensure financial protection, growth, and wealth accumulation over time. Precisely, it focuses on opportunity-centric financial management.

Focused Area

Financial planning for individuals involves cash-flow management, investment planning, debt management, retirement planning, risk management etc.

Financial planning for individuals having high net worth encompasses advanced investment planning, retirement planning, risk assessment and control, tax saving strategy building, preservation of wealth and finding ways to pass them on to their heirs, trust planning, and asset protection. It also includes philanthropic planning, life insurance and high-value insurance planning.

Management Procedure

You need to hire a financial manager who will evaluate the financial matters and needs, providing advice based on your income and financial goals. The financial planner also suggests asset allocation considering your risk profile.

Financial planning for high-net-worth people is a complex and comprehensive, process. Due to this, other than financial managers, it also requires professionals specialising in tax planning, estate planning, legal area, investment planning, insurance advisory and wealth management.

Now, you have a crystal-clear idea about high-net-worth financial planning, its difference from standard financial planning, and the tips for this advanced financial planning in India. So, if you fall under the category of high-net-worth individuals, make sure to go through these above tips with diligence and take expert assistance, if necessary.

FAQs about High-net-worth Financial Planning

What is the perfect time for financial planning in the case of high-net-worth individuals?

In general, there is no ideal time for high-net-worth financial planning. However, it is recommended by experts to start making a financial plan as early as possible. By doing so, you can thoroughly analyse your financial situation and decide accordingly.

What are the vital components of high net worth financial planning?


Some of the important components of high net-worth financial planning are as follows:

  • Income and capital gains tax planning
  • Wealth planning 
  • Estate planning
  • Retirement planning

How to protect my high net worth?


Individuals with a high net worth can manage assets efficiently by opting for the following:

  • Commercial liability insurance
  • Professional liability insurance
  • Directors’ and officers’ insurance
  • Personal umbrella insurance