High net worth individuals (HNWIs) tend to have complex financial portfolios and need special services to organize, manage and grow their assets. Services like these typically fall under the category of VIP private banking, which is a thriving industry. In 2015, private banks managed $15.5 trillion in client assets, according to the Scorpio Partnership Global Private Banking Benchmark 2016.
The VIP treatment is usually given to people with investable assets of at least $1 million, though thresholds vary by bank.
