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Asia is now home to more high-net-worth, or HNW, individuals than any other continent.
FORBES: Wealth Management for China's Richest: An Industry With a Great Future
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The first-generation Chinese HNW individuals, being self-made, are confident of their business acumen, protective of their hard-earned wealth, and inclined to manage investments themselves rather than enlist the help of unfamiliar firms.
FORBES: Wealth Management for China's Richest: An Industry With a Great Future
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But before pursuing this audience, Western firms should first develop nuanced understandings of Lee and his suddenly wealthy peers, who collectively represent an HNW audience quite different from those found in the West.
FORBES: Wealth Management for China's Richest: An Industry With a Great Future
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Historically, high net worth (HNW) individuals and families supported the causes they cared about by giving money to nonprofit organizations, with the expectation that it would be used to generate certain social benefits feeding the hungry, preparing children for kindergarten or mitigating the effects of climate change on the environment.
FORBES: Philanthropy, Now Yielding Financial Returns