43% of Indian HNIs save less than 20% of their income, says Marcellus–D&B Wealth 2025 survey

A significant proportion of India’s high-net-worth individuals (HNIs) are falling short on financial discipline and structured planning despite their rising affluence and ambitions, according to a new survey released by Marcellus Investment Managers in collaboration with Dun & Bradstreet on Wednesday.

The India Wealth Survey 2025, which covered 465 households across 28 cities, found that 43% of HNIs save less than 20% of their post-tax income, even as they aim for early retirement, entrepreneurship, and financial security for their children. Moreover, 14% of respondents do not maintain an emergency fund, and over half allocate more than 20% of their wealth to real estate, highlighting a heavy preference for physical assets despite increasing awareness of market-linked investments.

A shift towards goal-oriented investing

The report reveals a striking disconnect between ambition and action among India’s wealthy. While 82% believe professional financial planning improves their chances of meeting long-term goals, a majority continue to operate without sufficient diversification or tailored asset allocation. For instance, among households with net worths above Rs 10 crore, 63% save over 30% of their income, yet only 17% allocate more than 30% to equities. Meanwhile, 48% park more than 30% in real estate and 65% allocate 10-20% to gold and silver.

“Financial discipline and thoughtful asset allocation are the cornerstones of a solid financial foundation, essential for fulfilling future goals,” said Pramod Gubbi, Co-Founder, Marcellus Investment Managers. “India’s HNIs are no longer passive; they’re seeking a structured approach and professional assistance to help realise their life goals.”

The study also showed that 76% of ultra-HNIs are aware of the investment corpus required for a comfortable retirement, yet many still struggle with low diversification. About 51% of HNIs said they wanted more help with diversification, 38% sought personalised asset allocation, and 32% were looking for goal planning support.

The case for advisory-led wealth management

Saurabh Mukherjea, Co-Founder, Marcellus Investment Managers, commented: “As India steps confidently onto the global economic stage, its wealthy households are embracing greater sophistication and clarity in their financial journeys. They are seeking expert guidance, not just to manage their wealth, but to bring structure, discipline, and purpose to their long-term financial aspirations.”

The survey suggests that India’s evolving wealthy class is at an inflection point. “It’s no longer about standard products or investment returns; it’s about tailored solutions and relationships built on transparency and trust,” said Manish Hemnani, Co-Founder, Marcellus Investment Managers.As the number of affluent Indian households grows, the need for goal-driven, transparent financial advisory services will likely deepen. The Marcellus–D&B Wealth Survey 2025 points to a maturing wealth mindset—one that’s ready to replace instinctive financial behaviour with intentional, professionally guided planning.Also read | Rs 43,000 crore selloff by promoters! Insider exits flash warning sign for Nifty bulls
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