A significant number of India’s high-net-worth individuals (HNIs) are demonstrating a lack of financial discipline and structured planning, despite their increasing affluence and aspirations, according to the India Wealth Survey 2025. The survey, conducted by Marcellus Investment Managers in collaboration with Dun & Bradstreet, covered 465 households across 28 cities. It alarmingly revealed that 43% of these HNIs save less than 20% of their post-tax income, even as they harbor ambitions for early retirement, entrepreneurial ventures, and securing financial stability for their children.

The survey further highlighted prevalent issues in financial management among India's wealthy. For instance, 14% of respondents do not maintain an emergency fund, a crucial component of financial security. Additionally, there's a strong preference for physical assets, with over half of the HNIs allocating more than 20% of their wealth to real estate. This inclination persists despite a growing awareness of market-linked investments and their potential benefits.

The report uncovers a striking disconnect between ambition and practical financial action. While a vast majority (82%) of HNIs believe that professional financial planning significantly improves their chances of meeting long-term goals, a substantial number continue to operate without adequate diversification in their portfolios or a tailored asset allocation strategy. This indicates a gap between recognizing the value of expert advice and implementing it effectively.

Delving deeper into specific segments, among households with net worths exceeding Rs 10 crore, 63% manage to save over 30% of their income. However, their investment patterns show continued conservatism or specific preferences: only 17% allocate more than 30% of their wealth to equities. In contrast, 48% of this group park more than 30% of their funds in real estate, and 65% allocate between 10-20% to traditional assets like gold and silver.

Pramod Gubbi, Co-Founder of Marcellus Investment Managers, emphasized the importance of fundamental financial practices. “Financial discipline and thoughtful asset allocation are the cornerstones of a solid financial foundation, essential for fulfilling future goals,” he stated. Gubbi also noted a positive trend, observing that “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 found that while 76% of ultra-HNIs are aware of the investment corpus required for a comfortable retirement, many still grapple with low diversification in their investments. Highlighting their needs, 51% of HNIs expressed a desire for more assistance with diversification strategies, 38% sought personalised asset allocation plans, and 32% were looking for comprehensive goal planning support from financial advisors.

Saurabh Mukherjea, Co-Founder of Marcellus Investment Managers, commented on the evolving mindset: "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."

Echoing this sentiment, Manish Hemnani, Co-Founder of Marcellus Investment Managers, suggested that the wealth management landscape is shifting. “It’s no longer about standard products or investment returns; it’s about tailored solutions and relationships built on transparency and trust,” he remarked. This points towards a demand for more personalized and trust-centric advisory services.

In conclusion, the Marcellus–D&B Wealth Survey 2025 suggests that India’s evolving wealthy class is at an inflection point. As the number of affluent Indian households continues to grow, the need for goal-driven, transparent financial advisory services is expected to deepen. The findings indicate a maturing wealth mindset—one that is increasingly ready to replace instinctive financial behaviour with intentional, professionally guided planning to achieve long-term financial well-being.