Insight Report: Business Strategies for Targeting HNWIs and UHNWIs in Latin America

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Published: January 19, 2016 Report Code: WI0021FR-ST

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Latin America has one of the world’s fastest-growing HNWI populations. The combined HNWI population in Brazil, Mexico, Chile, Colombia and Argentina is more than double that of the GCC countries of the UAE, Saudi Arabia, Kuwait, Qatar, Oman and Bahrain. In 2014, there were around 186,000 HNWIs in the GCC countries, while the Latin American countries listed housed 463,000 HNWIs. This represents significant opportunities for private banks and wealth managers to offer both onshore and offshore investments services.
However, macro-economic uncertainties – including currency depreciation, recession in Brazil, recent international banks closing regional branches including HSBC and Deutsche Bank in 2015, slumps in oil and commodity prices and the Chinese economic slowdown – have all to some extent diverted offshore investments to the US, causing banks to adjust services accordingly.
Regulatory disparities also create complexities in private banking and wealth management in Latin America. It is therefore important for private banks and wealth managers to recognize the ‘new wave’ of private banking and wealth management in Latin America. This report provides an in-depth market analysis and strategies for targeting HNWIs and UHNWIs in the region.

Scope

The report covers the following areas:

• Attitudes of Wealth Managers and Private Banks to Targeting Latin American HNWIs and UHNWIs

• Market Snapshot of the Latin American HNWI and UHNWI Markets covering Brazil, Mexico, Chile, Colombia and Argentina

• Business Strategies for Targeting HNWIs and UHNWIs in Latin America

Key Highlights

• HNWI population in Latin America – including Brazil, Mexico, Chile, Colombia and Argentina – grew by a CAGR of 1.4%, going from 438,753 individuals in 2010 to 463,143 individuals in 2014, and is projected to grow by a CAGR of 3.2% to exceed 530,000 by 2019.

• Chile’s HNWI population is one of the fastest growing in the region, recording a forecast compound annual growth rate (CAGR) of 4.8% between 2015 and 2019.

• Real estate and bonds are popular investment options for Latin American HNWIs and UHNWIs.

• Both single- and multi-family offices are likely to grow in Latin America, while online investment platforms are still emerging.

• Private banks and wealth managers increasingly use event sponsorship to raise brand awareness

Reasons to Buy

• Understand the needs of Latin American HNWIs and UHNWIs, their demographic trends and key regulatory issues facing wealth advisors.

• Be informed about drivers, barriers and key financial products and services offerings in Brazil, Mexico, Argentina, Colombia and Chile and address each trend accordingly.

• Be aware of the attitudes of private banks and wealth managers towards future outlook of Latin American Wealth Management Market.

• Build robust business strategies with respect to expansion strategy, client strategy and marketing strategy to target Latin American HNWIs and UHNWIs more effectively.

Banamex
BBVA Bancomer
Banco de Crédito e Inversiones
BancoPenta
Banco Santander
Banco Bradesco
Itau Unibanco
ESP Properties
HSBC
Deutsche Bank
WE Family Offices
JP Morgan Chase & Co.
ABN Amro
Forbes
Transparency international
RBC
Barclays
Credit Suisse
Banco Azteca
Banco Monex
Banorte
Grupo Financiero Multiva
Banco Safra
First National Santa Fe
BancoItau Argentina
BBVA Banco Frances
Black Rock
Vanguard Group
Franklin Templeton
Aberdeen Asset Management
Investec
Banco de Crédito e Inversiones
Banco de Chile
Banco Santander Chile
Banco CorpBanca
Banco de Bogotá
Popular Banca Privada
Banco de Bogotá
Colombian Central Bank
Grupo Bancolombia
UBS
BTG Pactual
Citibank
Turim Family Office and Investment Management
Pivos Capital
Consenso
Promecap
Bancredito Private Banking
Avante Financial Group
Morning View Partners
Lugen Family Office
Drake Family Office
Picton Advisors
Verax Wealth management
Financial Times
Banco CR2
Julius Baer
GPS Investimentos Financeiro
Sumitomo Mitsui Banking Corporation
Financiera de Desarollo Nacional S.A
BSI AS
Claro SA
Grupo Financiero Inbursa SAB
Banco Standard de Investimentos
Banco Indusval SA
Banco Intercap SA
Munita
Cruzat & Claro SA
The Starr Group
Dazhong Insurance Co.
Ltd
Atralpo SL
Kranos Capital
Liberty Seguros Argentina
Standard Chartered
American Express.

Table of Contents

Executive Summary

1 Introduction

1.1 What is this Report About?

1.2 Definitions and Scope

2 Attitudes of Wealth Managers and Private Banks to Targeting HNWIs and UHNWIs in Latin America

2.1 Key Insights into Latin American HNWI and UHNWI Investment Behavior

2.2 Economic Outlook of the Latin American Wealth Management Market

3 Snapshot of Latin American HNWI and UHNWI Markets

3.1 A Comparison of Business Strategies for Targeting HNWIs and UHNWIs in Latin America

3.2 Latin America’s HNWI and UHNWI Market Sizes and Key Market Trends

3.3 HNWI and UHNWI Demographic Trends

3.4 Drivers and Barriers of the HNWI and UHNWI Markets

3.4.1 Drivers

3.4.2 Barriers

3.5 The Regulatory Landscape

4 Latin American Markets: Mexico, Brazil, Argentina, Chile and Columbia

4.1 Financial Product and Service Offerings

4.1.1 Brazil

4.1.2 Mexico

4.1.3 Chile

4.1.4 Colombia

4.1.5 Argentina

4.2 The Role of Family Offices: Managing HNWI and UHNWI Wealth

4.3 Business Strategies for Targeting HNWIs and UHNWIs

4.3.1 Expansion strategy

4.3.2 Client strategy

4.3.3 Marketing strategy

5 About WealthInsight

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