Latin America Business Strategies for Targeting Hnwis and Uhnwis Latest Insight Report

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This report provides insights into Latin American wealth management market. It firstly looks at the market size of HNWIs and UHNWIs in Latin America, alongside demographic trends, and drivers of, and barriers to, the HNWI and UHNWI markets. It also identifies key regulatory issues facing wealth advisors. The report’s main chapter examines financial product and service offerings in Latin America, highlights the role of family offices, and outlines business strategies for targeting HNWIs and UHNWIs, such as expansion, client and marketing strategies. The report’s review period is 2010–2014, and the forecast period is 2015–2019.

It uses WealthInsight’s proprietary HNWI database comprising over 120,000 individuals.

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Summary

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...