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Latin America market has been witnessing traditionally Private banks their major player in channelizing the wealth of most of the retail investors but with decrease in the interest rates and growth of the middle-class investor, the retail investors began opting the other alternatives investment so the share of private banks in total asset management of Latin America slowed down. The three big economies of Latin America: Brazil, Mexico and Chile contribute for more than 87.5% of asset under management for the year 2018. The Asset under Management (AuM) has most of the assets remaining in the form of Mutual fund and is expected to increase double digit rate through out the forecast period.
The majority of AuM are managed by the large private Banks but with the increase in the wealth of the wealthy families the number of Family offices managing their money is also increasing. In 2018, there were 206 family offices in Chile managing the wealth of USD 52 billion. Similar trend for Family offices is also seen in Mexico as family business accounts for 70% of the total GDP of the country.
In 2020, COVID-19 hit the Latin America Wealgth Managemenet Market badly. This was the year of devastating coronavirus pandemic, the impact of lockdown forced the economy to go downward. Despite the pandemic the global wealth increased for the year. Global high net worth individual (HNWI) population and financial wealth increased by 6.3% and 7.6% respectively. The unprecedented stock market gains in key market increased the HNWI wealth. Similar scenario was seen in the Latin America Wealth market. Although the HNWI population decreased by 4% the wealth of HNWI increased by 0.5%.
Scope of the report
The Latin AmericaWealth Management is one of the growing and highly in demanded Wealth Management Market as the people are more preferring the AuM from technology driven and innovative platforms for which the latin America wealth management firms are found much efficient. A complete background analysis of the Latin America Wealth Management Market, which includes an assessment of the economy, market overview, market size estimation for key segments, and emerging trends in the market, market dynamics, and key company profiles are covered in the report. The Latin America Wealth Management Market is Segmented By Client Type (HNWI, Retail/ Individuals, Mass Affluent and Others), By Wealth Management Firm Type (Private Bankers, Family Offices and Others) and By Geography (Brazil, Chile, Peru, Colombia and Rest of Latin America). The market sizing and forecasts have been done on the basis of value (USD million).
|By Client Type|
|By Wealth Management Firm Type|
|Rest of Latin America|
Key Market Trends
Growing Middle Class Population Income Witnessing Growth in Latin America Wealth Management Market
The income of middle class population which is including the mazimum portion of Latin America population is having the growing income and also the youth is getting attracted towards various investment opoortunities instead of keeping money in savings account only because of many digital innovations and platforms for AuM. The growing middle-class population with increased median income provides huge opportunity for the wealth managers. This untapped population is expected to further increase the size of the wealth management market in Latin America.
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HNWI Client Type Increasing Wealth Signifying Growth in Latin America Wealth Management Market
In 2020, the wealth for HNWI in Latin America increased by 0.5 % similar increase was seen in the total wealth of the region. This increased wealth relates to increase in demand for the wealth management products and services in the region. This increase is signifying there is growing wealth management market in Latin America and will remain showinh upward trend through out the forecast period.
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The Latin America Wealth Management Market is growing and highly competitive across the different countries like Brazil, Columbia, Peru of Latin America offering a huge number of competitive players dominating the market, nowadays grabbing market more powerfully by the mergers and acquisitions and traditional investment opportunities are led by Brazil Market has made the Latin America Wealth Management Market very competitive and strong. International chains and their brands such as Credit Suisse, Morgan Stanley are widely famous and leading the market. Latin America groups such as BTG PActual, Bradesco have been focusing on technology innovations and offering more platforms for wealth management, thus, leading the Latin America Wealth Management Market from past long time.
In 2021, BTG Pactual has hired a private banker for its Miami wealth management business from Swiss private bank Credit Suisse. Leonardo Brayner joined the Brazilian group after having spent 11 years at Credit Suisse’s offices in The Bahamas, where he most recently served as a vice president of wealth management on its client service desk.
In 2021, Credit Suisse made a USD 400 million cash distribution, in line with its announcement that Credit Suisse will repay some of the money from the closed Greensill supply chain funds. The money will be paid to the investors in the bank’s Virtuoso SICAV-SIF funds. Credit Suisse’s four Virtuoso SICAV-SIF funds invested in the supply chain funds.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of Study
2. RESEARCH METHODOLOGY
3. EXCEUTIVE SUMMARY
4. MARKET INSIGHTS AND DYNAMICS
4.1 Market Overview
4.1.1 Number of HNWIs and their Wealth in Latin America, Over the Years
4.1.2 Insight on the predominant presence of family business in the region- from Wealth Management Perspective
4.2 Market Drivers
4.3 Market Restraints
4.4 Technological Advancement Shaping the Wealth Management Landscape in the Region
4.4.1 Insights on Digital Platform and their Adoption Levels across the Value Chain Wealth Management in the Region
4.4.2 Adoption of New Age Digital Platforms by Millenials
4.4.3 Insights on Robo Advisors and the other applications of Artificial Intelligence techniques in Wealth Management Industry
4.5 Porter's Five Forces Analysis
4.5.1 Threat of New Entrant
4.5.2 Bargaining Power of Buyers/ Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Product
4.5.5 Intensity of Competitive Rivalry
4.6 Intensity on Industry Policiesand Regulations impacting the Wealth Management Industry of Latin America
4.7 Insights into Alternative Assets Considered for Financial Planning By Wealth Managers in the Region
4.7.1 Prominence of ESG Investing Among HNWIs in the region
4.7.2 Insight into the infrastructure Related Needs of the Region that Drive the investment patterns of HNWIs
4.8 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Client Type
5.1.2 Retail/ Individuals
5.1.3 Mass Affluent
5.2 By Wealth Management Firm Type
5.2.1 Private Bankers
5.2.2 Family Offices
5.3 By Geography
5.3.5 Rest of Latin America
6. COMPETITIVE LANDSCAPE
6.1 Market Competition Overvier and Integration/ Competition with Tradional Financial Services Companies
*List Not Exhaustive
6.1.1 Company Profiles
126.96.36.199 Credit Suisse
188.8.131.52 BTG Pactual
184.108.40.206 Itau Private Bank
220.127.116.11 Citi Wealth Management
18.104.22.168 Morgan Stanley Private Banking
22.214.171.124 3G Capital
126.96.36.199 BBVA Bancomer
188.8.131.52 Other Key Private Banks and Family Offices
7. FUTURE OF THE MARKET
8. DISCLAIMER & ABOUT US
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Frequently Asked Questions
What is the study period of this market?
The Latin America Wealth Management Market market is studied from 2018 - 2027.
What is the growth rate of Latin America Wealth Management Market?
The Latin America Wealth Management Market is growing at a CAGR of 2.3% over the next 5 years.
Who are the key players in Latin America Wealth Management Market?
Credit Suisse, BTG Pactual, Morgan Stanley, Bradesco, BBVA Bancomer are the major companies operating in Latin America Wealth Management Market.