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

Synopsis
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.

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 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

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.

Key Highlights
- HNWI population in Latin America including Brazil, Mexico, Chile, Colombia and Argentina grew by a CARG of 1.4% 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

Table Of Contents

Insight Report: Business Strategies for Targeting HNWIs and UHNWIs in Latin America
Table of Contents
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 13
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

List of Tables
Table 1: HNWI Wealth Band and Group Definitions
Table 2: Competitive Benchmarking for the Wealth Management Sector in Key Latin American Markets
Table 3: Key Parameters for the Wealth Management Sector in Latin America
Table 4: Overview of Strategies to Target HNWIs in Latin America
Table 5: HNWI Populations in Latin America, 2010-2019
Table 6: HNWI Wealth in Latin America (US$ Billion), 2010-2019
Table 7: UHNWI Market Size in Latin America, 2010-2019
Table 8: UHNWI Wealth in Latin America (US$ Billion), 2010-2019
Table 9: Top 10 HNWI Families in Latin America by Wealth (US$ Billion), 2014
Table 10: Status of FATCA Agreements of Latin American Countries with the US, October 2015
Table 11: Domestic Banks in Brazil and their Main Product and Service Offerings
Table 12: Domestic Banks in Mexico and their Main Product and Service Offerings
Table 13: Domestic banks in Chile and their Main Product and Service Offerings
Table 14: Alternative Investments in Colombia (US$ Billion), 2010-2019
Table 15: Domestic banks in Columbia and their Main Product and Service Offerings
Table 16: Domestic Banks in Argentina and their Main Product and Service Offerings
Table 17: Family Offices in Latin America
Table 18: Family Business Share by Country and Contribution to National GDP, 2012
Table 19: Key Factors Driving Growth in Multifamily Offices in Latin America
Table 20: Major Expansion Deals in Latin America, 2012-2015
Table 21: Internet Users in Latin America, 2014
Table 22: Key Examples of Event Sponsorship in Latin America

List of Figures
Figure 1: HNWI and UHNWI Populations, 2014
Figure 2: Latin American HNWI Populations by Age Group (%), 2014
Figure 3: HNWI Population by Gender, 2014
Figure 4: HNWI Population by Wealth Band, 2014
Figure 5: HNWI Population by Primary Source of Wealth, 2014
Figure 6: Latin American HNWI Populations by Industry Concentration (%), 2014
Figure 7: Currency Devaluation in Key Latin American Markets, 2014-2015

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