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Brazilian wealth management industry to prosper in the coming years

Mumbai, India – June 30, 2014 – From a population of 201 million, 4000 people were categorized as high net worth individuals in Brazil in 2013 alone. Brazil holds the record of being the leading economy in Latin America with the most number of ultra-high net worth individuals and factors like wealth creation, GDP growth, and initial public offerings of Brazilian firms driving the Brazil wealth management industry.

This report: Brazil 2014 Wealth Book provides intensive research covering the high net worth individual (HNWI) population and wealth management market in Brazil. The report analyzes the wealth management market in the country and highlights the key factors driving the economy.

Market trends

As of 2013 there were 191,703 HNWIs in Brazil, together holding a total of USD $966 billion in wealth. This was a fall from the initial years’ numbers by 1.3% which was mainly due to a few setbacks that the country faced which included complexities like inflation, trade deficit and low GDP growth as well as frequent anti-government protests that plagued the country. During this time Brazilian multimillionaire Eike Batista lost more than USD 20 billion, holding the non-official record of being the single largest loss of personal wealth for 2012. The wealth management industry is mainly driven by a high interest from domestic players who are looking to strengthen their position, as well as foreign players who are looking to expand. Foreign firms have encountered strong competition from local firms; besides red-tapism has been responsible for stalling activity and thwarting growth.

 

Key players

Participants in the Brazilian wealth management industry operate one of three different business models: an integrated private bank, an asset manager, or a brokerage. The leading competitors include Bradesco Private Bank, Lerosa Investimentos, Santander Private Banking and Verus Gestão de Patrimônio, which dominate the market driving the market trends.

 

Key opportunities

At the end of 2013, Brazilian HNWIs held 22.6% (USD 219 billion) of their wealth outside their home country, which is in tune with the global average of 20-30%. Growth in HNWI wealth and volumes is set to improve over the forecast period reaching stellar heights by 2018. The number of Brazilian HNWIs is expected to grow by 17% to reach 233,837 by 2018, and HNWI wealth is expected to grow by 27% to reach USD 1.32 trillion by 2018.

 

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