July 31, 2019 |
Financial advice is just a mouse click away. Mutual funds are increasingly available —some with initial investments of just $50. And private banks that offer personalized customer service are beefing up staff. These are some of the most visible signs of the growing competition among financial firms—domestic and global—as they jockey for a piece of the wealth management business in Latin America.
To be sure, the region lags the pace of wealth generation in Asia and accounts for only a sliver of the $63.1 trillion in investable assets worldwide. But consultancy EY estimates that net investable assets in Latin America will grow 4.5% through 2021 to $3.3 trillion.
That’s a growth rate equal to
Local and global competitors are positioning themselves to cater to investors seeking enhanced opportunities