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China – The Future of HNWIs to 2015: Opportunities for Wealth Managers and Private Banks
© WealthInsight. This report is a licensed product and is not to be photocopied.
`-
Brazil – The Future of HNWIs
to 2016:
The Latin American Giant
Publication date: June, 2012
Report code: WI00048MR
TABLE OF CONTENTS
Brazil – The Future of HNWIs to 2016: The Latin American Giant
© WealthInsight. This report is a licensed product and is not to be photocopied. Page 1
TABLE OF CONTENTS
1 Introduction ............................................................................................................................ 8
1.1 What is this Report About? ............................................................................................................ 8
2 Executive Summary ............................................................................................................. 11
3 Wealth Management Fundamentals ................................................................................... 14
3.1 Political Background to Brazil ..................................................................................................... 14
3.2 Economic Background to Brazil .................................................................................................. 17
3.3 Benchmarking Brazil’s Wealth in Context ................................................................................... 19
3.3.1 Distribution of wealth ......................................................................................................................................... 19
4 Findings from the WealthInsight HNWI Database ............................................................. 22
4.1 Trends in HNWI Wealth to 2016 ................................................................................................... 22
4.1.1 HNWI trend analysis .......................................................................................................................................... 22
4.1.2 HNWI volume trend analysis ............................................................................................................................. 23
4.1.3 HNWI wealth trend analysis .............................................................................................................................. 24
4.1.4 Per capita HNWI trend analysis ........................................................................................................................ 25
4.1.5 Trends of the wealth bands ............................................................................................................................... 26
4.1.6 Demographic breakdown of HNWI .................................................................................................................... 28
4.2 UHNWIs ......................................................................................................................................... 29
4.2.1 UHNWI volume trend analysis .......................................................................................................................... 29
4.2.2 UHNWI wealth trend analysis ............................................................................................................................ 31
4.2.3 Demographic breakdown of UHNWIs ............................................................................................................... 32
4.2.4 UHNWIs – job titles ........................................................................................................................................... 33
4.2.5 UHNWIs – industry breakdown ......................................................................................................................... 34
4.2.6 UHNWIs – industry performance ....................................................................................................................... 35
4.2.7 UHNWIs – breakdown by city ............................................................................................................................ 36
4.2.8 UHNWIs – city performance .............................................................................................................................. 37
4.2.9 UHNWIs – city forecasts .................................................................................................................................... 39
4.3 UHNWIs – billionaires ................................................................................................................... 41
4.3.1 Billionaire volume trend analysis ....................................................................................................................... 42
4.3.2 Billionaire wealth trend analysis ........................................................................................................................ 42
4.3.3 Billionaire per capita net worth trend analysis ................................................................................................... 42
4.3.4 List of Billionaires ............................................................................................................................................... 43
4.4 UHNWIs – Centimillionaires ......................................................................................................... 44
4.4.1 Centimillionaire volume trend analysis .............................................................................................................. 45
4.4.2 Centimillionaire wealth trend analysis ............................................................................................................... 45
4.4.3 Centimillionaire per capita net worth trend analysis .......................................................................................... 45
4.5 UHNWIs – Affluent Millionaires .................................................................................................... 46
4.5.1 Affluent millionaire volume trend analysis ......................................................................................................... 47
4.5.2 Affluent millionaire wealth trend analysis .......................................................................................................... 47
4.5.3 Affluent millionaire per capita net worth trend analysis ..................................................................................... 47
TABLE OF CONTENTS
Brazil – The Future of HNWIs to 2016: The Latin American Giant
© WealthInsight. This report is a licensed product and is not to be photocopied. Page 2
4.6 Core HNWIs ................................................................................................................................... 48
4.6.1 Core HNWI volume trend analysis .................................................................................................................... 48
4.6.2 Core HNWI wealth trend analysis ..................................................................................................................... 48
4.7 Core HNWIs – Mid-Tier Millionaires ............................................................................................. 49
4.7.1 Mid-tier millionaire volume trend analysis ......................................................................................................... 50
4.7.2 Mid-tier millionaire wealth trend analysis ........................................................................................................... 50
4.7.3 Mid-tier millionaire per capita net worth trend analysis ..................................................................................... 50
4.8 Core HNWIs – Lower-Tier Millionaires ......................................................................................... 51
4.8.1 Lower-tier millionaire volume trend analysis ..................................................................................................... 51
4.8.2 Lower-tier millionaire wealth trend analysis....................................................................................................... 52
4.8.3 Lower-tier millionaire per capita net worth trend analysis ................................................................................. 52
5 Analysis of Brazilian HNWI Investments ............................................................................ 53
5.1 Analysis by Asset Class ............................................................................................................... 53
5.1.1 Changing trends in liquid assets (equity, fixed income and cash and deposits) ............................................... 55
5.1.2 Trends in alternative assets............................................................................................................................... 57
5.1.3 Trends in “Art, Wine and Wheels” ..................................................................................................................... 59
5.1.4 Trends of investments in real estate ................................................................................................................. 61
5.1.5 Trends of investments in cash and deposits ..................................................................................................... 65
5.1.6 Trends of investments in fixed income .............................................................................................................. 65
5.1.7 Trends of investments in equity ......................................................................................................................... 66
5.1.8 Trends of investments in business interest ....................................................................................................... 67
5.2 Analysis of Foreign Investments ................................................................................................. 68
5.2.1 Trend of investments in North America ............................................................................................................. 69
5.2.2 Trend of investments in Latin America and Caribbean ..................................................................................... 70
5.2.3 Trend of investments in Europe ........................................................................................................................ 70
5.2.4 Trend of investments in Asia-Pacific region ...................................................................................................... 70
5.3 Analysis of Brazilian UHNWI Investments .................................................................................. 71
6 The Wealth Sector in Brazil ................................................................................................. 73
6.1 Competitive Landscape ................................................................................................................ 73
6.1.1 Private banks ..................................................................................................................................................... 73
6.1.2 Wealth managers .............................................................................................................................................. 75
6.1.3 Wealth management in each city ...................................................................................................................... 76
6.1.4 Family offices ..................................................................................................................................................... 77
6.2 Brazil Wealth Management Industry – Clientele Model and Maturity ........................................ 79
6.3 Behavioral Mapping of Wealth Management and Private Banking Industry in Brazil .............. 80
6.4 Porter’s Five Force Analysis– Wealth Management Industry in Brazil ..................................... 81
6.5 Financial Services Review ........................................................................................................... 83
6.6 Case Study: Top-10 Global Private Banks .................................................................................. 85
7 Appendix ............................................................................................................................... 86
7.1 Regulatory Environment in Brazil ................................................................................................ 86
7.1.1 Banking regulations ........................................................................................................................................... 86
7.1.2 Regulations on Taxes ........................................................................................................................................ 86
TABLE OF CONTENTS
Brazil – The Future of HNWIs to 2016: The Latin American Giant
© WealthInsight. This report is a licensed product and is not to be photocopied. Page 3
7.1.3 Regulations on wealth management and private banking ................................................................................ 88
7.1.4 Regulations related to immigration, investment and employment..................................................................... 88
7.2 Social Background of Brazil......................................................................................................... 88
7.3 Key economic trends and drivers ................................................................................................ 89
7.3.1 LC to USD Exchange Rate ................................................................................................................................ 89
7.3.2 Real GDP growth ............................................................................................................................................... 90
7.3.3 GDP per capita .................................................................................................................................................. 91
7.3.4 Domestic market capitalization .......................................................................................................................... 92
7.3.5 Housing price indices ........................................................................................................................................ 93
7.3.6 Commodity index ............................................................................................................................................... 94
7.3.7 Foreign direct investment .................................................................................................................................. 95
7.3.8 Investments of FIIs in equity products ............................................................................................................... 96
7.3.9 Inflation rate ....................................................................................................................................................... 97
7.3.10 Interest rate ....................................................................................................................................................... 98
7.3.11 Balance of payments ......................................................................................................................................... 99
7.3.12 Government debt ............................................................................................................................................. 100
7.3.13 Stock market performance .............................................................................................................................. 101
7.3.14 HNWI wealth to GDP ratio ............................................................................................................................... 102
8 About WealthInsight .......................................................................................................... 105
TABLE OF CONTENTS
Brazil – The Future of HNWIs to 2016: The Latin American Giant
© WealthInsight. This report is a licensed product and is not to be photocopied. Page 4
LIST OF TABLES
Table 1: HNWI Wealth Band and Group Definitions .................................................................................................................................... 9
Table 2: Regions in Brazil ......................................................................................................................................................................... 15
Table 3: Largest 10 Cities in Brazil ............................................................................................................................................................ 16
Table 4: HNWIs – Volume Distribution Wealth Pyramid, 2011 ................................................................................................................... 26
Table 5: HNWIs – Wealth Distribution Wealth Pyramid (% Share), 2011 ................................................................................................... 27
Table 6: UHNWIs – Top Sectors for UHNWIs in Major Cities, 2011 ........................................................................................................... 34
Table 7: UHNWIs – Top 14 Brazilian Cities for UHNWIs, 2011 .................................................................................................................. 36
Table 8: UHNWIs – UHNWI population density in Major Cities, 2011 ........................................................................................................ 38
Table 9: UHNWIs – UHNWI Growth Rates for Top 14 Cities, 2007–2016 .................................................................................................. 40
Table 10: UHNWIs – Billionaires – Market Overview, 2007–2016 .............................................................................................................. 41
Table 11: Billionaire List, 2011 .................................................................................................................................................................. 43
Table 12: UHNWIs – Centimillionaires – Market Overview, 2007–2016 ..................................................................................................... 44
Table 13: UHNWIs – Affluent Millionaires – Market Overview, 2007–2016 ................................................................................................ 46
Table 14: Core HNWIs – Mid-Tier Millionaires – Market Overview, 2007–2016 ......................................................................................... 49
Table 15: Core HNWIs – Lower-Tier Millionaires – Market Overview, 2007–2016 ..................................................................................... 51
Table 16: HNWIs – HNWI Holdings Growth (%), 2007–2016 ..................................................................................................................... 54
Table 17: HNWIs – Liquid Asset Composition (%), 2007–2016 ................................................................................................................. 56
Table 18: HNWIs – Trends of Investments in Alternative Assets (%), 2007–2016 ..................................................................................... 58
Table 19: HNWIs – Alternative Asset Composition (%), 2007–2016 .......................................................................................................... 58
Table 20: HNWIs – Trends in “Art, Wine and Wheels”, 2007–2011 ........................................................................................................... 59
Table 21: HNWIs – Residential Real Estate Prices Per City, 2011 ............................................................................................................ 61
Table 22: HNWIs – Foreign Real Estate investment in Brazil, 2007–2016 ................................................................................................. 62
Table 23: HNWIs – Prime International Cities, 2007–2011 ........................................................................................................................ 63
Table 24: HNWIs – % Foreign Allocation, 2007–2016 – X Axis ................................................................................................................. 68
Table 25: UHNWIs – Allocations and Share of HNWI Assets, 2011 ........................................................................................................... 72
Table 26: Largest Private Banks in Brazil, 2011 ........................................................................................................................................ 74
Table 27: Emerging Private Banks in Brazil, 2011 ..................................................................................................................................... 74
Table 28: Wealth Manager Asset Allocation in Brazil, 2011 ....................................................................................................................... 75
Table 29: Wealth Management Companies Per-City, 2011 ....................................................................................................................... 76
Table 30: Family Offices in Brazil .............................................................................................................................................................. 78
Table 31: Top ten mutual-fund managers in Brazil, 2011 ........................................................................................................................... 83
Table 32: Top ten pension-fund managers in Brazil, 2011 ......................................................................................................................... 84
Table 33: Top-10 Private Equity Firms in Brazil, 2011 ............................................................................................................................... 84
Table 34: Top 10 Private Banks by Global AuM and New Money (US$ Billion), 2011 ................................................................................ 85
Table 35: LC to USD Exchange Rate, 2006–2016 ..................................................................................................................................... 89
Table 36: Real GDP Growth, 2006–2016 .................................................................................................................................................. 90
Table 37: GDP Per Capita, 2006–2016 ..................................................................................................................................................... 91
Table 38: Domestic Market Capitalization, 2006–2011 .............................................................................................................................. 92
Table 39: Housing Price Index, 2006–2011 ............................................................................................................................................... 93
Table 40: Commodity Indices, 2006–2016 ................................................................................................................................................ 94
Table 41: Foreign Direct Investments, 2006–2016 .................................................................................................................................... 95
Table 42: Investments of FIIs in Equity Products, 2006–2010 ................................................................................................................... 96
TABLE OF CONTENTS
Brazil – The Future of HNWIs to 2016: The Latin American Giant
© WealthInsight. This report is a licensed product and is not to be photocopied. Page 5
Table 43: Inflation Rate, 2006–2016 .......................................................................................................................................................... 97
Table 44: Money Market Rate, 2006–2016 ................................................................................................................................................ 98
Table 45: Balance of Payments, 2006–2011 ............................................................................................................................................. 99
Table 46: Government Debt to GDP, 2006–2016 .................................................................................................................................... 100
Table 47: Stock Market Performance, 2006–2011 ................................................................................................................................... 101
Table 48: HNWI Wealth vs. GDP Ratio, 2007–2016 ................................................................................................................................ 102
Table 49: Appendix One .......................................................................................................................................................................... 103
Table 50: Appendix Two .......................................................................................................................................................................... 104
TABLE OF CONTENTS
Brazil – The Future of HNWIs to 2016: The Latin American Giant
© WealthInsight. This report is a licensed product and is not to be photocopied. Page 6
LIST OF FIGURES
Figure 1: HNWI Wealth Band Definitions ................................................................................................................................................... 10
Figure 2: Asset Price Performance, 2007–2011 ........................................................................................................................................ 19
Figure 3: Brazilian HNWI Performance, 2007–2016 .................................................................................................................................. 20
Figure 4: HNWI – Brazil vs the World ........................................................................................................................................................ 21
Figure 5: HNWIs – Growth Factor Correlation, 2007–2011 ........................................................................................................................ 22
Figure 6: HNWIs – Volume by Wealth Band, 2007–2016 .......................................................................................................................... 23
Figure 7: HNWIs – Wealth by Wealth Band (in US$ Billion), 2007–2016 ................................................................................................... 24
Figure 8: HNWIs – Per Capita Net Worth (in US$ Million), 2007–2016 ...................................................................................................... 25
Figure 9: HNWIs – Volume Distribution Wealth Pyramid, 2011 .................................................................................................................. 26
Figure 10: HNWIs – Wealth Distribution Wealth Pyramid (% Share), 2011 ................................................................................................ 27
Figure 11: HNWIs – Age Distribution, 2011 ............................................................................................................................................... 28
Figure 12: UHNWIs – Wealth Share vs Volume Growth, 2007–2011 ......................................................................................................... 29
Figure 13: UHNWIs – Volume by Wealth Band, 2007–2016 ...................................................................................................................... 30
Figure 14: UHNWIs – Wealth by Wealth Band (in US$ Billion), 2007–2016 ............................................................................................... 31
Figure 15: UHNWIs – Age Distribution (% Share), 2011 ............................................................................................................................ 32
Figure 16: UHNWIs – Job Titles, 2007–2011............................................................................................................................................. 33
Figure 17: UHNWIs – Distribution by Industry, 2011 .................................................................................................................................. 34
Figure 18: UHNWIs – Sector Performance, 2007–2011 ............................................................................................................................ 35
Figure 19: UHNWIs – City Performance, 2007-2011 ................................................................................................................................. 37
Figure 20: UHNWIs – Regional Forecasts, 2011–2016 ............................................................................................................................. 39
Figure 21: UHNWIs – Billionaires – Market Overview, 2007–2016 ............................................................................................................ 41
Figure 22: UHNWIs – Centimillionaires – Market Overview, 2007–2016 .................................................................................................... 44
Figure 23: UHNWIs – Affluent Millionaires – Market Overview, 2007–2016 ............................................................................................... 46
Figure 24: Core HNWIs – Mid-Tier Millionaires – Market Overview, 2007–2016 ........................................................................................ 49
Figure 25: Core HNWIs – Lower-Tier Millionaires – Market Overview, 2007–2016 .................................................................................... 52
Figure 26: HNWIs – Asset Class Composition, 2007–2016 ....................................................................................................................... 53
Figure 27: HNWIs – Changing Trends in Total Liquid Assets (as a Percentage of Total Assets), 2007–2016 ............................................ 55
Figure 28: HNWIs – Trends of Investments in Alternative Assets (in US$ Billion), 2007–2016 .................................................................. 58
Figure 29: HNWIs – Trends in “Art, Wine and Wheels”, 2007–2011 .......................................................................................................... 59
Figure 30: HNWIs – Foreign Investment Allocation and Growth by Asset Class (%), 2011–2016 .............................................................. 68
Figure 31: HNWIs – Global Distribution of Foreign Investments, 2007–2016 ............................................................................................. 69
Figure 32: UHNWIs – Asset Class Composition, 2007–2016 ..................................................................................................................... 71
Figure 33: Wealth Management Industry in Brazil – Maturity Level of Players ........................................................................................... 79
Figure 34: Brazil Wealth Management Industry – Behavioral Mapping, 2011 ............................................................................................ 80
Figure 35: Wealth management industry in Brazil – Five Forces Analysis ................................................................................................. 81
Figure 36: LC to USD Exchange Rate, 2006–2016 ................................................................................................................................... 89
Figure 37: Real GDP Growth (%), 2006–2016 ........................................................................................................................................... 90
Figure 38: GDP Per Capita, 2006–2016 .................................................................................................................................................... 91
Figure 39: Domestic Market Capitalization, 2006–2011 ............................................................................................................................. 92
Figure 40: Housing Price Index, 2006–2011 .............................................................................................................................................. 93
Figure 41: Commodity Indices, 2006–2016 ............................................................................................................................................... 94
Figure 42: Foreign Direct Investments, 2006–2016 ................................................................................................................................... 95
TABLE OF CONTENTS
Brazil – The Future of HNWIs to 2016: The Latin American Giant
© WealthInsight. This report is a licensed product and is not to be photocopied. Page 7
Figure 43: Investments of FIIs in Equity Products, 2006–2010 .................................................................................................................. 96
Figure 44: Inflation Rate, 2006–2016 ........................................................................................................................................................ 97
Figure 45: Money Market Rate, 2006–2016 .............................................................................................................................................. 98
Figure 46: Balance of Payments, 2006–2011 ............................................................................................................................................ 99
Figure 47: Government Debt to GDP, 2006–2016 ................................................................................................................................... 100
Figure 48: Stock Market Performance, 2006–2011 .................................................................................................................................. 101
Figure 49: HNWI Wealth vs GDP Ratio, 2007–2016 ................................................................................................................................ 102
INTRODUCTION
Brazil – The Future of HNWIs to 2016: The Latin American Giant
© WealthInsight. This report is a licensed product and is not to be photocopied. Page 8
1 Introduction
1.1 What is this Report About?
This report is the result of WealthInsight’s extensive research covering the high net worth
individual (HNWI) population and wealth management market in Brazil.
It provides a market overview and forecast of the HNWI population and HNWI wealth across
asset classes. By utilizing the WealthInsight HNWI Database, it also provides information on
HNWI across demographic factors.
For the purposes of this report, the phrase “coverage period” refers to the period of 2007–2016,
while the “review period” relates to the years 2007–2011 and the “forecast period” relates to the
years 2011–2016.
This report categorizes the Brazilian HNWI population across five wealth bands that are defined
in Table 1, and analyzes HNWI wealth investments across asset classes and geographical
regions.
To provide a comprehensive analysis of HNWI wealth, wealth in this report is defined as the net
value of assets, which includes both financial holdings and tangible assets. Financial holdings
and tangible assets include alternative assets, real estate (excluding the primary residence),
cash and deposits, fixed-income, equities and business interests.
INTRODUCTION
Brazil – The Future of HNWIs to 2016: The Latin American Giant
© WealthInsight. This report is a licensed product and is not to be photocopied. Page 9
Table 1: HNWI Wealth Band and Group Definitions
Wealth Band Definition
Billionaires Billionaires are those HNWIs with wealth of US$1 billion or more, including equities, bonds, cash and deposits, fixed-income products, real estate, alternative assets and business interests.
Centimillionaires Centimillionaires are those HNWIs with wealth of between US$100 million and less than US$1 billion, including equities, bonds, cash and deposits, fixed-income products, real estate, alternative assets and business interests.
Affluent Millionaires
Affluent millionaires are those HNWIs with wealth of between US$30 million and less than US$100 million, including equities, bonds, cash and deposits, fixed-income products, real estate, alternative assets and business interests.
Mid-Tier Millionaires
Mid-tier millionaires are those HNWIs with wealth of between US$5 million and less than US$30 million, including equities, bonds, cash and deposits, fixed-income products, real estate, alternative assets and business interests.
Lower-Tier Millionaires
Lower-tier millionaires are those HNWIs with wealth of between US$1 million and less than US$5 million, including equities, bonds, cash and deposits, fixed-income products, real estate, alternative assets and business interests.
Wealth Group Definition
HNWIs The high net worth individuals (HNWIs) wealth group comprises all wealth bands. It represents those individuals with wealth of US$1 million or more, including equities, bonds, cash and deposits, fixed-income products, real estate, alternative assets and business interests.
UHNWIs
The ultra high net worth individuals (UHNWIs) wealth group comprises the billionaire, centimillionaire and affluent millionaire wealth bands. It represents those individuals with wealth of US$30 million or more, including equities, bonds, cash and deposits, fixed-income products, real estate, alternative assets and business interests.
Core HNWIs
The core HNWIs group comprises the mid-tier millionaire and lower-tier millionaire wealth bands. It represents those individuals with wealth of between US$1 million and less than US$30 million, including equities, bonds, cash and deposits, fixed-income products, real estate, alternative assets and business interests.
Source: WealthInsight © WealthInsight
INTRODUCTION
Brazil – The Future of HNWIs to 2016: The Latin American Giant
© WealthInsight. This report is a licensed product and is not to be photocopied. Page 10
Figure 1: HNWI Wealth Band Definitions
Source: WealthInsight © WealthInsight
ABOUT WEALTHINSIGHT
Brazil – The Future of HNWIs to 2016: The Latin American Giant
© WealthInsight. This report is a licensed product and is not to be photocopied. Page 11
2 About WealthInsight
WealthInsight provides detailed data and insightful analysis on the world's HNWI and wealth sector.
With decades of experience providing business information, WealthInsight helps organizations to make
informed decisions and win new business.
At WealthInsight's core is our proprietary HNWI Database of the world's wealthiest individuals. Around
this database we have built a number of valuable research-based products and services that make
WealthInsight much more than just a rich contact list.
We work with and provide solutions for:
Wealth managers
Private banks
Family offices
Technology providers
Professional services – consultants, accountants, lawyers and real estate professionals
Fund managers, hedge fund managers, asset managers, venture capitalists
Non-profit and educational institutions
WealthInsight’s corporate headquarters are located in London, with offices in New York, San Francisco,
Sydney, Seoul and Hong Kong.
For more information on WealthInsight please visit www.wealthinsight.com
Reports
WealthInsight publishes high-quality research reports focused on the wealth sector. The reports provide
comprehensive analysis of countries, regions and special topics.
With the HNWI Database as the foundation for its primary research and analysis, WealthInsight is able
to obtain an unsurpassed level of granularity, insight and authority on the HNWI universe in each of the
countries and regions covered.
All reports are available as a part of the WealthInsight Intelligence Centre. Reports can also be
purchased on a subscription or one-off basis.
Every WealthInsight report is uniquely formulated for the region, country or topic covered. Key features
of the reports include:
Market sizing
Forecasting
Benchmarking
HNWI asset allocation
Behavioral mapping
Family offices
ABOUT WEALTHINSIGHT
Brazil – The Future of HNWIs to 2016: The Latin American Giant
© WealthInsight. This report is a licensed product and is not to be photocopied. Page 12
Methodology
WealthInsight’s team of in-house analysts devise and collect data over a historical period of five years
and develop forecasts for a five-year forecast period. All WealthInsight Wealth Reports are rigorously
sourced and created according to a comprehensive methodological process:
Internal audit
Review of in-house databases to gather existing data:
Historic market databases and reports
HNWI Database
Wealth management, private bank and family office database
Financial deals and news archive
Secondary research
Collection of the latest market-specific data from a wide variety of industry sources:
Government statistics
Industry associations
Company filings
Broker reports
International organizations
Primary research
Review of the latest wealth management and private banking industry trends
Surveys using panels compiled from across the wealth sector:
Wealth management and private banking professionals
Financial services experts
High net worth individuals
Expert opinion
Collation of opinion taken from WealthInsight interviews of leading industry experts
Analysis of third-party opinion and forecasts:
Broker reports
Industry associations
Wealth management and private banking media
Official government sources
Leading academic research and commentary
Data consolidation and verification
Consolidation of data and opinion to create historical datasets
Creation of models to benchmark data across sectors, asset classes and geographies
Market forecasts
Feed of forecast data into market models:
Macroeconomic indicators
Industry-specific drivers
ABOUT WEALTHINSIGHT
Brazil – The Future of HNWIs to 2016: The Latin American Giant
© WealthInsight. This report is a licensed product and is not to be photocopied. Page 13
Analysis of the WealthInsight HNWI Database and Wealth sector company databases to
identify key trends:
Latest wealth trends
Key drivers of the wealth management industry
Report writing
Analysis of market data
Discussion of company and industry trends and issues
Integration of survey results
Annual review of financial deals and wealth management trends
Standardization of market definitions using recognized industry classifications
Quality control
Peer review
Senior-level QC
Random spot checks on data integrity
Benchmark checks across databases
Market data cross-checked for consistency with accumulated data from:
Internal databases
Company filings
Notable contributors to this report:
Andrew Amoils
Senior Analyst and Head of Reports Team, WealthInsight
Shekhar Tripathi
Senior Analyst, WealthInsight
Sunil Kumar Agarwal
Analyst, WealthInsight