1. Can you tell us a Little about what is wealth manangement.
Wealth management is the consultative process of meeting the needs and wants of affluent clients by providing the appropriate financial products and services. Private Wealth Management provides customized financial and banking services to private individuals with a minimum net worth. A bank’s private banking division offers select investment advice to wealthy clients on protecting and growing their present assets, tax planning, retirement planning, passing on wealth, and philanthropy.
2. Can you tell us a Little about Family Offices?
The simplest definition of a family office is an organization that assumes the day-today administration and management of a family’s affairs. To that end, to honestly call itself a family office, an organization needs to provide more that just the standard wealth management functions. Most people in the industry would agree that a family office should be able to provide for tax compliance work, access to private banking and private trust services, document management and recordkeeping services, expense management, bill paying, bookkeeping services, family member financial education, family support services, and family governance.
3. Can you tell us about Privet Wealth Group?
The Private Wealth Group at Markets Group specializes in bringing together family offices, private Banks, asset managers, tax trust and estate professionals, legal, accounting, insurance and philanthropy to educate on the issues of wealth protection and asset growth.
4. What are the primary objetives of the Privet Wealth Group?
The primary objective of the Private Wealth Group is to develop a dialogue between experts in this industry to help create a discussion that is beneficial to helping those that work with the HNW individual.
5. As your representative of Latin America, such as visualizing the market currently?
We see the markets in Latin America growing and looking for more Solutions to help their clients.
6. What is your perception of business in Mexico compared to other countries such as Panama and Brazil?
The LatAm wealth market in Mexico is very robust and we are seeing a large increase in the growth of the onshore domestic business from both Mexican and NON Mexican private Banks, Broker Dealers and Family Offices & RIA’S. Also the offshore business for bankers who cover HNW clients who are based in Mexico is extremely active. These bankers could be based in Miami, NY, Geneva, Panama or Bahamas. Brazil & Mexico are similar in the sense that they focus on domestic clients who are housed in those 2 countries. In Panama the clientele is focused on offshore and Panama City is giving Miami a good run for its money in becoming the hub for the offshore LatAm wealth business. We had a very successful conference in Panama City in February and look forward to returning there next year. In general we are seeing a shift from the large well known private Banks & Broker Dealers either leaving the offshore market such and at the same time the number of smaller institutions and advisory firms are becoming more prevalent in the market. It really is an evolutionary process going from “big box” Walmart to the “mom & pop” or specialty which smaller firms can provide to its clients.
7. We know that this last month of June was in Mexico City The “Privete Wealth Mexico Forum 2015”, can you tell us aLittle bit about what were the results of this event?
The event was a launch in the private wealth series and received great comments on the content of the panels and the level of its participants.
8. ¿The will be more events in the rest of the year?
Our next forum will be the Private Wealth Latin America and the Caribbean Forum held at the JW Marriott Hotel in Miami on October 20th and 21st.
9. Any message you want to give to our readers?
Please join us in the conversation at our forums and gain deeper insight into the region.
Mr. Browne is Head of the Latam Private Wealth Group and manages the series of Markets Group Latin American private wealth focused forums.
Prior to Markets Group, Mr. Browne was an emerging markets sales trader across multiple asset classes at Planner Securities, a
Brazilian broker dealer in NYC. His experience
in connecting international clients to the Latin American markets space has given him unique insight into the connectivity, trading, and
regulatory issues of broker dealers, hedge funds, institutional investors and technology firms entering emerging markets and how best access these markets.
Before that he was a fixed income broker at O’Brien & Sheppard, as well as a trader for PaineWebber’s Wealth Management Private Client Group where he focused on fixed income asset allocation. Mr. Browne has a BBA in Finance from Loyola University in Baltimore. He holds a series 7, 53 and has held a series 63. Additionally, Mr. Browne is proficient in Portuguese. Mr. Browne may be contacted for participation in all Latam Private Wealth Forums.