Brazil Family Office Market Report and Forecast 2024-2032

Brazil Family Office Market Size

The Brazil family office market reached approximately USD 807.39 million in 2023. The market is projected to grow at a CAGR of 7.8% between 2024 and 2032, reaching a value of around USD 1,587.28 million by 2032.

Brazil Family Office Market Outlook

• The UBS 2023 Global Wealth Report found that the number of millionaires in Brazil expanded from 293,000 individuals in 2021 to 413,000 in 2022, marking a 41% y-o-y growth.

• The Latin American Family Office Forum is scheduled to take place from November 6 to 8, 2024 in Miami, United States.

• The net worth of the typical billionaire in Latin America increased by 23% on the 2024 World's Billionaires list, resulting in a higher demand for family office services.

Brazil Family Office Market Growth

According to the 2024 World's Billionaires list by Forbes, there are 110 members in Latin America with a combined net worth of $530 billion, which is an increase from $413 billion in 2023. Among the wealthiest in Latin America, 63 individuals have seen their fortunes grow in recent months. Besides, Brazil gained 120,000 new millionaires in 2022, buoyed by the growth of the Brazilian economy by 2.4% and the appreciation of Brazilian currency against the US dollar by 5.3%.

The family office responsible for managing the wealth of Brazil's billionaire Moreira Salles family increased its assets under management to almost $11 billion. BW Gestao de Investimentos Ltda., one of Brazil's largest single-family offices, saw a 5.4 billion reais ($1.1 billion) increase in assets in 2023, benefiting from dividends generated by its banking and mining operations.

The growing population of Ultra-High-Net-Worth Individuals in Brazil is fuelling the demand for family office services. As families amass substantial wealth, the necessity for professional management and advisory services grows. The utilisation of fintech solutions for wealth management, financial planning, and reporting is increasing. These technologies improve efficiency, accuracy, and transparency in the management of family assets.

Brazil Family Office Industry Segmentation

“Brazil Family Office Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Single Family Office

• Multi-Family Office

• Virtual Family Office

Market Breakup by Application

• Bonds

• Equities

• Alternative Investments

• Commodities

• Cash Or Cash Equivalents

Market Breakup by Region

• São Paulo

• Minas Gerais

• Rio de Janeiro

• Bahia

• Rio Grande do Sul

Brazil Family Office Market Share

Based on type, the market is segmented into single family office, multi-family office, and virtual family office. The multi-family office sector is projected to grow at a CAGR of 8.7% during the forecast period of 2024-2032. A multi-family office is a specialised wealth management company that offers a diverse array of services to numerous wealthy families. They offer tailored asset allocation strategies to manage risk and maximise returns based on the unique goals and risk preferences of each family.

Leading Companies in the Brazil Family Office Market

Major players are focusing on digital transformation and diversification of investment portfolios to gain a competitive edge in the market.

• Turim 

• Pragma 

• BRITech SA 

• Oikos Wealth Management 

• Portofino Gestão de Recursos LTDA 

• Carpa Gestora De Recursos Ltda. 

• Vêneto Family Office 

• Others

Key Highlights of the Report