“(Although) there are some investors who are more sophisticated and begin to invest in markets, a topic of financial education is needed so that they can have investments that give them higher returns and get out of fixed income such as Cetes and bonds,” said Christian Hauswaldt, general director of Invested, in an interview.
Although in 2022 and 2023 fixed income was a good alternative because the Cetes gave historical returns, that ended in 2024 with the reduction in rates. Banco de México (Banxico) began to reduce the rate last year; It is currently at 7.25% and is expected to close the year at 7%.
“Right now, even more so, we have to go out and look for other types of options, but there is a space for financial education,” Hauswaldt highlighted.
While high net worth people internationally usually allocate 45-55% to equities, 20-25% to bonds and between 10-20% to alternative assets such as private equity, institutional real estate or hedge funds, in Mexico there is a greater concentration in fixed income and real estate, that is, towards traditional debt.
“In Latin America – and particularly in Mexico – real assets such as real estate and private businesses predominate, reflecting a preference for the tangible and lower debt levels than in other markets,” the report highlights.
One of the impacts on the assets of these people is that while in developed countries like the United States it grows thanks to variable income, in Mexico it remains limited and Mexico has 4% of the world’s stock market against the United States, which has more than 30%.
In addition to a more moderate growth in assets, the specialist added that 80% of the people surveyed do not have a structured succession plan for the following generations, which also indicates that there is no support from financial institutions.
An example of the need for support that high-net-worth individuals have was the recent relaunch that Scotiabank made of its private banking.
The bank of Canadian origin seeks to manage the assets of people who have more than half a million pesos. Rodrigo Córdova, deputy general director of Wealth & Asset Management at Scotiabank Mexico, said in an interview that the wealth management business is growing at double digits.
Córdova reaffirmed that Mexicans focus their investments on fixed income, so with the relaunch of their private banking they seek to understand the profile of their clients and their investment range.
“What we are advising is the moment in which clients diversify towards capital instruments, both local and foreign,” he said.
For the bank, the idea is to promote diversification, but not by moving money from one place to another, but rather by creating a portfolio that has fixed income, capital and some alternatives that help maximize the risk-return of investment.
