It’s new year, and business entities should put new business targets.
Actinver targets clients looking to invest between 100,000 pesos ($7,600) and MXN10 million, below the $1 million minimum set by several global wealth-management firms. The latest analyzed advised that Actinver sees opportunities to grow its assets as the wealth-management sector consolidates in Mexico. This year, Actinver aims to open additional branches–currently it runs more than 80–while also rolling out debit cards and check books.
Actinver is a Mexico-based private bank that began operations in 1994 as a mutual-fund manager.
“There are a lot of people with this amount of money, and we think we can give them a differentiated service,” said Pablo Riveroll, Actinver’s chief financial officer, in an interview with Dow Jones Newswires, cited by WSJ.
WSJ writes that Actinver’s focus on wealth management means higher costs compared with retail banking, as personal financial advisers demand more salary and attention than do, say, bank tellers. The firm expects that the peso will find equilibrium below MXN13 to the dollar by year-end, and Actinver is advising clients to switch holdings into the Mexican currency.