Succession planning and wealth transfer can be some of the most valuable yet challenging services private banks provide. This makes it all the more important that clients feel they have a firm with the insight and expertise to help them navigate a generational handover. Santander Private Banking Brazil has spent more than two decades helping ultra-high net-worth (UHNW) families manage wealth and estate planning.
The firm’s wealth planning team provides customers with valuable lessons learned from years of experience. There are many families that manage succession with ease, but there are also those that find it deeply challenging. Modern families are increasingly diverse and international, which affects relationships and interactions throughout the planning process. Santander recognises that a successful succession requires far more than just the right documentation. What clients need are the right structures in place that reflect each family's culture and priorities.
The firm’s ‘next generation’ programme starts with a three month deep dive to discuss everything from tax and governance to ESG and the soft skills that help maintain family harmony. This means that whether a family is close by or cross-border, focussed on philanthropy or preservation, Santander is able to help them enact the right strategy.
There are always improvements to any service no matter how consummate, and Santander made several over the last year. Recognising the importance of changes to the regulatory landscape, the bank monitors congressional bills that might affect UHNW families. A digital meeting service allows the bank to update more than 400 clients every month on their approach to wealth planning. In the competitive Brazilian market, Santander was a clear winner for wealth transfer and succession planning.