XP connects with Brazil’s wealthy
It has made waves with an IPO and by building a strong retail banking platform. Less well known is how the firm is gatecrashing the country’s thriving wealth management industry.
Bridging the gap in São Paulo
The IPO of XP Inc at the end of 2019 catapulted the company’s name recognition from a strong financial brand locally to global awareness as a new Brazilian financial player. The transaction was, after all, the ninth-largest IPO globally in 2019.
But even in Brazil XP is seen primarily as a retail investment platform. That’s unsurprising given that is what the main business is.