The rise of Peruvian clients in Miami: a new trend in wealth management.

The rise of Peruvian clients in Miami as a result of the political and economic instability in their home country is marking a new trend in the world of wealth management. Bruno Ghio, CEO of Allie, a wealth management company that works exclusively with Peruvian families, has witnessed this phenomenon in recent years. Ghio, an experienced banker with a long career in recognized financial institutions, has seen how more and more Peruvian clients are seeking to establish their assets outside of their native country amidst the political and economic volatility that has affected Peru in recent times. This migration of liquid assets abroad has benefited companies like Allie, which provide advice on investments, taxes, and successions. The firm, founded in 2019, is one of the leading independent multifamily offices in Peru, managing at least US$2,000 million in assets from 23 wealthy families, each with an average of US$50 million. As more affluent Peruvians seek to diversify and protect their assets outside of their country, companies like Allie become increasingly relevant in the international financial landscape. Knight Frank's 2023 wealth report noted a decrease in the number of individuals with ultra-high net worth in Latin America, while globally this figure increased. In this context, Miami stands out as a booming city for wealth investment and management, attracting Peruvian clients in search of stability and financial growth. As new generations of Peruvian families settle in the United States and engage in foreign investment activities, additional challenges arise in terms of estate and tax planning. Ghio emphasizes the importance of having a presence in Miami to provide a comprehensive service that addresses all the complexities related to managing the wealth of his clients. While Peru has faced challenges in sectors such as agriculture and fishing due to climate change, Allie remains focused on serving Peruvian families and does not plan to expand beyond its core business. The migration of assets and the search for investment opportunities abroad are trends that are likely to continue in the future, and companies like Allie are prepared to adapt and continue to provide excellent service to their clients in this new era of global wealth management.