Over the last years, Bradesco Private Bank has been through constant and significant changes in order to improve customer relationship service and engagement. Our goal is to provide the most innovative, latest experiences and services.
Our Private clients have access to tailor-made solutions, specialized services and customized products with the support of highly prepared specialists. Furthermore, many of our clients are owners of large companies and, with a greater synergy between our department and the corporate team, we can offer solutions and services that support their businesses profit and expansion. In addition, our clients gain a competitive edge, having first-hand access to a wide variety of reports, in both Portuguese and English, available to the most important investors around the world.
Also, in order to decrease our banker’s operational workload and increase their time spent navigating through these robust structures, we restructured our business model by allocating one relationship officer for each banker, as well as a new point of contact known as daily banker. With the support of this team, the banker has more time to focus on the quality of the client relationship and seek new business opportunities.
Bradesco Private Bank achieves massive growth of 44 percent in 2021
In 2021, with a historic net funding of BRL 49,5 billion, Bradesco Private Bank achieved a solid growth of 44% compared to the pre-pandemic period and 104% in the last 5 years and reached a total of BRL 370 billion under management, representing a market share of 21.3% and 2 p.p. growth over 2020.
We have also seen a growing number on our Net Promoter Score over the last 4 years, representing the increase of client satisfaction and loyalty.
“Bradesco Private Bank has a dedicated teamwork, which is committed to constantly build a solid, strong and modern bank. Our differential is the long-term relationship with families.
We want to continue being the bank that transcends generations” says Guto Miranda, Bradesco Private Bank Global Head.
Part of the restructuring of the Bradesco Private Bank in recent years has taken place in international territory – and has been fundamental for the Brazilian result. In 2020, Bradesco purchased BAC Florida and the operation in Luxembourg was restructured. Different booking centers are an essential part of our clients’ international allocation structure.
The structure of our building was designed by one of the most well-known architecture firms in Brazil, by their ability to inspire people through their constructions. Designed with modern, spacious and well-equipped meeting rooms exclusively for clients, we have a total of 37 meeting rooms distributed throughout three floors to welcome our clients in a personalized manner. We also have the possibility to host events, such as educational workshops, as well as economic and investment content for heirs.
Other than our workshops, we also invite our clients to cocktails and talks on our charming rooftop.
Alongside our in-house events, we provide our clients with personalized and unique events. Family Forum, one of our main events, aims to support heirs on the challenges of taking over family businesses or managing inheritance, and its contents range from economic scenarios to innovation, global trends, and creativity, among others. In addition, the event offers a great exchange of experience between participants and is very enriching.
Bradesco Private Bank’s innovation ecosystem
Through an innovation ecosystem called Inovabra, Bradesco Private Bank shares future business trends with its clients. Inovabra was developed to support Bradesco’s corporate strategies and increase innovation through collaborative work, and is composed of eight complementary action programs, one of which is a co-innovation space named Inovabra Habitat.
Launched in 2018, Inovabra Habitat is a co-work ecosystem focused on high impact disruptive business development and has helped several clients/entrepreneurs to innovate in their own businesses. Inovabra Habitat is located in São Paulo, an economic and innovation center. Currently, 13 tech partners, 207 start-ups and 65 corporate companies share our facility, with a total of 15 thousand workers collaborating to innovate. We encourage clients to visit Inovabra Habitat, and now it is entirely available for our Private clients.
We have examples of success cases where clients overcame difficulties and gained a competitive edge in their own business by using innovations and solutions created in-house. Moreover, Inovabra Habitat is an environment where clients are encouraged to actively interact with the state-of-the-art startups, where many of our heirs are exposed, firsthand, to cutting-edge technology and solutions, preparing them to lead the future of their companies.
When it comes to wealth planning, we have the biggest and most highly specialized team in Brazil. Therefore, we are able to provide advice to all private clients around the country, from entry level to UHNW clients. We can offer personalized guidance to meet clients’ needs and goals, whether in the present time or in the long-term. Our specialists are able to structure customized solutions to manage, protect and improve clients’ wealth, while also taking into consideration their families and business’s needs. We are also able to help our clients review or restructure their wealth when there is a change in circumstances.
In order to provide comprehensive wealth planning, we advise our clients on a variety of subjects such as succession planning, tax affairs, corporate governance, charity, change of tax residence, as well as offering educational programs for future generations, engaging people in philanthropy or indicating highly regarded law firms or independent providers when necessary. Our main goal is to provide our private clients a truly complete wealth planning, tailored in accordance with our clients and their family’s needs.
On the wealth management side, clients must be classified according to a risk profile that represents each client’s risk appetite. We have an expert senior advisory team that are trained to understand the investment needs and objectives of each client, and after a thorough analysis, suggest an optimal portfolio. We work with an open architecture platform of products and a careful selection to build the optimal portfolio. We also advise the best vehicle in order to attend specific demands, like succession. This process is reviewed periodically or on demand.
Bradesco Private Bank investment services consist of a robust process of portfolio construction considering all available asset classes, historical and expected returns, macroeconomic expectations and investment vehicles. Also, we use risk analysis metrics and monitor portfolios in order to identify potential risks and to ensure that the portfolio reflects the goals and expectations of the client.
Our bank considers technology improvement essential to provide our clients with robust and innovative services. Bradesco has won several awards for its innovation culture including World’s Best Financial Innovation Labs, from the magazine Global Finance. Recently the bank won the best private for digital marketing and communication from the Financial Times and The best private bank in Brazil from The Global Economics.
When it comes to innovation, the Private Bank segment has not only made a huge improvement on its digital platform over the past two years, but also has invested in a lot of institutional programs held by the Bradesco organization.
Moreover, we acknowledge that our clients are looking for agile technological services and, with this in mind, we created a business account on messaging Apps to interact instantly with our client base. At the same time, the Private Banking segment has heavily invested in mobile and internet banking technology, allowing clients to access all kinds of services and products, like investments in mutual funds, wire transfers, access market reports, check bank statements, credit card statements and our securities broker.
In addition, another recent platform created to improve our clients’ experience was our electronic signature. Now our clients can sign documents and complete various businesses electronically and, consequently, their time is optimized.
Besides our robust structures and technology offerings, we also provide our clients with trend content through our solid communication channels. This period of social distancing reinforces even more the importance of having digital communication platforms, and we offer our clients the latest global and local information alongside our institutional communications, investment offerings and events.
Philanthropy is in Bradesco Private Bank’s DNA
When we talk about Philanthropy it is with no doubt that it has always been part of our organizations DNA. Bradesco has been building solid relationships with its clients and contributing with responsibility and transparency for 79 years. Fundação Bradesco is the largest endowment in Brazil with approximately BRL 65 billion net worth, and it has been promoting inclusion and social development through education, culture and sports since 1953. With 40 schools spread across the country, and over 45 thousand students, the Fundação Bradesco is our biggest legacy in the organization. In parallel, our Private Bank has 20 years of history in the market fulfilling our client’s needs.
Philanthropy is an important part of Bradesco Private Bank’s strategy – we created an area focused on giving personalized advice to our customers in their purpose for philanthropy, whether they want to donate to established institutions, volunteer or create their own institution or endowment fund.
We are able to help our clients with different needs, such as indicating professionals, building philanthropic networks, giving tailored advice or even providing wealth management services for families. In this specific topic, it is also worth mentioning that a relevant part of total assets under management in Bradesco Asset Management comply with ESG guidelines and Bradesco Asset Management is signatory of Principles for Responsible Investment since 2010.
Besides helping our clients fulfill their philanthropic desires, we also value partnerships with companies that are aligned with our principles and beliefs.