Nomad Expands Services for Investors with New Offshore Wealth Management Platform

Nomad Expands Services with New Wealth Management Offering

The Brazilian fintech company, Nomad, is making waves in the financial services industry by expanding its focus on offshore investments and launching its wealth management platform in Brazil. This move comes as the company registered significant growth, reaching R$7 billion in assets under management internationally. In pursuit of its goal, Nomad is also set to open a new office in Miami, Florida, furthering its international presence.

The launch of Nomad Wealth serves clients with investment amounts exceeding $25,000 on the platform, marking a significant step towards providing comprehensive international financial solutions for Brazilian citizens. The new wealth management service promises personalized service without any extra costs or hidden fees. What sets Nomad Wealth apart is its dedicated team that focuses solely on providing client support rather than selling products, ensuring unbiased financial advice.

Lucas Vargas, CEO of Nomad, shared his insights on the company's strategic direction, stating, "We have observed an increase in larger transactions, which reflects trust in our services. Our organizational structure is designed to align with esteemed international regulatory standards." With the launch of Nomad Wealth and the recent establishment of Nomad Investment Services, Inc. (NIS) in the United States, the fintech aims to establish itself as a leader in the offshore investment space for Brazilian clientele.

In addition to being a broker-dealer registered with FINRA, NIS underscores Nomad's commitment to transparency and compliance in financial dealings. The wealth management arm will provide clients with tailored wealth-building strategies, risk management, continuous monitoring, exclusive events, and networking opportunities. This integrated approach caters to the needs of high-net-worth individuals seeking to secure their financial futures through offshore investments.

Currently, Nomad caters to over 3.5 million customers through its international debit account services, as well as facilitating payment collections from international companies. The fintech's growth trajectory is impressive; it achieved a noteworthy annualized revenue of $120 million this year, solidifying its status as a key player in the market.

The Brazilian financial market presents considerable growth potential, particularly given a recent survey by the Brazilian Association of Financial and Capital Market Entities (Anbima). The study indicates that 55% of wealthier Brazilians invest in financial products, yet many remain unaware of the various investment avenues available to them. This observation further highlights the necessity for platforms like Nomad that simplify international financial solutions for Brazilian residents.

Founded in 2020, Nomad quickly emerged as a frontrunner in providing unique financial services tailored for Brazilians living abroad and those looking to explore global opportunities. The fintech has established itself as a noteworthy entity, providing a U.S. bank account to Brazilian residents, which was previously an underserved need. Recognition of its innovative approach includes being listed among the "100 most promising fintechs in the world" by CB Insights and ranking second in LinkedIn’s Top Startups 2024.

Nomad is set to expand its product offerings while building upon its established reputation for helping clients grow and protect their wealth internationally. As the landscape of financial services continues to evolve, Nomad’s proactive approach to offshore investments positions the company for continued success in the future.