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MAPFRE Gestión Patrimonial launches offensive to attract 12,000 clients

Feb 23, 2023

Redacción Mapfre

MAPFRE Gestión Profesional (MGP), MAPFRE’s specialist unit offering professional financial advice to clients, takes a new step forward in its wealth management strategy through the promotion of cross-selling of advisory services among the Group's more than 7.4 million policyholders. MGP had 12,000 clients at the end of 2022, up 20% on the previous year. Assets under advisement amount to 1.4 billion euros, a year-on-year increase of 5%, in spite of the difficult market environment experienced last year.

This week, several of Spain’s principal economic and financial media outlets commented on this MGP strategy, at the same time as the Palma de Mallorca office was officially opened, bringing the number of offices to 10 nationwide. Spain’s leading business journal, Expansión, highlighted that this strategy could double client numbers to 24,000, with the aim of increasing the investor portfolio by at least 20%.

For its part, El Confidencial noted that to achieve this goal, the firm plans to boost the number of financial agents to 200 from the 170 it currently has in place.

The average assets of MGP clients are around 80,000 euros, more than triple the level of 25,000 euros for the rest of the insurer's networks, according to El Economista, who also referenced the 5% increase in assets under advisement recorded last year.

Likewise, the Balearic Islands newspaper Última Hora pointed out the 730 million euros in net advisement inflows registered last year.

MGP Balearic Islands Economic Forum

This announcement coincided with the MGP Baleares Economic Forum and the opening of a new office in the region. MAPFRE's group chief investment officer, José Luis Jiménez, recommended sticking with products offering guaranteed or protected returns.

Sustainability was another of the central themes of the event, at which the participants agreed on its potential as an investment trend.

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