Over the course of two years, Brazilian wealth manager GPS Investimentos Financeiros e Participações (GPS) will acquire a minority stake in Magnetis, which manages assets of around BRL250m (£48.4m, $63.1m, €56.4m), for an undisclosed amount.
Julius Baer is aiming to use the partnership to “capitalise on the growing market of upcoming younger tech-conscious investors” in the region.
Beatriz Sanchez, head of Latin America at Julius Baer, said: “We see a large underserved demand in Brazil for digital investment services that appeal to the rising market of younger wealth.
“With our investment in Magnetis, we will be able to capitalise on this growing segment and collaborate with one of the pioneers in this field.
“In particular, it underscores Julius Baer’s commitment to Brazil and to future client generations and its willingness to invest in the evolution of wealth management.”
Magnetis, founded in 2012 and located in São Paulo, is a fully-registered CVM (Brazilian Securities and Exchange Commission) investment manager.
It offers a platform for investment advice and automated portfolio management solutions online.