By Brazil Stock Guide – Nubank (NU) is stepping up efforts to capture a larger share of Brazil’s investment market by encouraging clients to transfer assets from rival institutions, offering cashback and rewards as incentives to consolidate portfolios on its platform.
The initiative reflects intensifying competition among financial firms seeking to become primary hubs for customers’ wealth management. Nubank is positioning its digital ecosystem as a centralized solution, combining ease of use with a broad range of investment products.
“The objective is to expand our market share in the investment sector, optimizing our customers’ lifetime value by offering a complete wealth management solution. We want Nubank to be the financial hub where clients centralize their ‘income-generating life,’ combining operational efficiency with a simple experience and a robust product shelf that competes directly with traditional players,” said Patricia Whitaker, head of investments at the company.
Asset transfers can be requested entirely online, either via Brazil’s stock exchange operator B3 (B3SA3) or through the originating institution. Eligible assets include equities, exchange-traded funds (ETFs), real estate funds (FIIs), Brazilian Depositary Receipts (BDRs), government bonds, bank certificates of deposit (CDBs), real estate and agribusiness credit notes (LCIs and LCAs), corporate debt and investment funds available on Nubank’s platform. Pension funds, derivatives and structured notes (COEs) are excluded.
To attract inflows, Nubank is offering tiered incentives targeting its Ultravioleta and Nubank+ clients. Ultravioleta users receive either 10,000 points or 300 reais in cashback for every 50,000 reais transferred, with a cap of 6,000 reais or 200,000 points. Nubank+ clients receive 180 reais for every 30,000 reais ported, up to a maximum of 1,800 reais.
Rewards are paid in ten monthly installments, conditional on the assets remaining on the platform throughout the period, reinforcing both acquisition and retention strategies.
“With this campaign, we want to consolidate Nubank as the investment home for our clients. By incentivizing portability with cashback or points, we make it easier for people to centralize and manage their wealth on a single platform, with a fully digital experience. Our product offering—from fixed income to funds and equities—was designed to serve different investor profiles, always with transparency, security and greater autonomy,” Whitaker said.