MIAMI—Miami has traditionally been a haven for flight capital, particularly from Latin America but now for other parts of the world as well. How will foreign currency devaluations affect the wave of investment we have seen in this cycle to date?

Alan Lips, a partner at Gerson Preston Robinson, for some thoughts on the topic. He tells GlobeSt.com how he's counseling foreign investor clients in this stage of the current cycle.

“Miami has a long history in attracting flight capital and the current foreign market instability is and has been fueling this activity even more particularly in Miami,” Lips says. “Most high net worth investors have had their money out of their home countries for some time and what will drive their decisions won't be currency valuations but rather the opportunity to put this money in a safe place and grow it over the long-term.”