ESTABLISHING BALANCE FOR YOUR FUTURE

Investment Advisory (IA) and Retail/Private Banks

More and more investors realize that the conventional service model does not put the client at the center of the business, whether in Investment Advisory (IA) or Retail Banks.

Retail Banks

Understand: your manager works for the bank, not for you. They have remuneration and bonus targets you are not aware of, and "product" targets that may not make sense for you at that moment — or ever. Retail managers carry targets for insurance, capitalization bonds, consortia and pension plans, among others. They have access to investment vehicles from other institutions, such as higher-yielding CDBs from smaller banks, and could allocate part of your resources under the FGC guarantee. But if they raise those resources for their own bank, they can lend them out and generate the famous "Spread," the largest source of profitability in our banking sector. So why would they place you in a product that is better for YOU? Try moving your money to another type of management: the answer will almost always be a more diversified portfolio proposal — still skewed toward the bank's own funds. It is what happens with our clients before they manage to move their resources out of these institutions.

Investment Advisory (IA)

Your Investment Advisor may or may not work for you. However good your "IA's" intentions may be, they are tied to a single institution. Each "product" on the platforms of brokers and investment banks is negotiated on different terms across institutions: some are more profitable for the intermediary, and the Advisor does not always have visibility into this. There is also the Advisor who, let's say, "does not have the best intentions," and favors assets with higher profitability for them and higher risk for you. The COE (Structured Operations Certificate) is one example: it tends to generate substantial fees for the Advisor and little return for the client. Advisories are paid in advance when they allocate to an asset — the longer the fixed-income paper, the more years of "Spread" the advisor collects up front, and the longer the client's resources stay locked in the institution. Early exits from fixed income also generate good fees for advisors. And the access to Global Markets that these advisories offer abroad is not adequate either: it follows the same "product sales" logic, with very high fees for the client — to the point that even the least ethical Advisor struggles to "push" the sale.

Private/Wealth Management of Retail Banks

For clients with liquidity above R$ 10,000,000.00, service is handled by "Private Bankers": more qualified bankers, usually holding a CFP, dedicated to the financial wealth management of clients (Wealth Management). As in retail, funding tends to be directed to the bank itself, through its own investment funds and fixed income. Beyond this clear conflict of interest, "Private Bankers" also answer to targets the client does not know about. And because the Private client rarely knows the alternatives for accessing Global Markets, they place their trust in the same institution — which tends to charge high fees.

What is the solution for YOU?

We charge a fixed management fee on your portfolio resources. We earn no more by placing the client in riskier products, outside their investor profile or investment horizon. The management fee is paid monthly: we are not paid in advance for services we have not yet delivered. This lets us sell fixed-income assets at a profit when interest rates fall, or rebalance the allocation across asset classes when the macroeconomic outlook changes. We are connected to several large institutions and brokers in Brazil and abroad, and here we hold two further advantages over bank managers and investment advisories: our two Senior Managers are licensed by the CVM to set each asset-class percentage with the client and to act at the right moment, without troubling the client with emails and "push" authorizations. In addition, we open accounts under the client's CPF at several institutions, so that each must compete with better rates to keep the resources there. Retail banks rely on the client's convenience and lack of time to set whatever rate suits them. We access Global Markets easily and with minimal remittance cost for investment accounts: your resources sit wherever is best for YOU. We do not work for any institution. We work for YOU.

Our Manager follows the most rigorous Code of Ethics and Standards of Professional Conduct:

W14 - Asset Management affirms compliance with the Code of Ethics and Professional Conduct Standards of the CFA Institute. This affirmation has not been verified by the CFA Institute. We follow the Standards of Professional Conduct and the Asset Manager Code. But at what cost? Private Service: from R$ 10,000,000.00, on the same terms as the Private area of large banks — and, soon, with Wealth Management. Retail Service: from R$ 300,000.00, with practically no extra cost for our work, since the fees that advisories would charge are no longer deducted from you. We charge an annual management fee, paid monthly, equivalent to the average of the "products" that banks and advisories sell.