Call in Colombia: Advisors reveal new offers and main challenges

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David Gutierrez sat down with longtime counselors in his native Colombia to find out how they are adjusting to their new surroundings.

Felipe Gomez

VectorGlobal WMG

Credit analyst

Bogota – Colombia

What type of customer does your business serve?

As financial advisors and strategists, we serve a wide range of clients, be they individual investors, families, businesses, institutional funds and governments. For all of our clients, our goal is the same: to provide personalized wealth management services optimized to meet their goals. We are headquartered in Miami with a presence in over 40 cities around the world and offices in New York, Houston, Canada, Panama, Colombia, Chile, Ecuador, Peru and Venezuela. We also have strategic alliances in Mexico and Switzerland.

What recent changes have you made to your business?

Our goal of delivering added value consistently and of the highest quality is what drives us to continue to stay ahead in a rapidly changing financial world. Our family office has not only worked to calibrate a more efficient workflow for analytics, but is constantly coming up with new products and ideas designed to stay ahead of identifiable market trends. Examples of this are new products in the insurance and family office departments as well as our alliance with Fidelity Canada.

What are your growth plans for the next one to three years?

Our growth plans are ambitious but we are taking a cautious approach. As we seize opportunities to expand our geographic footprint and customer base, every step we take is seen as an opportunity to extend the quality of services and products as a whole. A recent example of this is the expansion of our family office in Canada, and there are future plans for expansion not only in the regions where we are currently present, but also in potential new countries.

Which company do you admire and why?

I admire asset management companies. The work they do, along with their team members, can be described as the industry standard. Their ability to recognize opportunities as well as their ability to adapt and reinvent is something that I find impressive.

What is the main challenge facing your industry?

We are in a dynamic industry. The main challenges are keeping abreast of products and services, understanding the new needs that drive each of our clients, and working to build and maintain diverse portfolios that meet each individual goal.

Oscar Mauricio López González

Casa de Bolsa, Aval Group

Head of Global Markets

Bogota – Colombia

What type of customer does your business serve?

Casa de Bolsa is part of Grupo Aval, Colombia’s largest financial group. We are a Colombian broker who offers access to international investments through a correspondent agreement with Banco de Bogotá Panama. This allows us to promote investment solutions to high net worth individuals in Colombia.

What recent changes have you made to your business?

The Covid-19 pandemic has changed the way we work in a matter of weeks. We have adapted to working from home and I think this is something that will continue for a long time to come. In terms of asset allocation, we are currently taking a slightly aggressive stance and remain cautious, especially given the US presidential election and the second wave of coronavirus in Europe, the US and emerging countries.

What are your growth plans for the next one to three years?

We want to continue to consolidate our integrated business model and, in the near future, be a major player in the local wealth management market.

What’s your best countercurrent call?

I won’t name any names, but if you are looking to boost your performance, then thematic and sector funds are a good idea. Themes will play a more important role in asset allocation. However, it is important to remember that these strategies are generally high risk / return and medium to long term investments.

Which company do you admire and why?

Ripple Foods because it’s a life-changing business for children and their families with allergies to milk. My daughter suffers from this food allergy and this kind of food product makes it easier to live with these restrictions.

What is the main challenge facing your industry?

The entry of big tech companies and how these new models will revolutionize the wealth management industry.

Manuel Felipe Garcia

Skandia Colombia

Head of wealth management

Bogota – Colombia

What recent changes have you made to your business?

This year there have been several changes in our wealth management unit, the most important being the international focus of Skandia Valores, our brokerage firm. Until 2019, our brokerage had two activities: a local operation and another promoting our international investments. However, from the start of next year, the brokerage firm will only focus on developing and promoting international investments. This includes a new deal with Uruguayan Aiva to expand the range of jurisdictions and investment products Skandia can access internationally.

What are your growth plans for the next one to three years?

Our goal is to double our assets under management and the number of investors in our wealth management unit over the next three years.

What’s your best countercurrent call?

The American dollar. I think the USD will lose more than 30% of its value against the Colombian peso over the next five years despite the Colombian economy facing many headwinds, such as budget deficit, deficit current account and low oil reserves. Right now, despite several recent market signals, I have been following the Colombian Peso for a long time. I believe that once Asian currencies rise, Latin America will become the next destination for international investment flows. So I strongly recommend international investors to look for a fund that invests in local currencies.

Which company do you admire and why?

Google. I think it has changed the way we see the world and the way we use the internet. Despite the fact that there were several other search engines in the past, and currently there are a number of other options, such as Firefox, Google continues to innovate and simplify many key internet functions.

What is the main challenge facing your industry?

With low interest rates around the world (which will remain low for the next decade) and high stock market valuations despite no signs of a rebound in the real economy, I think volatility will increase in the years to come. to come up. Market fluctuations will be more pronounced, daily variations of 2% may become common and investors will be more stressed by market behavior.

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