According to official figures, at the end of 2020, Mexico had just 947,850 investment accounts. However, by the end of 2024, that figure had surpassed 15 million, reflecting significant progress in democratizing access to the financial market. On the other hand, the country has about 10,000 investment advisors authorized by the Mexican Association of Stock Market Institutions (AMIB), a figure far below what its market requires.
Thus, the growth in investment has not been accompanied by a proportional development of the financial advisory ecosystem in the long term, which continues to face significant challenges in coverage and professionalization, explains GBM in its report “Outlook on Financial Advisory in Mexico.”
For example, Brazil (a market similar in size and culture, despite its higher population density) has 70,000 financial advisors—that is, 7 times more. The difference is abysmal with the United States, where there are between 240,000 and up to 270,000 financial advisors.
“In the last decade, access to financial products has ceased to be a barrier, thanks to the digitalization of the investment ecosystem. The current challenge lies in the strengthening and professionalization of financial advisory, which is essential to boost investments and to help more and more Mexicans achieve their personal goals,” said Luis Felipe Madrigal Mier y Terán, Director of GBM Advisors.
Promoting financial advising as a career of the future is crucial to ensure that investors—both those just starting out and the more experienced—receive the necessary support to make informed and strategic decisions, the firm believes.
According to the study “Investment Habits in Mexico 2023,” 42.3% of Mexicans stated that they do not invest because they consider investment products difficult to understand.
