AMCS Group Strengthens the Structure of Its US Offshore Sales Team

  |   By  |  0 Comentarios

Photo courtesy

The firm has appointed Álvaro Palenga as Head of US Offshore Advisory Sales, effective immediately, while Daniel Vivas, Associate Sales Director, will be relocated to Miami and will join the U.S. offshore team starting in early 2026, reporting to Palenga.

The new structure was designed to strengthen the company’s presence within the independent advisory channel and to more effectively coordinate its efforts in key regional markets in the Southwest and Northeast, according to a statement released by the group.

Alongside Palenga’s leadership appointment, he will take responsibility for the New York market, initially working alongside Chris Stapleton, Co-Founder and Managing Partner of AMCS. Palenga’s promotion follows a successful track record in driving the firm’s growth in the Florida market over recent years.

AMCS has observed that some of the largest teams from wirehouses and global banks increasingly operate from both New York and Miami. According to the firm, Álvaro Palenga will be instrumental in covering these multi-location teams to deepen AMCS’ presence in the New York market and sustain the firm’s momentum in this strategic segment.

As part of this initiative, Vivas will help drive growth in the independent advisory channel in Miami, while also assuming full coverage responsibility for the Southwest region.

Daniel Vivas initially joined AMCS in May 2024, based in Montevideo, focusing on Southern Cone sales. Over the course of his career, he has developed deep expertise in addressing the specific needs of the independent advisory segment, and his relocation to Miami will further enhance the firm’s ability to deliver quality support to advisors across the region, according to the statement.

In his expanded role, he will cover all clients, including wirehouses and global banks in the Southwest region, which includes the cities of Houston, San Antonio, McAllen (Texas), Tucson (Arizona), and San Diego (California).

“We are excited about these upcoming team enhancements. The addition of Dani Vivas to our U.S. offshore team demonstrates our commitment to increasing the market share of our partners in the independent advisory segment, which has been growing in both scale and relevance,” said Andres Munho, Co-Founder and Managing Partner of AMCS Group.

For his part, Chris Stapleton, Co-Founder and Managing Partner of the firm, added: “We are fortunate to have an excellent fund offering through AXA IM/BNP Paribas, Jupiter Asset Management, and Man Group, and we expect this new structure to continue driving the outstanding results achieved during 2025 into 2026 and beyond. I’m also excited to work alongside Álvaro to support the continued growth of our business in the Northeast.”

IPG Appoints Daniel de Ontañón as Director, Growth and Business Development

  |   By  |  0 Comentarios

LinkedIn

Investment Placement Group (IPG) Appoints Daniel de Ontañón as Director, Growth and Business Development, According to a Post Shared by Him on LinkedIn

“I’m pleased to share that I’m starting a new position as Director, Growth and Business Development at Investment Placement Group!” wrote de Ontañón, who served until last November as Director of Wealth Management US at VectorGlobal WMG, the international arm of the Mexican firm Vector Casa de Bolsa.

Before working at VectorGlobal WMG, de Ontañón held the role of Managing Director at CIMA Strategic Solutions. Previously, he was CEO of Insigneo for three years, and before that, he worked for more than 11 years at Citi Private Bank, where his last position was Regional Investments, Head Americas. He also held positions at Banco Popular de Puerto Rico and UBS.

IPG’s new hire holds a Bachelor’s Degree in Business Administration from the University of Puerto Rico, Río Piedras, and holds FINRA Series 7, 9, 10, 23, 4, 65, and 3 licenses.

You said:
AMCS Group mejora la estructura de su equipo comercial US Offshore
Spanish to English Translator said:

AMCS Group Strengthens the Structure of Its US Offshore Sales Team

You said:
Ascensos y relocalizaciones para consolidar esfuerzos en mercados clave
Spanish to English Translator said:

Promotions and Relocations to Consolidate Efforts in Key Markets

You said:
The AMCS Group nombra Head of US Offshore Advisory Sales, con efecto inmediato, a Álvaro Palenga. Asumirá la responsabilidad del mercado de Nueva York, trabajando inicialmente en conjunto con Chris Stapleton
Spanish to English Translator said:

The AMCS Group Appoints Álvaro Palenga as Head of US Offshore Advisory Sales, Effective Immediately. He Will Take Responsibility for the New York Market, Initially Working Alongside Chris Stapleton.

You said:
Por otro lado, Daniel Vivas, Associate Sales Director, basado en Montevideo, será relocalizado en Miami y se incorporará al equipo offshore de EE.UU. a partir de comienzos de 2026. Reportará a Álvaro Palenga
Spanish to English Translator said:

On the other hand, Daniel Vivas, Associate Sales Director based in Montevideo, will be relocated to Miami and will join the U.S. offshore team starting in early 2026. He will report to Álvaro Palenga.

You said:
Vivas ayudará a impulsar el crecimiento del canal de asesoría independiente en Miami, al tiempo que asumirá la responsabilidad total de cobertura para la región del Suroeste
Spanish to English Translator said:

Vivas will help drive growth in the independent advisory channel in Miami, while also taking on full coverage responsibility for the Southwest region.

You said:
The AMCS Group anunció cambios en su estructura comercial para cubrir el mercado offshore de Estados Unidos. La firma nombró Head of US Offshore Advisory Sales, con efecto inmediato, a Álvaro Palenga, mientras que Daniel Vivas, Associate Sales Director, será relocalizado en Miami y se incorporará al equipo offshore de EE.UU. a partir de comienzos de 2026, reportando a Palenga. La nueva estructura fue diseñada para reforzar la presencia de la compañía dentro del canal de asesoría independiente y coordinar de manera más eficaz sus esfuerzos en mercados regionales clave del Suroeste y Nordeste, según informó el grupo a través de un comunicado. Junto al nombramiento de liderazgo de Palenga, el profesional asumirá la responsabilidad del mercado de Nueva York, trabajando inicialmente en conjunto con Chris Stapleton, cofundador y Managing Partner de AMCS. El ascenso de Álvaro Palenga llega tras un historial en el que impulsó el crecimiento de la firma en el mercado de Florida en los últimos años. AMCS observa cada vez más que algunos de los equipos más grandes de wirehouses y bancos globales operan tanto desde Nueva York como desde Miami. Según la firma, Álvaro Palenga será clave en la cobertura de estos equipos multiubicación para profundizar la presencia de AMCS en el mercado neoyorquino y sostener el impulso de la compañía en este segmento estratégico. Por otro lado, y como parte de esta iniciativa, Vivas ayudará a impulsar el crecimiento del canal de asesoría independiente en Miami, al tiempo que asumirá la responsabilidad total de cobertura para la región del Suroeste. Daniel Vivas se incorporó inicialmente a AMCS en mayo de 2024, con base en Montevideo, enfocado en las ventas del Cono Sur. A lo largo de su carrera, ha desarrollado una profunda experiencia en atender las necesidades específicas del segmento de asesoría independiente, y su traslado a Miami potenciará aún más la capacidad de la firma para brindar soporte de calidad a los asesores de toda la región, según el comunicado. En sus extendidas funciones, cubrirá todos los clientes, incluyendo wirehouses y bancos globales en la región del Suroeste, que abarca las ciudades de Houston, San Antonio, McAllen (Texas), Tucson (Arizona) y San Diego (California). “Estamos entusiasmados con estas inminentes mejoras del equipo. La incorporación de Dani Vivas a nuestro equipo offshore de EE. UU. demuestra nuestro compromiso de aumentar la participación de mercado de nuestros socios en el segmento de asesores independientes, que ha venido creciendo tanto en escala como en relevancia”, aseguró Andres Munho, cofundador y Managing Partner de Grupo AMCS. Por su parte, Chris Stapleton, cofundador y Managing Partner de la firma, añadió: “Tenemos la fortuna de contar con una excelente propuesta de fondos a través de AXA IM/BNP Paribas, Jupiter Asset Management y Man Group, y esperamos que esta nueva estructura continúe impulsando los resultados excepcionales obtenidos durante 2025 hacia 2026 y más allá. También me entusiasma trabajar junto a Álvaro para apoyar el crecimiento continuo de nuestro negocio en el Nordeste”.
Spanish to English Translator said:

The AMCS Group Announces Changes to Its Commercial Structure to Cover the U.S. Offshore Market

The firm has appointed Álvaro Palenga as Head of US Offshore Advisory Sales, effective immediately, while Daniel Vivas, Associate Sales Director, will be relocated to Miami and will join the U.S. offshore team starting in early 2026, reporting to Palenga.

The new structure was designed to strengthen the company’s presence within the independent advisory channel and to more effectively coordinate its efforts in key regional markets in the Southwest and Northeast, according to a statement released by the group.

Alongside Palenga’s leadership appointment, he will take responsibility for the New York market, initially working alongside Chris Stapleton, Co-Founder and Managing Partner of AMCS. Palenga’s promotion follows a successful track record in driving the firm’s growth in the Florida market over recent years.

AMCS has observed that some of the largest teams from wirehouses and global banks increasingly operate from both New York and Miami. According to the firm, Álvaro Palenga will be instrumental in covering these multi-location teams to deepen AMCS’ presence in the New York market and sustain the firm’s momentum in this strategic segment.

As part of this initiative, Vivas will help drive growth in the independent advisory channel in Miami, while also assuming full coverage responsibility for the Southwest region.

Daniel Vivas initially joined AMCS in May 2024, based in Montevideo, focusing on Southern Cone sales. Over the course of his career, he has developed deep expertise in addressing the specific needs of the independent advisory segment, and his relocation to Miami will further enhance the firm’s ability to deliver quality support to advisors across the region, according to the statement.

In his expanded role, he will cover all clients, including wirehouses and global banks in the Southwest region, which includes the cities of Houston, San Antonio, McAllen (Texas), Tucson (Arizona), and San Diego (California).

“We are excited about these upcoming team enhancements. The addition of Dani Vivas to our U.S. offshore team demonstrates our commitment to increasing the market share of our partners in the independent advisory segment, which has been growing in both scale and relevance,” said Andres Munho, Co-Founder and Managing Partner of AMCS Group.

For his part, Chris Stapleton, Co-Founder and Managing Partner of the firm, added: “We are fortunate to have an excellent fund offering through AXA IM/BNP Paribas, Jupiter Asset Management, and Man Group, and we expect this new structure to continue driving the outstanding results achieved during 2025 into 2026 and beyond. I’m also excited to work alongside Álvaro to support the continued growth of our business in the Northeast.”

The Role of ETFs in the Rise of Investing in the United States

  |   By  |  0 Comentarios

Pixabay CC0 Public Domain

Investment in the United States Has Experienced a Sharp Increase in Recent Years, Driven by Structural Changes That Have Facilitated Access to the Markets.
Today, U.S. investors can choose from thousands of products through multiple channels to invest.

The report “People & Money. The Next Wave of U.S. ETF Investors”, prepared by BlackRock, reveals that stocks and mutual funds remain staple products in American investors’ portfolios, but ETFs “are growing due to their diversification, convenience, and cost-effectiveness.” Therefore, according to the study, “it is no coincidence that this investment boom in the United States has coincided with the extraordinary growth of U.S. ETF assets.” The numbers are clear: exchange-traded funds have more than doubled in just five years, rising from $4.4 trillion in 2020 to over $12 trillion in 2025.

BlackRock’s analysis notes that, in the United States, more and more people are investing, with broad participation across age, income, and gender. Most do so through digital investment platforms (39%), employer retirement plans (35%), and advisors (31%).

Likewise, U.S. investors have a wide range of options when selecting investment vehicles: more than half of those surveyed admit to owning two or more investment products, and nearly one-third hold three or more in their portfolios. This trend suggests, according to the report, that investors are actively building their investments, rather than relying on a single product. “Stocks and mutual funds remain the foundation for most, but investors are increasingly adding other products alongside them.”

Young People Are More Likely to Invest in ETFs

This statement is clear among the younger age groups: individuals aged 18 to 34 are more likely to have ETFs in their portfolios than those over 35 (28% versus 20%). Furthermore, they are more than twice as likely to own cryptocurrencies (45% versus 21%).

As ETFs continue to gain ground among U.S. investors, “the landscape is evolving rapidly,” according to the study. The analysis details where the growth is coming from and what it means for the future of ETF investments.

First, the study notes that it is estimated that more than 24 million people in the United States own ETFs. It is also estimated that 19 million U.S. adults plan to buy ETFs in the next 12 months, and 56% of those already invested in exchange-traded funds plan to increase their holdings in these vehicles.

ETF investors aged 18 to 34 are 50% more likely than those over 35 to cite the “ability to invest small amounts regularly” as a reason for choosing ETFs. On the other hand, “convenience (you just buy one fund)” is the main reason for ETF selection among individuals aged 35 to 44.

Furthermore, the survey shows that 71% of first-time ETF investors will be under 45 years old, and 69% of new ETF investors will earn less than $100,000. Stocks and cryptocurrencies will be the most popular asset classes among those planning to invest in ETFs/ETPs in the next 12 months, according to the report.

The analysis also reveals the reasons why nearly one-quarter of U.S. investors choose ETFs: survey results show that the main reasons are diversification (47%), ease of trading (40%), and the potential for better returns than savings accounts or other investments (37%).

Equity exchange-traded funds remain the preferred option for both current investors and those planning to enter the ETF market in the coming year. However, newer asset classes are narrowing the gap: more than 47% of investors who are investing in ETFs for the first time are expected to allocate funds to cryptocurrency ETPs in the next 12 months, along with 36% of current ETF investors who plan to do the same.

Although There Are More U.S. Investors Than Ever, Many Adults Remain on the Sidelines

They are held back by persistent fears and barriers. ETFs can help U.S. adults move out of passivity and into the market by making investing simpler, more affordable, and more accessible.

Future Needs

Finally, the study also evaluates the needs of the next wave of ETF investors. It shows that 43% of U.S. investors began investing after realizing they could grow their money faster than by saving.

In addition, current investors state that their confidence in investing comes from staying calm during market ups and downs, though they cite affordability and lack of knowledge or time as the main barriers to investing in the United States. Thirty-eight percent of U.S. adults are interested in recurring investment plans over the next two years.

Forget Stablecoins—Make Way for “Programmable Money”

  |   By  |  0 Comentarios

Pixabay CC0 Public Domain

The Financial Industry Begins to Embrace “Programmable Money”
Forget stablecoins—programmable money is emerging as a new force in the payments system, with a far clearer and more practical use than its digital siblings: cryptocurrencies.

Defining an Innovation

What is programmable money? Ronit Ghose, Head of Future of Finance at the Citi Institute, sums it up in one paragraph:
“Unlike traditional money—or even the early forms of digital money—programmable money incorporates automatic logic: each monetary unit can have preset rules that determine how, when, and under what conditions it moves or is used.”

This not only accelerates transactions but turns each payment into a smart transaction: with real-time settlement, built-in regulatory compliance from inception, and full traceability.

Smart Contracts Are Changing Accounting as We Knew It

According to the expert, this approach radically changes how companies—particularly corporate treasury departments—manage their finances. Instead of relying on manual reconciliations, after-the-fact approvals, or fragmented systems, transfers can be automated via smart contracts that execute payments when certain conditions are met—for example, when goods clear customs, when a project milestone is completed, or when an invoice is accepted.

This enables real-time liquidity optimization, payment synchronization across multiple subsidiaries and currencies, and a dramatic reduction in delays or human error.

For regulated financial institutions—banks and large corporations—the core appeal of programmable money lies in the ability to embed regulatory compliance directly into the transactional layer.

“Regulatory rules, risk thresholds, counterparty or jurisdiction validations can be coded into the monetary token itself. As a result, each transaction is not only executed automatically, but also leaves a complete, auditable, and verifiable trail, with validations conducted prior to payment. This transforms compliance from something reactive (reviewing after the fact) to something proactive, automatic, and permanent,” explains Ronit Ghose.

Tokenized Transactions: A Market Poised for Growth

Citi experts estimate that this type of tokenized transaction could grow dramatically in the coming years, reaching enormous volumes—possibly even surpassing those of the currently dominant stablecoin segment.

Technical Challenges, But Clear Momentum

There are still technical and operational hurdles before programmable money becomes reality: the need for interoperability between payment chains or networks, privacy concerns, accounting treatment, regulatory standardization, and adaptation of legacy systems.

But the momentum is clear, says Ronit Ghose:
“Many institutions are already moving from pilot tests to enterprise-scale implementations, in collaboration with regulators who are preparing regulatory frameworks for digital assets. If this process continues, financial management, corporate liquidity, and regulatory compliance could be profoundly redefined.”

The Great Wealth Transfer Will Drive Art Investment: It Will Reach $3.5 Trillion by 2030

  |   By  |  0 Comentarios

Pixabay CC0 Public Domain

Incorporating Art and Collectibles Into Wealth Management Can Add Significant Long-Term Value, according to the Art & Finance Report 2025 prepared by Deloitte. “Creating a deeper and more personal connection with clients, especially with the next generation, is a key aspect of this year’s report,” the study states. The benefits of integrating art into portfolios go beyond financial returns and include emotional and relational advantages. “It encourages a more humanistic approach, offering both financial and non-financial meaning through personalized and memorable experiences,” it notes.

The study concludes, among other points, that in a world marked by uncertainty, hyper-individualism, rapid technological change, and the disappearance of traditional reference points, “art and culture offer a way to reconnect; they help share values, find common ground, and cultivate our humanity.” In this context, the authors of the report acknowledge that artistic and collectible initiatives “have lasting relevance and resonance in the current, ever-evolving wealth management landscape, whether designed for Ultra-High-Net-Worth Individuals (UHNWI) or tailored to a broader private clientele.”

Following a survey of 473 professionals from the art and finance worlds—wealth managers, family offices, collectors and art professionals, as well as art-secured lenders—the study identifies five key trends in art investment:

1. Growth in Wealth Allocated to Art and Collectibles

The report estimates that art and collectible wealth among UHNWI grew from $2.17 trillion in 2022 to $2.56 trillion in 2024—an 18% increase. Projections suggest this figure could reach around $3.47 trillion by 2030—a 60% increase over 2022—driven by the growth of the global UHNWI population.

2. The Great Wealth Transfer

Up to 1.2 million individuals with a net worth exceeding $5 million are expected to transfer nearly $31 trillion over the next decade. Those with over $30 million represent 13% of this group but account for 64% ($19.84 trillion) of the total transfer. Assuming 5% of this transferred wealth pertains to art and collectibles, approximately $992 billion—around $100 billion annually for 10 years—will change hands.

3. Beyond Traditional Art

The art and finance strategy has expanded to include not only art and antiques but also luxury items and personal collectibles. This broadens the range of assets addressed in wealth allocation and client coverage.

4. Growing Client Base

The number of potential clients for art wealth management services is substantial. Around 121,000 individuals had UHNWI status in 2024, and this figure is expected to rise to approximately 163,725 by 2030. Many may be ideal candidates. Around 25% of wealthy investors identify as “collectors,” and those with $5 million or more in investable assets often devote considerable time and resources to their, often extensive, collections.

5. Mid-Market Opportunity and Resilience

Artworks valued between $50,000 and $1 million have shown resilience during global art market downturns. The mid-market segment remains largely underutilized. In 2024, it represented roughly $8 billion in global auction sales—only 4% of lots sold.

Outlook

The survey also outlines general perspectives on wealth management and art investment:

1. Strong Support for Art in Wealth Services

A large majority of professionals in the art and finance sectors still believe art should be part of wealth management services. The average consensus among wealth managers, collectors, and art professionals reached 79%.

2. Fewer Wealth Managers Offer Art-Related Services

The share of wealth managers offering art services dropped from 63% in 2023 to 51% in 2025. This decline was seen in both private banks (50%) and family offices (52%). The trend may reflect a more cautious or selective approach due to perceived regulatory complexity and operational challenges. Independent external providers are increasingly important to fill knowledge gaps and offer compliant, scalable art services.

3. Integrated Advisory Drives Inclusion of Art

In 2025, 87% of wealth managers cited the need for integrated advisory relationships as the primary reason for including art. This reinforces the role of art in comprehensive wealth planning.

4. Client-Driven Factors as Main Reason for Including Art

65% of wealth managers stated that their clients are increasingly seeking assistance with art-related matters, a significant rise from 44% the previous year. Conversely, the importance of art as an asset class declined from 60% in 2023 to 52% in 2025. This shift highlights a move from a purely financial model to a more holistic, goal-oriented approach driven by evolving client expectations and generational change. In this context, art and collectibles can play a strategic role.

5. Holistic Wealth Management Recognizes the Dual Role of Art

Integrating art-related services into modern holistic wealth management acknowledges art’s dual function as both an alternative capital asset and a form of personal expression with intrinsic value. This comprehensive approach ensures that clients’ assets are managed for profit, personal fulfillment, and legacy creation.

6. Average of 10.4% of Wealth Allocated to Art and Collectibles

According to the survey, clients allocate an average of 10.4% of their wealth to art and collectibles—a figure consistent with the 10.9% reported in 2023.

7. Third-Party Expertise Is Essential

Third-party expertise is vital for developing art-related wealth services, but finding and selecting the right partners is increasingly challenging.

8. Passion-Investment Mix Still Leads, but Emotional Motives Are Rising

While the combination of passion and investment continues to drive most collectors (59% in 2025), this share has steadily declined from 76% in 2014. Meanwhile, purely emotional and cultural motivations for collecting have reached their highest recorded levels. This reflects a growing shift toward collecting for reasons of identity, meaning, and legacy, rather than just financial return.

9. Collecting Is Becoming More Professional and Goal-Oriented

Demand for collection management rose from 52% in 2023 to 63% in 2025, with a corresponding increase in art and estate planning.

10. Continued Demand for Art Market Research

Art market research and insights remain highly valued, rising from 90% in 2023 to 91% in 2025.

11. Art-Backed Lending and Social Impact Investment on the Rise

These trends reflect a broader shift in values, where financial decisions increasingly align with personal goals, sustainability, and identity.

Santander Expands Its Research in the U.S. With MoffettNathanson

  |   By  |  0 Comentarios

Santander Corporate & Investment Banking (Santander CIB) announced a new strategic alliance in the United States to expand its equity research offering. Through its local broker-dealer, Santander US Capital Markets, it signed an agreement with MoffettNathanson, an independent firm specialized in Technology, Media, and Telecommunications (TMT).

With this move, Santander adds its fourth equity research alliance in the U.S. market, following previous agreements with Telsey Advisory Group (retail and e-commerce), Vertical Research Partners (industrials and materials), and Nephron Research (healthcare). The strategy aims to strengthen its local sector research capabilities and complement its strong research presence in Europe and Latin America, according to a statement released by the bank.

The Contribution of MoffettNathanson

MoffettNathanson is a well-regarded firm known for its in-depth coverage of the TMT space. Founded in 2013, the firm distributes subscription-based research to institutional investors and was named the No. 1 independent firm in the U.S. in 2022 by Institutional Investor Magazine. Its focus on key companies in technology, media, and telecommunications positions it as a key partner to enhance Santander‘s offering in a sector central to global innovation.

The firm markets its research through a seasoned senior sales team led by founding partners Pat O’Connell, Ethan Steinberg, and John Towers, who together bring over 70 years of combined experience in equity sales.

Objective: Deeper Sector Expertise and Global Reach

From Santander‘s perspective, the agreement represents a qualitative leap in sector coverage in the U.S. David Hermer, Head of Santander CIB US, stated that MoffettNathanson’s leadership in TMT brings “exceptional insight” to the bank’s platform and reinforces its commitment to delivering differentiated analysis and strategic perspective to global clients.

For MoffettNathanson, the value lies in Santander’s international scale. Its co-founder and senior analyst, Craig Moffett, highlighted that the collaboration will help broaden the reach of its research among institutional investors worldwide, leveraging the financial group’s global network and capital markets expertise.

The alliance is part of a broader trend: global banks combining in-house research with agreements with independent boutiques to gain sector-specific reach and speed of coverage in critical geographies. In this case, Santander strengthens its U.S. offering in a segment—TMT—where demand for specialized analysis is growing alongside the technological transformation of the economy.

BBVA GWA Adds Roberta Fernandes as Investment Counselor in Houston

  |   By  |  0 Comentarios

LinkedIn

BBVA Global Wealth Advisors (GWA) Announces the Addition of Roberta Fernandes as Investment Counselor in Its Houston, Texas Office

“We are thrilled to warmly welcome Roberta Fernandes, who joins our BBVA Global Wealth Advisors team in the Houston office as our new Investment Counselor,” the firm posted on the social media platform LinkedIn.

Fernandes shared the post on her personal profile on the same platform, thanking the team for the welcome. She added that she already feels “part of the BBVA family.”

According to the official announcement, “Roberta’s experience significantly enhances our service capabilities in Houston. She brings over 16 years of experience in private banking and cross-border wealth management.” The bank also highlighted Fernandes’ “relationship leadership: her career has focused on building strategic relationships with high-net-worth (HNW) and ultra-high-net-worth (UHNW) clients in Latin America and the U.S.”

They also emphasized her “technical knowledge: her expertise spans financial markets, asset allocation, and advisory frameworks.” In addition, the statement noted her client-centered approach: “Roberta specializes in delivering wealth solutions well-aligned with clients’ evolving objectives, with a focus on regulatory alignment and risk mitigation.”

According to her profile on the professional network LinkedIn, Roberta Fernandes served as Director at BTG Pactual for nearly three years. Previously, she was Associate VP International Client Advisor (ICA) at Morgan Stanley, and also worked in Miami at Santander Private Banking (as Client Relationship Manager) and at Merrill Lynch in New York (as Registered Client Associate), among other professional roles.

She holds a Bachelor’s Degree in International Business from Trinity University in San Antonio, Texas, a Master’s in Finance from the University of Chile, and an MBA from Babson College. She also holds FINRA Series 66 and 7 licenses.

The “Trump Accounts” Debut in 2026, to the Benefit of ETF Managers

  |   By  |  0 Comentarios

Pixabay CC0 Public Domain

The “One Big Beautiful” Law Remains a Source of Endless News and Updates in 2026. One of Them, Affecting Mutual Funds and ETFs, Will Be the Launch of the “Trump Accounts” for Newborn American Citizens

All babies born in the United States between January 1, 2025, and December 31, 2028, will have an account automatically opened when they receive their Social Security number, without parents having to take any action. The government deposits an initial $1,000, and from there, parents, relatives, guardians, employers, or organizations can make additional contributions, although these private contributions are not tax-deductible.

The operation is estimated to cost $15 billion through 2034.

The accounts are designed as long-term savings instruments, as the funds remain locked until the beneficiary turns 18.

A New Business for Funds and ETFs Investing in the U.S. Stock Market


The “Trump Accounts” can only invest in the U.S. stock market. Their growth will depend on market performance, and there is no guarantee of returns.

Why are safer assets like Treasury bonds excluded? Only Trump has the answer.

The capital is channeled into diversified funds that track the overall performance of the U.S. stock market, avoiding sector concentrations or investments in assets considered risky or too specific. The law also sets strict limits on fees, allowing only low-cost products.

When the beneficiary reaches adulthood, the account receives tax treatment similar to a retirement account, maintaining usage rules aligned with that type of vehicle.

Since it is a new program, regulators still need to determine which funds or managers will administer the actual accounts.

Funds That Could Be Selected


It is possible to identify U.S. broad-market equity funds and ETFs that, while not guaranteed to be officially chosen, do meet commonly accepted criteria: they replicate broad indexes, have low fees, and are diversified.

  • Vanguard S&P 500 ETF (VOO) — A very popular ETF that tracks the S&P 500 index, with very low fees.

  • iShares Core S&P 500 ETF — Another ETF indexed to the S&P 500, with good diversification and low cost.

  • Vanguard Total Stock Market Index Fund — An equity index fund that covers a broad universe of the U.S. market; it offers diversification beyond the large companies of the S&P 500.

  • iShares Core U.S. Total Stock Market ETF (for example, in its ETF version tracking a broad index of the entire U.S. market) — An equally diversified and low-cost option.

All Eyes on Birth Rates


Official U.S. birth data for 2025 has not been consolidated yet, but according to the National Center for Health Statistics of the United States, 3,628,934 births were recorded in 2024, representing a 1% increase compared to 2023. The fertility rate (births per 1,000 women aged 15 to 44) was 53.8 per 1,000 in 2024.

The Winning Formula: AI + Securitization, the New Growth Engine for Asset Managers

  |   By  |  0 Comentarios

The asset management industry faces two challenges: clients demand greater personalization and efficiency, while profit margins are tightening. PwC’s Asset & Wealth Management Revolution study reports 89% of asset managers feel pressure to deliver profitability, with nearly half describing this pressure as high or very high.

At the same time, artificial intelligence (AI) has become the main technological lever in the sector. This is no coincidence: the global AI market surpassed USD 244 billion in 2025, an increase of almost USD 50 billion in just two years. Projections are even more compelling: the industry is set to surpass the trillion-dollar mark by 2031, consolidating itself as a transformative axis for multiple sectors, including financial services.

PwC notes that 80% of asset and wealth managers believe disruptive technologies, including AI, are driving revenue growth. McKinsey, on the other hand, estimates that a mid-sized asset manager can capture between 25% and 40% of their cost base through well-executed AI initiatives, provided that end-to-end workflows are reimagined, not just isolated tasks.

Meanwhile, the McKinsey Global Institute’s Agents, Robots, and Us report highlights that AI is redefining the way organizations operate: machines take on routine tasks, while people focus on interpretation, decision-making, and solution design.

In this context, securitization appears as the “structural bridge” that allows AI capabilities to be transformed into concrete, scalable, and globally distributable investment products.

Why are AI and securitization connected now?

 

1.- Pressure on margins + need for efficiency

AI reduces operational costs, and securitization allows this efficiency to be packaged into lighter and more cost-effective vehicles, helping managers survive and grow in an environment with increasingly tight margins.

2.- Increasing adoption of AI in front, middle, and back offices

PwC highlights that managers are integrating AI in portfolio personalization, task automation, and generating insights for clients.

However, many of these capabilities remain “locked” within the organization unless they are translated into investable products.

3.- Transformation of the investment leader’s role

McKinsey emphasizes that business leaders must become “tech-savvy leaders,” capable of linking AI strategy with financial outcomes and business models.

Securitization provides a framework for monetizing these technological capabilities in the form of structured series or notes.

How can portfolio managers combine AI + securitization?

 

a) Turning AI-driven strategies into securitized vehicles

AI models generate increasingly sophisticated investment signals, rebalancing, and portfolio construction. Rather than limiting these strategies to internal balance sheets or segregated mandates, managers can:

  • Replicate the systematic strategy in a securitized vehicle (e.g., a series issued through an SPV).
  • Offer it to institutional and professional investors as a product with an ISIN, international custody, and standardized operational flow.

In this way, AI becomes an alpha engine, and securitization is the vehicle that takes it to market.

b) Packaging infrastructures and AI-linked flows

Adopting AI involves investments in data, models, and technology infrastructure. McKinsey emphasizes that the true economic impact is achieved when AI is integrated into full processes and operational models, not just isolated pilots.

Through securitization, portfolio managers can structure:

  • Thematic notes linked to AI-intensive company or sector strategies.
  • Vehicles that expose the investor to flows generated by assets or contracts tied to AI (e.g., digital ecosystems, data, or technological services), when eligible as underlying assets.

c) Accelerating time-to-market and customization

PwC’s reports on the asset and wealth management revolution highlight that managers who combine technology and the redesign of operational models are more likely to capture growth in a highly competitive environment.

Securitization allows:

  • Launching AI-based products in shorter timeframes than a conventional fund.
  • Creating tailored solutions for specific customer segments (e.g., AI-driven strategies with specific ESG or liquidity restrictions).

Evidence from PwC and McKinsey shows that AI is already a critical factor for future profitability for managers, but its real impact depends on the ability to turn it into tangible investment solutions.

Securitization programs provide portfolio managers with a flexible infrastructure to transform AI capabilities into products ready for global distribution, aligning technological innovation, cost efficiency, and growth in assets under management. In this context, specialized companies like FlexFunds demonstrate how agile, global solutions can facilitate this transformation, turning advanced strategies into cost-efficient, scalable vehicles without the need for complex conventional structures.

To learn more about how FlexFunds uses advanced technologies for its asset securitization program, please contact our experts at contact@flexfunds.com

The Largest World Cup in History and Its Economic Impacts in the U.S.

  |   By  |  0 Comentarios

Pixnio

A global passion for soccer in motion will drive an increase in tourism revenue across 16 U.S. cities, which will welcome 1.24 million international visitors. This is the projected impact of the 2026 FIFA World Cup, according to a report by Tourism Economics, a company under Oxford Economics.

This World Cup will be the largest in history, featuring 48 teams, 104 matches, and 16 host cities across the United States, Canada, and Mexico. A total of 78 matches will be played in the U.S. alone, with stadiums averaging nearly 70,000 in seating capacity. The U.S. match schedule begins on June 12 in Los Angeles, California, and concludes with the final on July 19 in East Rutherford, New Jersey.

Inbound Tourism Demand

The company projects that the United States will receive 1.24 million international visitors for the World Cup, of which 742,000 (60%) will be additional—trips that would not have occurred otherwise. After a challenging 2025 for international overnight travel to the U.S. (with a decline of 6.3%), inbound tourism is expected to rebound by 3.7% in 2026, with nearly one-third of this growth linked to the tournament.

The peak of arrivals is expected in June, when 57 of the 78 U.S. matches will take place, representing a 10% increase in international arrivals compared to the previous year. July will bring in an additional 200,000 visitors, accounting for a 3.2% increase.

The unique passion of the soccer fan base underpins this surge: international spectators are estimated to represent approximately 40% of stadium attendance, typically attending two matches each, with 15 companions per 100 ticketed attendees.

“Mega-events concentrate demand, and the global reach of the World Cup is unmatched,” said Aran Ryan, Director of Industry Studies at Tourism Economics. “We expect a strong increase in hotel occupancy across U.S. host markets, along with a broader tourism boost as fans visit multiple cities and extend their stays,” he added.

“Soccer fans plan to follow their teams for years and may even organize once-in-a-lifetime trips around the World Cup,” he added.

Peak Nights and Premium Rates

In North American host markets, additional hotel room revenue related to the World Cup is expected to rise between 7% and 25% in June 2026, according to Ryan, with the most pronounced increases occurring on match days.

“Factoring in July matches, some cities could see year-over-year growth in additional room revenue between 1% and 5%,” he noted.

Nationally, the event will add approximately 0.4% to total hotel room revenue for 2026—a seemingly modest figure, but substantial in absolute terms, considering host cities only account for about 16% of the U.S. hotel room supply and the increase is concentrated in June and July.

Match significance is key. History shows that final rounds significantly drive up rates. In Germany 2006, the average daily monthly rate increased by 7.6% for each match in June, 14.4% for each match in July, and soared by 46.9% for the final—a pattern that serves as the foundation for the 2026 projections.

Cities such as New York, Dallas, and Miami—hosts of final-round or high-profile matches—are expected to experience significant increases.

Team fan bases also play a role. Fan-favorite teams like England, Brazil, Argentina, and France have an above-average impact wherever they play, amplifying hotel demand. Even smaller nations can generate unexpected impacts when qualification becomes a national milestone, mobilizing passionate fans who travel in surprising numbers.

Seeding allocations are not yet finalized. The December 5 group draw and subsequent schedule will clarify which cities will host teams with the largest fan bases—and therefore the greatest potential.

Legacy and Opportunity for Destinations

The World Cup enhances the branding of host cities through global broadcasts, fan-generated content, and first-hand experiences that elevate each city’s profile and encourage repeat visits. Many fans combine multi-city itineraries, discovering new places they often return to later.

“Destinations have a unique opportunity to capitalize on an active, local audience and will play a key role in spreading demand across neighborhoods, leaving an indelible mark on visitors for decades to come,” added Ryan.

The research findings are based on two reports by Tourism Economics:

  • FIFA World Cup 26 Host Cities Prepared: Analysis of Expected Hotel Sector Trends in RevPAR, ADR, and Occupancy

  • FIFA World Cup 2026: Increase in International Visitors to the U.S.: Quantifying Tourist Volume, Spending Impact, and Incremental Travel Effects

The results incorporate match schedules, hotel market capacity, air travel forecasts, and historical mega-event data, as well as behavioral factors tied to global fan bases and diaspora-driven travel.

Tourism Economics, a firm within Oxford Economics, is a global leader in travel forecasting and economic impact analysis, helping destinations and hotel brands turn data into actionable insights.