The Securities Commission approved the first investment fintech that allows it to operate on the US stock exchange 100% online. This is Quiena Inversiones, an investment platform that received confirmation of its registration as a Global Investment Advisory Agent and became a legal option to allow Argentines to invest in global markets.
In September 2017, the CNV created the figure of the Global Investment Advisory Agent. The new type of agent can offer public advice on investment options from around the world. Opening in the local market the possibility of accessing stock markets such as Wall Street.
Quiena Inversiones, which was recently approved as AAGI, was already operating in Uruguay, the United States, and Mexico. And has more than 3000 clients aged between 30 and 50 years. Quiena Inversiones advises and manages the accounts of the majority of these clients and others take advantage of the low costs of the platform to operate on their own.
The Quiena platform allows 100% online to open an investment account in a US brokerage house. And makes it possible for small and medium savers to access the US stock exchange with the guidance and advice of the company. Thousands of assets can be purchased from Argentine stocks ADR, US stocks, funds and bonds from around the world.
In a statement, Quiena Inversiones explained that the App allows sending funds to the US broker account with a local transfer by CBU from the client’s home banking. It has much cheaper costs than local advisors.
“In this way, Quiena opens up to all Argentines the possibility of diversifying their investments with assets from all over the world. And not limiting them to local investments such as fixed installments, purchase of dollars or Argentine stocks and funds,” says an informative part.
How to invest
Quiena investments offers two alternative forms of investment:
1) Automatic: Where an algorithmic system automatically arms the ideal investment portfolio, mathematically calculated for each client, according to the amount of investment, the level of risk you want to assume and the estimated date you want to withdraw your money. You can always withdraw money whenever you want.
2) Self-management trading: Where the client buys and sells the asset he or she wants in real time and in a very simple and transparent operation. For example: gold, soy, Netflix, Coca Cola, Banco Galicia, YPF and thousands of other options.
“This approval is in addition to our current registration in the US Securities Commission, SEC. And increases the strength, security, and access we offer our clients on services previously limited to the richest 1% of the population is for everyone, “said Nicolás Galarza, CEO and Founder of the company.
Quiena is also registered with the SEC. The investment principal account in the name of the investor in a US brokerage house is protected up to $ 500,000 by SIPC.org. An organization created by the US government.
Only the account holder has access to make deposits or withdrawals, and Quiena Inversiones in its automatic format can only buy or sell assets according to the chosen investment plan. Monitoring the investment 24×7 to maintain the level of return sought without the intervention of the client.
Who is behind the App
Nicolás Galarza, founder and CEO of Quiena Inversiones, was already managing his personal investment account when he started his economics degree. By the end of the same year, an investment club had started with 12 individuals who together managed an invested capital among all. The project grew to an investment firm regulated by the US Securities Commission. In 2015, Nicolás traveled to Silicon Valley and met members of the WealthFront team, a US company that automates all the investment advisory work (what Nicolás was doing) to offer it to retail clients without minimum investment and in a profitable way.
When he returned to Argentina, he decided to convert the investment firm into what is now Quiena Inversiones. With a technological team he started the development of the platform during the Fintech program of NXTP Labs in Buenos Aires. By mid 2016 it had attracted investment between an Argentine risk fund Incutex and government contributions for technology development.
Then, Roberto Ripari, former marketing manager of Santander Río and Mariano Pantanetti, former Wealth Management manager of CITI bank, joined the project.
Finally, Quiena Inversiones added as investors shareholders and partners of the company to risk investors, who contributed another us $ 750,000 to the company. The new partners include a US international bank that made a direct investment in the Argentine company, with which it plans to launch new products and services to customers throughout Latin America.