The independent financial advisor will close this year with 1,800 clients and wants to reach 7,400 investors in 2023.

The independent financial advisor will close this year with 1,800 clients and wants to reach 7,400 investors in 2023.

The independent financial advisor will close this year with 1,800 clients and wants to reach 7,400 investors in 2023.

The independent advisor Víctor Alvargonzález in a videoconference.

Nextep Financethe independent financial adviser launched by Victor Alvargonzalezcelebrates its second anniversary with more than 1,500 clients and 350 million euros advised. Although her performance is going unnoticed, she has already positioned herself as one of the fintechs Spanish with more volume. The business plan now addresses a capital increase of up to 700,000 euros to try to quadruple customers in two years.

In an interview with EL ESPAÑOL-Invertia, its founder predicts that Nextep will end this year with 1,800 clients. If it manages to carry out the round of financing that has been designed by the maximum, which will begin to move at the end of the year with the aim of being resolved in March of next year, the milestones to be reached would be the 3,700 clients in 2022 and 7,400 in 2023.

A good part of the success lies in the unique wallet algorithm they created for the occasion. “Up to approximately 10,000 clients, the current algorithm works well or with few improvements,” says Alvargonzález. With the enlargement, which would place its own resources at around one and a half million euros, the formula and the software but, above all, the team will be expanded. Because the other leg of the business is the people.

As its slogan says, “personal contact, automated advice”. Its founder and Director of Investments reiterates on several occasions that “we are not a robot”. “We are people who rely on state-of-the-art technology. Technology that, in addition to making the process more effective, reduces costs for the client”, he asserts.

Unlike a robo advisor, “our advantage is that we can make more selective or sectorial bets, also diversifying the portfolio. Passive portfolio management works when everything is easy, but when the market environment gets complicated or you want to make more sector or country bets, it falls short”. As if it were a car that leaves the factory, “we can function like the basic car without extras, but we also have the extras,” Alvargonzález makes a simile.

Less than half

Because at Nextep they don’t touch the client’s money, they only advise him; they do so on the offer of investment funds that the bank with which the client operates has without having to change entities and combine the recommendations in active and indexed funds.

In fact, the significant cost savings that an investor can achieve with services like this is largely due to index funds. As explained by its manager, “when you put a client 25% of portfolio indexes, you save 20% of total commissions. In the banks there is still little supply, but there is, we have to leave active management only where it is necessary”.

According to Alvargonzález, an investor who is paying between 1% and 1.5% commissions (on average) for advice or portfolio management, with Nextep could lower your bill to levels between 0.60% and 0.70%. With four types of differentiated services (basic, premium, premium+ and face-to-face), customers pay a annual flat rate no way from 180 to 3,811 eurosdepending on the degree of customization you want.

From Nextep they believe that, at present, “we are reaching 5% of our potential market”, so there is a long way to go. “There are still orphans of financial advice in general, up to 300,000 or 500,000 euros, in the segment of retail investors and tributarybut there are also many orphans of independent and quality advice in traditional private banking, among those who have between one and ten million euros”, criticizes Alvargonzález.

What of these seconds has “sin. “If you analyze their portfolios, they follow an architecture guided by the commissions that the managers pay back. And worse still, those private banks place many products from the house itself. Your adviser is not independent, neither formally nor legally. And, to top it off, you find many private banking clients who are not offered clean classes of funds, but are offered expensive classes”, denounces the founder of Nextep.

It is from all this crap that Alvargonzález and his people want to ‘fish’ for clients. “We are lucky because it is still a very inefficient market”. The ground moves for some.


Leave a Reply

Your email address will not be published.