{"id":5449,"date":"2020-01-21T07:54:04","date_gmt":"2020-01-21T10:54:04","guid":{"rendered":"https:\/\/www.fdinternational.com\/dev\/?p=5449"},"modified":"2024-07-10T16:08:43","modified_gmt":"2024-07-10T19:08:43","slug":"a-que-llaman-asesor-financiero-en-ee-uu","status":"publish","type":"post","link":"https:\/\/www.fdinternational.com\/dev\/newsletter\/a-que-llaman-asesor-financiero-en-ee-uu\/","title":{"rendered":"A qu\u00e9 llaman asesor financiero en EE.UU."},"content":{"rendered":"

A qu\u00e9 llaman asesor financiero en EE.UU.<\/b><\/strong><\/span><\/h3>\n
\n

En nuestro art\u00edculo de hace\u00a0<\/span><\/span>dos<\/span><\/span>\u00a0semanas,<\/span><\/span>\u00a0<\/span><\/span>SE FORMA UN\u202fNUEVO\u202fGIGANTE:\u202fse reconfigura el mundo financiero<\/b><\/a><\/span>,<\/span><\/span>\u00a0<\/span><\/span>coment\u00e1bamos sobre la compra de TD<\/span><\/span>\u00a0<\/span><\/span>Ameritrade<\/span><\/span>\u00a0<\/span><\/span>por parte de Charles Schwab, tercero y primer<\/span><\/span>\u00a0<\/span><\/span>discount<\/span><\/span>\u00a0<\/span><\/span>brokers<\/span><\/span>\u00a0<\/span><\/span>m\u00e1s grandes del mundo, respectivamente.<\/span><\/span>\u00a0<\/span><\/p>\n

Fue una jugada maestra que se complement\u00f3 con el anuncio que hab\u00eda realizado Charles Schwab de no cobrar m\u00e1s comisiones por<\/span><\/span>\u00a0<\/span><\/span>la<\/span><\/span>\u00a0<\/span><\/span>compra y venta de acciones y otros t\u00edtulos. Esto ha cambiado las reglas de juego de la industria de servicios financieros\u00a0<\/span><\/span>–<\/span><\/span>hablamos de\u00a0<\/span><\/span><\/b>que los inversores ya\u00a0<\/span><\/span><\/b>no\u00a0<\/span><\/span><\/b>p<\/span><\/span><\/b>agar<\/span><\/span><\/b>\u00e1n<\/span><\/span><\/b>\u00a0m\u00e1s comisiones<\/span><\/span><\/b>–<\/span><\/span>,<\/span><\/span>\u00a0<\/span><\/span>produciendo un sacud\u00f3n fuerte en sus<\/span><\/span>\u00a0<\/span><\/span>competidores<\/span><\/span>\u00a0<\/span><\/span>directos.<\/span><\/span>\u202f<\/span><\/span>\u00a0<\/span><\/p>\n

La fusi\u00f3n de ambas compa\u00f1\u00edas<\/span><\/span>\u00a0<\/span><\/span>conforma<\/span><\/span>\u00a0<\/span><\/span>un gigante<\/span><\/span>\u00a0<\/span><\/span>que<\/span><\/span>\u00a0<\/span><\/span>suma<\/span><\/span>\u00a0<\/span><\/span>m\u00e1s de 24 millones de cuentas de clientes y activos en custodia por m\u00e1s de cinco billones (trillones en ingl\u00e9s) de d\u00f3lares.<\/span><\/span>\u00a0<\/span><\/span>Esto\u00a0<\/span><\/span>representa el 11% de los activos<\/span><\/span><\/b>\u00a0<\/span><\/span><\/b>financieros<\/span><\/span><\/b>\u00a0<\/span><\/span><\/b>de los inversores minoristas (<\/span><\/span><\/b>retail<\/span><\/span><\/b>)<\/span><\/span><\/b>\u00a0<\/span><\/span><\/b>de los EE.UU.<\/span><\/span><\/b>\u00a0<\/span><\/span>y ambas<\/span><\/span>\u00a0<\/span><\/span>instituciones\u00a0<\/span><\/span>concentran el<\/span><\/span><\/b>\u00a0<\/span><\/span><\/b>50% de los activos que administran los asesores financieros en los EEUU<\/span><\/span><\/b>.<\/span><\/span>\u00a0<\/span><\/span>Le\u00edste bien:<\/span><\/span>\u00a0<\/span><\/span>el 50%.\u00a0<\/span><\/span>\u00a0<\/span><\/p>\n

Y ac\u00e1 viene una reflexi\u00f3n.<\/span><\/span>\u00a0<\/span><\/p>\n

En los EE.UU., existe una clara diferencia entre<\/span><\/span>\u00a0<\/span><\/span>lo que significa un<\/span><\/span>\u00a0<\/span><\/span>asesor<\/span><\/span>\u00a0<\/span><\/span>financiero<\/span><\/span>\u00a0<\/span><\/span>(<\/span><\/span>investment<\/span><\/span>\u00a0<\/span><\/span>advisor<\/span><\/span>)<\/span><\/span>\u00a0<\/span><\/span>y<\/span><\/span>\u00a0<\/span><\/span>un<\/span><\/span>\u00a0<\/span><\/span>broker<\/span><\/span>. El\u00a0<\/span>br<\/span><\/span>o<\/span><\/span>ker<\/span>\u00a0es<\/span><\/span>\u00a0<\/span><\/span>quien<\/span><\/span>\u00a0<\/span><\/span>maneja las cuentas de sus clientes v\u00eda<\/span><\/span>\u00a0<\/span><\/span>un banco<\/span><\/span>\u00a0<\/span><\/span>(Bank<\/span><\/span>\u00a0<\/span><\/span>of<\/span><\/span>\u00a0<\/span><\/span>America<\/span><\/span>, Citibank,<\/span><\/span>\u00a0<\/span><\/span>JP Morgan,<\/span><\/span>\u00a0<\/span><\/span>etc.) o una sociedad de bolsa (Pershing, Wells Fargo, Morgan Stanley, etc.). Act\u00faa como un vendedor de productos y servicios financieros, siendo compensado<\/span><\/span>\u00a0<\/span><\/span>con una porci\u00f3n<\/span><\/span>\u00a0<\/span><\/span>de las ganancias que le genera a la entidad financiera para la<\/span><\/span>\u00a0<\/span><\/span>cual<\/span><\/span>\u00a0<\/span><\/span>trabaja o representa.<\/span><\/span>\u00a0<\/span><\/span>Cu\u00e1nto m\u00e1s ganancia le genera<\/span><\/span>\u00a0<\/span><\/span>a la entidad financiera,<\/span><\/span>\u00a0<\/span><\/span>v\u00eda costos, comisiones y spreads que le cobran al inversor, mayores ingresos percibe<\/span><\/span>\u00a0<\/span><\/span>el vendedor.<\/span><\/span>\u00a0<\/span><\/p>\n

El rol del asesor financiero est\u00e1 en las ant\u00edpodas de ese modelo de negocios.<\/span><\/span><\/b>\u00a0<\/span><\/span>Todos<\/span><\/span><\/b>\u00a0<\/span><\/span><\/b>sus ingresos<\/span><\/span><\/b>\u00a0<\/span><\/span><\/b>se originan exclusivamente en los honorarios que pacta con sus clientes, como hacemos en FDI.<\/span><\/span><\/b>\u202f<\/span><\/span>\u00a0<\/span><\/p>\n

Dado que<\/span><\/span>\u00a0<\/span><\/span>lo remunera<\/span><\/span>\u00a0<\/span><\/span>su<\/span><\/span>\u00a0<\/span><\/span>cliente, su \u00e9nfasis y foco es sugerirle,<\/span><\/span>\u00a0<\/span><\/span>recomendarle y gerenciarle<\/span><\/span>\u00a0<\/span><\/span>sus activos de la forma que<\/span><\/span>\u00a0<\/span><\/span>cree<\/span><\/span>\u00a0<\/span><\/span>m\u00e1s conveniente<\/span><\/span>\u00a0<\/span><\/span>y menos costosa<\/span><\/span>\u00a0<\/span><\/span>para \u00e9ste.<\/span><\/span>\u00a0<\/span><\/span>Por eso,<\/span><\/span>\u00a0<\/span><\/span>todos los<\/span><\/span>\u00a0<\/span><\/span>asesores financieros<\/span><\/span>\u00a0<\/span><\/span>en EE.UU.<\/span><\/span>\u00a0<\/span><\/span>gerencian los activos financieros de sus clientes en<\/span><\/span>\u00a0<\/span><\/span>discount-brokers<\/span>, como hacemos en FDI desde siempre.<\/span><\/span>\u00a0<\/span><\/p>\n

\u00bfPor qu\u00e9?<\/span><\/span><\/b>\u00a0<\/span><\/span>Porque son instituciones financieras con los mismos servicios y tan seguras como las tradicionales, pero mucho m\u00e1s baratas.<\/span><\/span>\u00a0<\/span><\/span>En un mundo que tiende a la tasa negativa,<\/span><\/span>\u00a0<\/span><\/span>\u201cerradicar\u201d\u00a0<\/span><\/span>los costos y comisiones\u00a0<\/span><\/span>es\u00a0<\/span><\/span>fundamental para obtener rentabilidad.<\/span><\/span>\u00a0<\/span><\/p>\n

\u00bfY c\u00f3mo logran ser m\u00e1s baratas que los bancos y<\/span><\/span><\/b>\u00a0<\/span><\/span><\/b>brokers<\/span><\/span><\/b>\u00a0<\/span><\/span><\/b>tradicionales?<\/span><\/span><\/b>\u00a0<\/span><\/span>Porque se apalancan en tecnolog\u00eda, en negocios relacionados y porque no tienen asesores o vendedores a quienes\u00a0<\/span><\/span>compensar. Tampoco pagan comisiones a los asesores\u00a0<\/span><\/span>financieros\u00a0<\/span><\/span>que manejan\u00a0<\/span><\/span>en \u00e9stos\u00a0<\/span><\/span>las cuentas de los clientes<\/span><\/span>. Es decir:<\/span><\/span>\u202f<\/span><\/span>\u00a0<\/span><\/p>\n