The capital markets in Argentina have undergone a significant evolution over recent years, thanks largely to a few key companies who have set the agenda in this sector. Among these is Consultatio Financial Services (CFS), who, through substantial investment in technology and a vision that embraces disruption has positioned itself as an undisputed industry leader. Achieving the fastest growth in Argentina, CFS has a proven track record and strong adherence to transparency– all of this in a part of the world where financial inclusion still poses a major challenge.
Consultatio Financial Services is comprised of two companies with the same DNA: Consultatio Asset Management (CAM), Argentina’s fastest growing asset management company over the last five years and Consultatio Investment SA (CISA), a broker/dealer, launched in 2018. Together they constitute the financial services wing of Consultatio Group, whose core business is in real estate: developing residential and commercial properties, and also the master plans for communities.
CAM combines traditional and alternative investment capabilities for private and institutional investors and brokers, while CISA provides consulting services, financial solutions and access to the capital markets.
The group’s founder and main shareholder Eduardo Costantini is a widely respected business figure in Argentina. He is renowned for his achievements, not only in finance and real estate, but also in the art world, as founder of Malba, one of the Buenos Aires’ most loved museums.
Platform for opportunity
As part of the company’s strategic positioning, CFS has turned its focus to a singular mission: to become the most respected and innovative company in Argentina’s capital markets. In order to achieve this, CFS increased its investment in technology with the purpose of significantly expanding its retail client base. In addition, the company has harnessed new technology in order to align its products and services more to the clients’ needs.
“We are certain that innovation is the key to more democratic and federal capital markets. Our prime aim is to reach more people and companies through technology and make it possible for them to access the same opportunities, regardless of the size of their investment,” explains Cristian López, CEO of both CAM and CISA.
As a result, “Plus” was born. Plus is an app of unparalleled flexibility in the local market and allows transactions in the capital markets to be handled through any smartphone, tablet or computer, with a simplicity that is tailor-made to each investor’s profile.
Users can sign up through their email accounts or their Facebook and Google profiles and get a free account with a 100% online registration process. Once registered, they will be able to see the market prices in real-time, create a watch list, and buy mutual funds, bonds and equity. They will also receive stock market alerts, which are unpacked by experts and get free access to a database of financial education and investment ideas, in addition to direct and customised market guidance.
In only 24 hours after downloading the app and registering, anyone can invest and maximise their savings, anywhere in Argentina. No prior experience or knowledge of finance is needed, given that they will continually receive information and recommendations for the portfolios that match their investment profiles.
Plus has been an instant hit. Within a few months, more than 3,200 people opened accounts and made more than 12,000 transactions for a total of over ARS$280m ($10.4m). The Plus platform significantly strengthened CAM and CISE, which is good news for Consultatio Financial Services, as more than 8,000 clients have started to invest through the company – one of the few in the sector to have its own in-house IT team.
“At Consultatio Financial Services, innovation is so much more than just a word. It brings us closer to our clients’ needs in every moment of their lives. We capitalise on technology in order to encourage the Argentine people to build up savings and as a disruptive basis in a market that is in constant evolution,” says Mr López.
Supporting the community
Together, by building this “virtual bridge” through Plus, Consultatio has expanded its position. The growth has also been seen on the ground, with new branches throughout the country opening, including the provinces of Neuquén, Tucumán, Salta and in the major cities. The goal is to be local and to get to know the challenges and needs, and therefore support local development with a robust platform.
“Our commitment is to our clients. We are building a platform that seeks to provide our retail clients with the same opportunities and products that the institutional or high-net-worth clients have. We are turning the income pyramid upside down. We have retail clients that are professionals, employees, entrepreneurs and retired people, who have achieved exactly the same as our high-end clients. This is what makes this platform so powerful. We are helping the Argentine people invest their savings in the best possible way,” says Mr López.
The project of Consultatio is based on three pillars shared by each company in the group: performance, service and transparency. “Our value proposition is based on our firm belief that companies must not only pursue financial gains but also make a contribution to the societies in which they operate,” adds Mr López.
Eduardo Costantini, the group’s founder concludes: “What Consultatio cares about the most are values, professionalism and, above all, honesty. Our mission is to be completely honest with our clients over the years.” This ethos may well the secret of the group’s success, and one that has led it to become Argentina’s exemplar both in real estate and in the financial services.