スペインのTresis会社は、財務顧問、資産管理の会社で、その社長のホセ=ミグエル=マテ Jose Miguel Mate(マドリッド;1965)の面談記事
JOSÉ MIGUEL MATÉ / Consejero delegado de Tressis
“Los bancos se enfrentan a un conflicto de interés permanente”
El responsable de Tressis cree que los fondos son el mejor producto para gestionar patrimonio
David Fernández 27 ENE 2013 - 00:00 CET
JOSE MIGUEL Mate / CEO of Tressis
"Banks are facing a permanent conflict of interest"
The head of Tressis believes that funds are the best product to manage assets
David Fernandez 27 ENE 2013 - 00:00 CET
Tressis is a company focused on financial advisory and asset management. José Miguel Maté (Madrid, 1965) is the CEO since the company was founded in 2000. The crisis has uncovered many financial fiascos and this marathon runner wants to tap the disenchantment of savers to grow.
Question. What balance 2012 the company closed?
Response. It was a good year for Tressis. We favored the awareness of customers that there is life beyond the banks. The crisis has shown that there is a permanent conflict of interest between the interest of the bank and what the customer needs. Savers are beginning to realize that in his lifetime bank were well attended, but not well advised. We are independent, we put the client's interest ahead of us and that makes us an alternative. In addition, we have been able to read well the behavior of markets, and the people who are with us have been beating inflation systematically.
P. At what point is Tressis?
R. We are at an important time and we have set very ambitious targets. 2013 will be the first of the three years of our strategic plan. At the end of it we want to double the assets of individual customers we have today. That means growing more than 1,200 million euros in equity. If you consider that today we have a average assets per client than 400,000 euros, one can get an idea of how we want to grow.
"Credit institutions serve their clients, advise them not"
P. And how much they think win market share in an economic context that picky?
R. In Tressis have three business areas. The first is the institutional business, where we give services to other investment firms. Without ruling grow in this segment, our strategy focuses on the other two. First, is our network of independent financial advisors. We have a presence in nine cities and we want to be in more places. We are in talks with local partners who want to work with us. The other area of expansion is the team of private banking or wealth management we have in Madrid, where we are adding more financial advisors to meet individual customers.
P. How will you fund your strategic plan?
R. In principle, it will finance with equity. We have no need to raise capital, but not ruling it out if we see that the growth rate is adequate.
P. The savings and investment capacity of the middle class is being seriously undermined by the crisis. The Tressis profile identifies with retail customers or private. To what extent this social class is not being harmed also by lower disposable income? What have detected potential market for such ambitious goals marked?
R. It is true that in times of crisis disposable income falls. Bajan salaries, increasing taxes ... But on the other hand, one of the consequences of the crisis is an increase in the savings rate, as many people, for fear of the future, stop spending. That what we are noticing: there are customers who consistently bring us some more money. However, where we hope to grow is to gain market share they currently have credit institutions. In Spain there are, according to our calculations, more than a million people between € 120,000 and two million deposited or invested in traditional banking. That is, we are talking about more than a million people who have a whole over 380,000 million euros. Imagine if market share is scratching! To achieve this, it is key to make things right, to convey the message that we are an alternative to traditional banking, we offer independent advice service in the sense that we have no conflict of interest because they do not sell their own products. What customers want is confidence and that's what we sell.
"Our goal is to double assets under management in three years"
P. Is it true that the Spanish have difficulty paying only for financial advice?
R. There is some truth in that idea, but the reality is changing. The financial advice requires time well done, the expert should consider their customers, understand their needs and accordingly provide the product that best fits your goals. Before receiving savers thought free advice, but it was not true. When a bank have to sell deposits, funds, cards, plans, accounts ... is impossible to concentrate. We are at the beginning of a turnaround and we want to be pioneers Tressis as we were with the concept of open architecture investment funds.
P. Just wanted to ask for the funds market in Spain. Since the crisis began the industry has halved in both balance sheet and shareholders. Will we see in 2013 a turning point?
R. The funds are a very clear sign of the conflict of interest of which I spoke earlier. This product is still the best tool to manage heritage medium and long term for many reasons. However, financial institutions have been interested only sell their stock since the crisis began: first deposits, then bonds, preferred stock or shares of the bank's own. When a change occurs or when legal entities need to improve margins rather than attract liquidity will occur a tipping point for the fund industry.
P. How do financial markets in 2013?
R. We began the year optimistically. In Europe things are starting to move something and the resolution of the sovereign debt crisis appears to be closer. Meanwhile, in the U.S. the main factor of uncertainty, known as tax precipice, at least he has managed to kick forward. All this does not mean that 2013 will be a raft of oil markets. There will be bouts of volatility for specific problems in Greece, Spain or Italy, but the overall tone is much more favorable. In this context, we still like the U.S. equities and thought, after a long period out of money in Europe, funds may return to European assets. In Spain there are many companies clearly undervalued, and can have a year Ibex reasonably positive. Corporate bonds, although we see less value in 2012, we also like because there are still a lot of liquidity and that benefits risk assets. It is definitely an optimistic speech, but from the prudence always done and that must be modular to the needs and profile of each customer.
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