The Buenos Aires-based firm Grupo Balanz continues to grow regionally and aims to strengthen its presence in the USA, targeting both clients for its US Offshore business and residents in the North American giant, its executives told Funds Society.
“We are a company that started 20 years ago in Argentina. More than 5 years ago, we decided to expand the model towards Latam,” commented Julio Merlini, CEO of Balanz Argentina.
The executive reviewed the opening of offices in Panama, the United Kingdom, Uruguay, and the establishment of Balanz US in Miami.
With a new office in Coral Gables and under the leadership of Richard Ganter, the firm features a hybrid system between advisory and broker-dealer for both international and resident clients.
This model, which caters to both US residents and Latin Americans investing in the country who are tax-exempt, presents a “tremendous opportunity” for advisors seeking firms, particularly in Miami, added Ganter, CEO of Balanz US.
The CEO noted that the profile of advisors who best match the Argentine firm’s model are those with 15 to 20 years of experience in the business who want to continue growing.
“We believe it is very important for the advisor to know and feel that they are in an independent firm. Flexibility is a value in our proposal,” Ganter added.
He also emphasized the investment Balanz is making in building research and strategy teams to add value to their proposal.
Finally, Merlini responded that the group does not have a strategy to enter Private Equity because “for that, one must be prepared for both when the fund enters and especially when it exits. And that is something we do not want.”
The group employs more than 1,000 professionals and operates in three main sectors: Wealth Management, Asset Management, and Investment Banking.
For Gabriela Huerta