In our Business Brief series, we take a closer look at a firm to find what makes it tick.
We chat with Raul Henriquez, chief executive of Miami-based Insigneo Financial Group, who tells us why he's committed to the Latin American market.
Insigneo Financial Group
Headquarters: Miami, US
How long have you been serving clients? 30 years
Assets under management: $8.5 billion
Number of clients: 15,000
Client base: Argentina, Brazil, Chile, Colombia, El Salvador, Mexico, Uruguay and Venezuela
What book best describes the daily routine at Insigneo? The Founder's Mentality by Chris Zook and James Allen
Leadership team (left to right): Raul Henriquez (CEO), Paul Duffy, Guillermo Vernet, Noemi Schaefer, Helen Lumpuy, Miguel Reyes, Daniel Schwartz, Francisco Nuñez, Miguel Cauvi, Jacobo Gadala-Maria, John Diamantis
What do you do better than your rivals?
At a time when others have chosen to exit the Latin American market, we are doubling down on our commitment to the region, fully engaged and focused on expanding our presence.
Our success stems from partnering with seasoned financial advisors as well as thoughtfully selected service providers, to be able to offer customized and personalized services. A solid compliance foundation and culture complement our value proposition.
Additionally, our partnership approach, aimed at co-creating solutions with advisors and clients alike, challenges the top-down sales approach.
What are your plans for the next 12 months?
Consolidate our new brand and corporate image, and position ourselves to offer an exceptional value proposition to our different constituencies. We want to provide the best customer experience by leveraging our human capital, technology, organization and culture.
Our cultural and organizational development plans and technology road map are ambitious, and should bolster our competitive position, while our business development mindset continues to focus on the following lines of
business: wealth management, multi family office, asset management and institutional.
What company do you admire and why?
Over the years, Apple has proved its exceptional ability to innovate products, focusing very successfully on the customer experience.
Meanwhile, Amazon has been the quintessential disruptor in the distribution field, leveraging technology, logistics and scale well beyond its initial scope.
What are the main challenges facing your business?
Keeping up, adapting to and leveraging technology in the financial sector is a constant challenge we face as an industry.
Fortunately, having a strategic partner in Pershing that is committed to investing continuously in technological innovation is a key advantage for us in this regard.
Technology over the years has become more affordable and accessible, allowing us to compete with much bigger companies. Name an activity or ritual you and your team have at work.
A Friday breakfast with our executive committee, with an open agenda to share insightful topics such as
disruption and innovation. This helps us to close the week on an inspirational note, rather than an operational or tactical mindset.
New day, new name
By Michelle Abrego
If the name Insigneo doesn’t sound familiar but the business does, it’s probably down to its recent merger and rebrand. The Insigneo brand was unveiled in August following the integration of Hencorp Group’s Global Investor Services and Northeast Securities.
The acquisition of independent broker-dealer Northeast Securities in February boosted the firm’s client assets by more than $5.5 billion, with Henriquez commenting that the combined company would be an ‘undisputed leader’ in the space.
Henriquez wants to make the brand known well beyond Miami too. Like a number of global wealth business owners, he’s currently considering the option of launching a local broker-dealer in Argentina – so watch this space!
This article was originally published in the September 2017 edition of Citywire Americas magazine. To subscribe and receive the magazine