RTTNews | Jun 2, 2021 08:29AM EDT

08:29 Wednesday, June 2, 2021 (RTTNews.com) - XP Inc. (XP), a provider of low fee financial products and services in Brazil, commented on the dynamic and high potential investment advisory business in Brazil and, specifically, about the recent developments involving the IFA activity in the country.

XP has developed and invested in the Independent Financial Advisor (IFA) profession since its inception more than twenty years ago, having started as an IFA office and becoming a broker-dealer seven years later.

Incumbent banks continue to reduce costs and consolidate branches. In addition, Brazilians are increasingly searching for better investment options, with both trends likely driving accelerating growth for the IFA profession in the coming years.

XP said it has been one of the most popular destinations for new professionals and will continue to invest to increasingly differentiate the company as the best platform for entrepreneurs.

XP said it reinforces its long-term commitment to all entrepreneurs in Brazil, especially IFAs, which together with the company, has been challenging the status quo of the financial industry and disrupting institutions that have historically exploited concentrated market shares and inflated pricing.

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