Warren and Vitra Capital team up and fintech enters wealth management

October 15, 2021
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Warren and Vitra Capital Partners
Fintech doubles in size and reaches R$ 24 billion (US$4,3 billion) under management; for Vitra, one of the largest multi-family offices in the country, business improves its customers' experience with technology

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Warren announces to the market this Friday, the 15th, the merger with Vitra Capital, one of the largest multi-family offices in the country, with 12 billion reais in assets under management. The value of the operation was not disclosed.

Vitra continues to operate under its brand and the same management team, but under the “umbrella” of Warren. Its partners become shareholders of fintech.

With Vitra, Warren, one of the largest investment fintechs in the country, doubles in size. It enters a new market segment, wealth management, and gains access to higher profile products and values ​​to offer the retail investor.

“We are going to democratize what the family office industry delivers. To 'have a coffee' at Vitra, the investor has to have 50 million reais in assets”, said Tito Gusmão, CEO and one of the founders of Warren

According to him, Warren's focus continues to be what he defines as “affluent investor, with 100,000, 200,000, 300,000 reais”, but Warren starts to act in all segments and is strengthened in high income.

For Vitra, which was founded a year ago by former partners of GPS and Consenso — two of the largest and most traditional asset managers in the country — the operation represents access to a technology platform for its development and also for the offer to the families who serve.

For Thiago Fenili, a partner at Vitra, the deal represents a natural next step towards the creation of the house, which he has already defined as “multi-family office 2.0”, with best practices inherited from Consenso.

“We needed to incorporate this technology DNA thinking about the experience of our client, who are traditional Brazilian families”, he added.

The family office industry operates with a third-party structure. It is an industry that has invested a lot in the professionalization of the service, in the allocation of client assets, according to Gusmão.

“It is the union of technology with the best of service in the allocation of assets to the client, which is what family offices deliver”, said the CEO of Warren.

The executives highlighted the convergence of the fiduciary model — known as no conflict of interest — of the two houses, in which managers are remunerated with a fee (a percentage of the total) for the portfolio, and not for the commission of the products sold.

For Roberto Rudge, one of GPS's founding partners in 1999, the operation reinforces the model's appeal without conflict of interest at a time when the commission model is undergoing great expansion thanks to advances in technology and product platforms.

“We are going to modernize and simplify the process for the customer. His contact continues to be with the person on our side, but with gains, for example, in agility and customization”, said Rudge.

“We believe that this union will show the market how technology can generate more value in the relationship with the very high-income investor,” said Fábio SafinI, Chief Commercial Officer (CCO) at Warren.

Las opiniones compartidas y expresadas por los analistas son libres e independientes, y de ellas son responsables sus autores. No reflejan ni comprometen el pensamiento u opinión de Latam Fintech Hub, por lo cual no pueden ser interpretadas como recomendaciones emitidas por la platafomra. Esta plataforma es un espacio abierto para promover la diversidad de puntos de vista sobre el ecosistema Fintech.

Warren announces to the market this Friday, the 15th, the merger with Vitra Capital, one of the largest multi-family offices in the country, with 12 billion reais in assets under management. The value of the operation was not disclosed.

Vitra continues to operate under its brand and the same management team, but under the “umbrella” of Warren. Its partners become shareholders of fintech.

With Vitra, Warren, one of the largest investment fintechs in the country, doubles in size. It enters a new market segment, wealth management, and gains access to higher profile products and values ​​to offer the retail investor.

“We are going to democratize what the family office industry delivers. To 'have a coffee' at Vitra, the investor has to have 50 million reais in assets”, said Tito Gusmão, CEO and one of the founders of Warren

According to him, Warren's focus continues to be what he defines as “affluent investor, with 100,000, 200,000, 300,000 reais”, but Warren starts to act in all segments and is strengthened in high income.

For Vitra, which was founded a year ago by former partners of GPS and Consenso — two of the largest and most traditional asset managers in the country — the operation represents access to a technology platform for its development and also for the offer to the families who serve.

For Thiago Fenili, a partner at Vitra, the deal represents a natural next step towards the creation of the house, which he has already defined as “multi-family office 2.0”, with best practices inherited from Consenso.

“We needed to incorporate this technology DNA thinking about the experience of our client, who are traditional Brazilian families”, he added.

The family office industry operates with a third-party structure. It is an industry that has invested a lot in the professionalization of the service, in the allocation of client assets, according to Gusmão.

“It is the union of technology with the best of service in the allocation of assets to the client, which is what family offices deliver”, said the CEO of Warren.

The executives highlighted the convergence of the fiduciary model — known as no conflict of interest — of the two houses, in which managers are remunerated with a fee (a percentage of the total) for the portfolio, and not for the commission of the products sold.

For Roberto Rudge, one of GPS's founding partners in 1999, the operation reinforces the model's appeal without conflict of interest at a time when the commission model is undergoing great expansion thanks to advances in technology and product platforms.

“We are going to modernize and simplify the process for the customer. His contact continues to be with the person on our side, but with gains, for example, in agility and customization”, said Rudge.

“We believe that this union will show the market how technology can generate more value in the relationship with the very high-income investor,” said Fábio SafinI, Chief Commercial Officer (CCO) at Warren.

Las opiniones compartidas y expresadas por los analistas son libres e independientes, y solamente sus autores son responsables de ellas. No reflejan ni comprometen el pensamiento o la opinión del equipo de Latam Fintech Hub y, por lo tanto, no pueden interpretarse como recomendaciones emitidas por la plataforma. Esta plataforma es un espacio abierto para promover la diversidad de puntos de vista en el ecosistema Fintech.
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