There is a phrase that is constantly repeated among advisors of investments: “The best time to plant a tree was 20 years ago. The second best moment is now”. And it is that, in a context of high inflation, both in pesos like in dollarssavings under the mattress lose value and it is something that Argentines already have.
The data provided to Ambit by different brokerage houses maintain that More and more people are opening accounts to operate in the capital market. Likewise, interest in financial education seems to increase as the country’s economic situation worsens.
As the Economics graduate explains, Elena Alonsoto this medium, Due to high interest rates and the need to look for alternatives to dollarization and traditional fixed terms, “there is a growing interest among people in opening investment accounts.””.
Alonso adds that this interest has been driven, in part, by the ease of accessing digital platforms through virtual wallets, which eliminated the barrier that previously existed to entering the digital world and opening an account at a broker.
Dollarization: boom in client accounts
From IOL inversonline they register a trend in the opening of accounts to operate in the stock market that “grows day by day.” According to the words of Lorena Malatestamarketing manager, the broker exceeded 650,000 clients and processes more than “seven million transactions in the year”.
However, a striking fact is that currently They open more than 4,000 accounts in a single day and the trend accelerated in August, primary election month (PASSED). “Only until the 31st of said month“We opened 250% more accounts than during the entire year 2022”asserts Malatesta.
Of course, this account opening boom responds, among other factors such as the loss of purchasing power and high inflation, to operations with MEP dollar, which is one of the ways to buy US currency legally and is operated in the capital market; attractive, since it has fewer purchase restrictions than the so-called “solidarity dollar.”
In fact, Malatesta maintains that 25% and 30% of new IOL clients operate MEP dollars “as their first transaction”. And he warns that, searches to buy MEP they grew “more than 500% since the beginning of this year, as well as investment searches in general.
The MEP alone does not justify the boom in clients
The large volume operated in this segment could offer some basis for the boom in client account openings. However, this dynamic is accompanied by a greater appetite for financial educationwhich is also offered in the different brokerage houses.
From Balanz Capitalmaintain that, indeed, there is an upward trend in the opening of accounts for trading, but they highlight that the degree of involvement on the part of clients is greater who “increasingly want to know more about what instruments the market offers and understand how they can incorporate them into the management of your finances.”
From the broker they warn that So far in 2023, demand for training from companies has skyrocketed within the framework of wellness programs for its employees. “From the beginning of this year to today, the amount of training we give about investments and personal finances has doubled.”
Likewise, “the most demanded courses are the initial ones, whose enrollment increases by more than 100% from one edition to the next. In fact, more and more people are signing up for the free talks on products that we do en masse twice a month,” indicates the brokerage house.
Therefore, the numbers show that a democratization of personal finances is being consolidated and that more and more people are encouraged to boost their income by educating themselves to overcome the economic crisis.
Age does not matter: the time is now
And both young people and adults can become familiar with the idea of saving and the importance of controlling their expenses. It is always said that the best time to learn is as children, at home. Well, if you didn’t have that opportunity, the second best time is now.
Oliver Garrigueacademic director of the Finance Program for Non-Financials at the Torcuato Di Tella University (UTDT), shares with this medium that, during the last edition of the aforementioned program, the quota of 60 participants was filled and the profiles are becoming more and more varied.
From the UTDT program People whose jobs range from “executive, managerial, leadership and specialist positions to SME entrepreneurs” participate.. The average age of the participants was 39 yearsin line with that of previous years, from those in their early twenties to their fifties and a little more.”
As Alonso explains, the economic situation that the country is going through is reconfiguring the idiosyncrasy of Argentines. “Within the bad context, the good thing is to start to cheer up and optimize the weights and take care of them a little more,” concludes the economist.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
