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Bank and mistrust are two terms that have become inseparable in recent years. The media boom in scandals, such as the notorious preferred stock fraud in Galicia, created greater distrust among savers who, years later, They hesitate to deposit their savings in banking products. They prefer to leave the money in a term account, despite the fact that it currently does not offer any kind of profitability.

In addition, there is currently no interest on bank deposits. The consequences of inflation. According to the latest studies, Money in the bank has lost 3.3% of its value in the past year. Many believe their money is safe in their account, but nothing could be further from the truth.

During the last decade, the loss of purchasing power has been less because almost every year the CPI has remained below 2%. However, Rising electricity and fuel prices and a supply shortage have caused inflation to explode. Bank money has become less valuable today because with the same money today you can buy less.

Even though there are those who still don’t believe it, keeping money under the mattress isn’t the best solution either. If bank deposits no longer generate interest and the money withheld is less and less, then there are those who wonder:What to do with the money saved? invest it? in which? With what security?

There is another way to invest the money saved Move away from the business practices of banking entities He puts himself in the place of the client who brings him guarantees and security, in an honest and precise manner, to advise him on his savings and derive the best possible benefit from them.

We are talking about Financial advisory firms, also known by their acronym EAF. This figure of financial advisor is regulated by the National Securities Exchange Commission (CNMV) and its purpose is to provide advice in a personal and Help savers get the most out of their savings as they see fit: honestly and transparently.

The Egyptian armed forces are A protagonist in SpainBut in countries with a rich financial culture like the UK, they have over 22,000 financial advisory firms. In the case of Spain, most of these professionals are concentrated in the big cities – Madrid and Barcelona – but in Galicia, in recent years, this number of financial advisers has also gained ground.

Differences between a bank and a financial consulting firm (FAE)

Banks They have enormous power in Spain in the distribution of investment funds, but they also have Major conflict of interest Because the same bank acts both as a seller and as an advisor. In other words, banks always tend to recommend the products they are most interested in, and not to the saver / investor.

Contrary to this dynamic which reduces the confidence of customers in banking entities, financial consulting companies They have an independent personality. Listed on the National Stock Exchange (CNMV)Provide personalized and transparent advice to clients without selling financial products. As the name suggests, it is not a selling entity, but rather an advisor, it will therefore always give the best recommendations to the client, regardless of the commissions it generates.

Proximity is another factor that differentiates banks from FAEs. Unlike banks, where they give commercial advice on the investment product managed by a third party, Financial advisers provide direct and personalized advice on the chosen investment strategy. without intermediaries.

What is a financial advisor and what can they do for your savings?

Javier Accion brings us to his Acción Inversiones office in La Coruña

After having analyzed the main differences between a bank and a financial consulting firm, let’s deepen What EAF can do for your savings. And the best is to do it with one of them, Javier Acción, the first financial advisor registered in A Coruña and founder of Acción Inversores.

Javier, who is launching an informative post-Christmas finance podcast, is clear: “The person giving you advice on your savings can’t be the same person selling you products. The admission he makes of knowing why, because this financial professional has 15 years of experience In the financial markets, after going through Banco Santander and Barclays.

Concretely, thanks to its experience with banking entities, Acción realized that there had to be “Another way to get things done on the client side”. After the first approach to counseling for family projects, Javier Action In 2014, Acción EAF – whose office is located at Calle Linares Rivas – was founded to independently advise small and medium-sized savers and get the most out of their money. How? ‘Or’ What? Thanks to a consulting service that adapts to the personal situation of each client and maximizes its long-term profitability.

Javier Accion, who discovered the growing need for customers, said: Honest, personalized and high-quality financial advice.

Javier Acción supports each of his clients by advising them on the equity-oriented Acción Global FI investment fund, which invests directly and exclusively in quality companies.