“There is a lot of ignorance, there are few qualified financial professionals who are unable to answer or clarify the doubts of an entire population that wants to invest, but who have no idea where or how and how much they can earn, or anything The financial culture in Mexico is not only bad, it is a national security problem,” said Amín Vera, investment director of Invala Family Office.
He added that a lot of people have gotten into big financial scams that should have been obvious and weren’t, losing their life savings in Xifra-type or Omega Pro-type pyramid schemes, for example. “Unfortunately it does not have a direct correlation with the level of education, there are highly educated people and even those who worked in banks, who fell for a scam,” she commented.
If Mexico is compared with Brazil, for example, the degree of bank access that the Brazilian market has is much higher than the Mexican one, there practically everything is paid for with a bank transaction, with a debit or credit card, or through Fintech tools . Brazil is a much more backward country than Mexico in many aspects and even so, it has access to banking services and a penetration of financial services within the population that is decades ahead of here. This is also reflected in the general knowledge that the population has of financial matters.
In Brazil, it is much more difficult to hit a financial hoax, because people, being more banked, are much more aware of how much the rate that they can obtain risk-free really is, they have some idea of what the investment instruments are, of what could be the associated risks and what might be an exaggerated return. Here it is, on the contrary, there is a fundamental ignorance of how to operate the financial market, explained Vera.