Fami Capital has reached R$75 billion under management, approximately R$10 billion more than the company had last year when Faros and Messem completed the largest merger in the investment advisory industry. The plan now is to maintain a strong fundraising pace and pursue strategic acquisitions to strengthen its financial services ecosystem.

“We are approached quite frequently by various firms, as the largest player in the market, and we have been talking to many people,” says Mauro Silveira, partner and founder of Fami Capital, to Wealth Point , a NeoFeed program. “We became experts on the subject after our own merger. But to make sense, it's necessary to have a cultural fit and not just add more volume.”

The company believes the wealth management market will consolidate and wants to be a protagonist in this movement. They are targeting both investment advisory firms and wealth management companies. "There are many small advisory and wealth management firms in the market, and we have been talking to several of them to absorb what makes sense for us," says Samy Botsman, who is also a partner at Fami Capital.

Both have experience in M&As and mergers. Silveira, founder of Messem, was approached by Botsman, founder of Faros, at a dinner in the United States. In approximately one year, they built a relationship of trust to create a business that, today, is a diversified business with areas in insurance, foreign exchange, corporate, wealth, asset management, among others. The idea was to join forces to create an investment brokerage, but, with the change in regulation, the plans were postponed in the final stretch to obtain approval.

"When we analyzed whether it still made sense to continue with the 'light' brokerage project, we saw that it would have very little upside , because in reality, a full-service brokerage is still needed to operate. By maintaining it this way, we remain leaner to grow. And, if it's interesting, we will become a full-service brokerage in the future. And after our decision, several other advisory firms followed the same steps," says Silveira.

The fact that it didn't become a brokerage firm, in the end, didn't become a problem. Botsman states that with the decision, "the marriage became lighter." "We were already married and happy, despite being stressed by various bureaucratic processes. Without them, the marriage became lighter, more money came in, and it got even better," says Botsman.

The new regulation also allows Fami Capital to have venture capital partners. According to the company, there are interested investors. However, at this time, the company is not concerned with raising capital for growth, because it already generates more resources than it needs for its objectives.

The two founders of Fami, however, understand that the entry of private equity investors into this business is a matter of time, as happened in the United States and at XP itself. "It's funny to think that we are the size today that XP was when General Atlantic invested in it. We see this as a path for this market, but it will depend a lot on expectations regarding investments in Brazil," says Silveira.

Currently, the only investor partner in Fami Capital, besides XP, is the actor Murilo Benício. "Murilo always asked me to join [as a partner]. He likes the business, he's a savvy guy with a long-term vision," says Botsman.

An expanding financial ecosystem

In investment advisory, the plan is to reach R$ 100 billion under custody by the end of 2025. With the fundraising rate of approximately R$ 2 billion per month seen in 2024, plus portfolio growth, this goal can be achieved organically.

Another area where the investment firm sees great opportunities is in its family office. Renamed Faros Multi Family Office , the consultancy serves families with at least R$25 million in assets across various investment platforms, including internationally, where it has a Registered Independent Adviser (RIA) in the US. Its total assets under advice already exceed R$14 billion.

There is also their asset management arm, Persevera , which seeks to grow both within Fami itself and in the market, and has more than doubled in size this year, exceeding R$ 2 billion under management.

With all these business lines, 30% of the company's revenue no longer comes from investment advisory services.