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MX23_FI_INVESTED_christian

MEXICO - Finance

Christian Hauswaldt Álvarez

CEO, Invested

Bio

Christian Hauswaldt Álvarez has worked in the financial industry for more than 20 years. He is an angel investor and board member of several companies in the fintech and healthcare sectors. He is the founder of Invested, where he is currently CEO. He holds a degree in business administration from Universidad Iberoamericana and a postgraduate degree in finance from EGADE. He continued his education with the digital transformation program from ISDI, the D1 program at IPADE, and the Aligning Strategy and Sales at Harvard Business School.

"Right now, we are working with more than 100 companies in Mexico, and by 2024, we want to enter other countries."
Invested is a financial wellness company that provides solutions in Latam such as financial wellness programs and financial planning models.
Why is it important to promote financial wellness programs in Mexico?

Some companies around the world offer their employees financial wellness programs as part of their benefit offering; in Mexico this is not a common practice. We started working with companies on this many years ago, though with the pandemic, companies started focusing more on their people. In the last three years, companies have started to work more with us, and their employees are becoming more interested in financial wellness programs. We see a great opportunity here. In Canada, for example, 50% of the middle class invest in the stock market compared to less than 4% of the population in Mexico. Many people have a bank account though these accounts have limited resources. They are not yet investing their money. There is also a different culture. In Mexico, there are only a few companies working in financial wellness solutions, and they do not necessarily help people to use and invest their money in a smart way so they can reach their objectives.

What are the first steps when doing a financial evaluation of employees in a company?

First, we run a simple and useful survey among the employees, and we give the company a big picture of how concerned its employees are about financial stress and many other indicators. With this, we create a program that has a hybrid approach. We work with technology digital content and tools we deliver with our financial wellness platform. At the same time, we also have financial planners and advisors who work with employees and meet some of the needs that cannot be handled with technology. In financial planning, we definitely need a hybrid approach. We have worked on technology for some processes that are complicated to do by hand, and we use human approach for other aspects. We work with many companies, including Vanguard and the Mexican stock market. Financial wellness for employees is too big to be ignored.

In what ways can financial awareness help increase productivity and profit in companies?

We are pleased to be raising the level of awareness about financial issues. In 2022, we worked with more than 50 companies and conducted a survey about financial problems. We found that 80% of Mexicans face financial stress, and this 80% spend around 14 hours a month worrying about their financial issues. We help companies by providing the tools to work with their employees and create some solutions. We want to grow bigger and help more people. We have spoken to companies in all the states of Mexico and want to create concrete solutions for people, companies, and the country. Some 70% of large companies in the US have such programs; this is one of the most valuable benefits for employees. We believe this will soon take off in Mexico as well. In 2021, we started working with a big Company in Mexico that is doing amazing things for its team. We started a program for 200 employees in the beginning. They were extremely satisfied with the content and financial coaching we provided, and the employees started to talk more about us and recommend this to everyone. We are now expanding our reach, having more than 1,200 employees benefiting from the program. right now, we are working to provide webinars to 1,200 employees of a company.

What are the next steps for the company?

Right now, we are working with more than 100 companies in Mexico, and by 2024, we want to enter other countries. We have started working with some companies in Brazil and Colombia and plan to move up to the next level. We are not competing against financial institutions or other players; we are competing against other things that people use their money on. This is one of the problems: we are competing against the short-term mentality.

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