Company Overview

XP Inc. is a technology-driven financial services holding company that operates primarily in investment brokerage, wealth management, asset management, and financial advisory services. The company serves the Brazilian financial services market, offering access to investment products, credit, insurance, and advisory solutions through a digital platform model. XP Inc. is listed on the Nasdaq Global Select Market and functions as the holding entity for a group of operating subsidiaries that deliver services to retail and institutional clients.

The company’s core revenue drivers include brokerage commissions, distribution fees from investment products, asset management fees, and financial advisory revenues. XP Inc. is known for its independent investment platform, which differentiates it from traditional bank-led financial institutions in Brazil. Founded in 2001, the company evolved from a small brokerage into one of Brazil’s largest independent investment platforms, benefiting from regulatory changes, increased financial market participation, and a shift toward open architecture investment distribution.

Business Operations

XP Inc. conducts its operations through multiple business lines encompassing retail brokerage, wealth management, institutional services, asset management, and financial products distribution. The company generates revenue primarily through transaction-based fees, recurring management fees, and advisory income. Its principal operating subsidiary, XP Investimentos, anchors the group’s retail investment and advisory activities, while other subsidiaries focus on asset management, credit, and insurance distribution.

Operations are predominantly domestic, with Brazil accounting for the majority of revenue and clients. XP Inc. controls proprietary digital platforms, investment advisory networks, and technology infrastructure that support financial advisors and end clients. The company also maintains partnerships with independent financial advisors and product providers, enabling a broad range of third-party investment offerings alongside in-house products.

Strategic Position & Investments

XP Inc.’s strategic direction emphasizes continued growth in wealth management penetration, expansion of recurring revenue streams, and increased client engagement through technology and advisor networks. The company has invested in scaling its advisory ecosystem, enhancing digital capabilities, and broadening its product portfolio across investments, credit, and insurance.

Historically, XP Inc. has pursued selective acquisitions and minority investments to strengthen its platform and advisor network, including stakes in advisory firms and fintech-related businesses. Notable subsidiaries and portfolio interests are aligned with asset management, financial education, and technology-enabled advisory services. The company is also engaged in emerging areas such as digital financial distribution and data-driven advisory tools, though the financial impact of these initiatives varies by period.

Geographic Footprint

XP Inc. is headquartered in Brazil, with its primary operational and revenue base concentrated in the country’s major financial centers. The company’s platform serves clients across all regions of Brazil, supported by a nationwide network of independent financial advisors and digital channels.

While international operations are limited, XP Inc. maintains a corporate presence in the United States as part of its public listing and investor relations activities. Its international exposure is primarily strategic rather than operational, with influence driven by capital markets access and global investment product distribution rather than large-scale foreign operations.

Leadership & Governance

XP Inc. was founded by Guilherme Benchimol, who remains a central figure in the company’s governance and long-term strategic vision, emphasizing independence, client-centricity, and financial education. The leadership team includes executives with backgrounds in investment banking, asset management, and technology-enabled financial services, reflecting the company’s hybrid financial and technology model.

Key executives include:

• Guilherme Benchimol – Executive Chairman and Founder
• Thiago Maffra – Chief Executive Officer
• Bruno Constantino – Chief Financial Officer
• José Berenguer – Chief Executive Officer, XP Investimentos
• Pedro Mesquita – Chief Investment Officer

The company operates under a board-led governance structure consistent with U.S. public company standards, with oversight of strategy, risk management, and executive compensation.