Investment advisory for companies.
An Argentine broker (ALyC) beats the bank. We make the broker’s service even better, at no extra cost to your company.
The mistake that’s costing companies millions
Most companies run all of their financial operations through the bank.
It’s convenient. But it’s expensive.
- Surplus cash in the bank’s money market fund
- Hedging limited to what the branch offers
- Financing through the bank’s own credit lines
Adding a broker and the capital markets makes the difference on all three fronts.
It sits in the bank’s money market fund or in a fixed-term deposit.
~17.7% to 18% a yearLecaps (short-term Treasury bills in pesos), repos (cauciones), and money market funds matched to your cash flow, without giving up liquidity. CER (inflation-linked) bonds: inflation + 7.5%.
~25% a year · +4 to 6 pointsYour cash stays in pesos, at a fixed rate and short term, whatever the economy does.
A single betCER bonds, the official and MEP dollar, dollar-denominated corporate bonds (ONs), currency and interest-rate futures, equities, and metals.
A strategy for every scenarioOn top of the rate, you pay VAT on the interest, stamp tax, and the bank’s fees.
You pay VAT, stamp tax, and feesRepos, exchange-traded promissory notes (pagarés bursátiles), deferred-payment checks on the MAV (Mercado Argentino de Valores) backed by an SGR (mutual guarantee company), and ONs: VAT-exempt, no bank fees and, depending on the instrument, no stamp tax.
Several points lower total costIt’s convenient. But it’s expensive.
Higher returns, hedging for every scenario, and lower financing costs, with the same fees as trading directly with the broker.
Nominal annual rates · reference values as of August 2026.
One treasury, several brokers, a single point of contact
Large companies usually hold accounts at several brokers,
and it’s the finance team that has to:
- Request quotes
- Compare terms
- Place instructions
- Consolidate the information
The company keeps its accounts in its own name at the brokers of its choice and appoints CDI Capital as advisor across all of them: a single point of contact.
We find your best financing
Your companyTreasury / finance team
We advise, the broker executes.
CDI Capital is a corporate Agente Productor registered with the Comisión Nacional de Valores (CNV), Argentina’s securities regulator: an independent, regulated investment advisor that neither holds client funds nor executes orders. That separation ensures our advice is aligned with the company and the company alone.
- Ownership
- Accounts in the company’s name
- Custody
- Securities held at Caja de Valores
- Extra cost
- None
An ALyC (Agente de Liquidación y Compensación, a clearing and settlement agent) is a broker-dealer regulated by the CNV: it executes, but owns nothing. The funds always belong to the company.
A broker beats the bank. We make the broker’s service better.
At a broker, the company is served by a salesperson: strategy comes down as generic model portfolios, and whoever makes the recommendation has incentives to place the firm’s own products. It’s not a people problem; it’s how the model is designed.
Generic model portfolios, defined far from the client.
Designed around the company’s cash flow, currency, and time horizon.
TailoredWhoever makes the recommendation has incentives to place the firm’s own products.
ConflictedWe don’t sell in-house products, and we don’t get paid to place anyone else’s.
No conflicts of interestA salesperson.
A team of highly experienced professionals who oversee the execution of every order.
Dedicated teamThe broker’s fees.
The same fees as trading directly with the broker.
No extra costHow to get started
Four steps, without moving funds out of the company’s accounts.
From that level up, the difference between working with the bank alone and adding a broker with independent advice becomes significant.
Book a diagnostic meeting →Account opening and appointment
The company opens (or keeps) accounts in its own name at the brokers of its choice and appoints CDI Capital as its advisor. The funds never leave the company’s accounts.
- Accounts in the company’s name
- Appointment as advisor
Diagnostic meeting
Together with your finance team, we analyze cash flow, exposure to each scenario, and financing needs.
- Cash flow
- Exposure to each scenario
- Financing
Tailored proposal
We present a concrete strategy for surplus cash, hedging, and financing, built on the company’s own numbers.
- Built on the company’s numbers
Ongoing support
Continuous follow-up from the team, execution oversight, and a strategy review whenever the scenario changes.
- Execution oversight
- Review with every change in scenario
What we stand for
The wealth advisory division of Club de Inversores, founded and led by Miguel Boggiano and Tomás Olivera. In Argentina we operate as an Agente Productor regulated by the CNV; abroad, through Carta Financiera S.A. Either way, the account is always in the client’s name.
The biggest risks are rarely where everyone is looking, but where no one questions them.
No conflicts of interest
100% independent: no in-house products and no pressure from banks or brokers.
Risk-first
First, how much could be lost; then, how much could be gained.
No dogma
What worked over the last forty years is not a law of nature.
Tailored solutions
No single model portfolio works for everyone.
Tax and estate planning at the core
Designed alongside the portfolio, not after the fact.
Experience
Over 25 years in the US, Argentina, and alternative assets.
Exceptional service
Direct access to the senior team, always available.
A tailored strategy to get ready
In 2027 Argentina elects a president, and election years bring the usual: volatility in the dollar, in rates, and in bonds, and decisions made while the information shifts week by week. Cash that simply follows the scenario of the moment is late to every move.
The range of capital-markets instruments exists precisely for this: deciding today how much cash stays in pesos and how much is hedged, with which instruments and over what terms, and adjusting the strategy as the scenario takes shape. It’s work tailored to each company, and it’s the work we do.
Our team.
Professionals with decades of experience in markets, private banking, asset management, and tax planning. Same team, same advisor, for 10, 15, 20 years.
Miguel Boggiano
Founder & DirectorFounded CDI Capital. 25+ years in the markets.
Tomás Olivera
CEO & Co-founderLeads CDI’s strategy and operations.
Agustín Beret
Managing PartnerHeads the Comprehensive Wealth Advisory unit.
Blas Díaz Saubidet
Head of Wealth ManagementDesigns and executes institutional portfolios.
Juan Pablo Asprella
Head of Financial Advisory & Project ManagerSenior wealth advisor.
Santiago Arrastoa
Financial AdvisorSenior wealth advisor.
Máximo Portais
Financial AdvisorWealth advisor.Research & Operations
SupportMacro research and operations team.Glossary
The terms used on this page, in plain words.
ALyC
Agente de Liquidación y Compensación (clearing and settlement agent): the CNV-regulated broker-dealer through which a company trades in the capital markets.
Agente Productor
An independent investment advisor, registered with and regulated by the CNV. It advises the client; the ALyC executes and holds custody.
Brokerage account (cuenta comitente)
An account in the company’s name at an ALyC, where securities and funds are held for trading in the capital markets.
Lecaps
Short-term Argentine Treasury bills in pesos. The core instrument of the surplus-cash strategy.
Dollar-linked / CER
Instruments whose value tracks the official dollar or inflation (CER). They are the foundation for hedging cash against each scenario.
MAV
Mercado Argentino de Valores, the exchange where deferred-payment checks and other small-business financing instruments are discounted.
SGR
Sociedad de Garantía Recíproca (mutual guarantee company): guarantees a company’s checks so they can be discounted on the MAV at a lower rate.
CFT
Costo financiero total (total financial cost): the real rate of a financing, including interest, taxes, fees, and expenses. It’s the number to compare, not the nominal annual rate (TNA).
Let’s review your company’s cash.
Together with your finance team, we analyze cash flow, exposure to each scenario, and financing needs. Then we present a concrete strategy, built on the company’s own numbers.
- The account always stays in the company’s name.
- The same fees as trading directly with the broker.
- An independent advisor, regulated by the CNV.
Tell us about your company.
Your details go straight to our team. We reply within one business day.