Avenue is a comprehensive financial services platform that caters to individuals seeking to manage their finances on a global scale.
With its user-friendly interface, Avenue enables customers to invest in international markets, maintain multi-currency accounts, and perform seamless cross-border transactions. Avenue's services include Avenue Securities, which offers investment opportunities in US stocks, bonds, and ETFs, and Avenue Cash, which provides international payment and transfer solutions, including a globally accepted debit card.
Based in Miami (FL), Avenue serves over 900,000 clients, offering tailored financial solutions such as fixed-income investments, mutual funds, and personalized advisory services.
Objective
InnReg’s objective was to guide Avenue, a broker-dealer serving international retail investors, through the regulatory complexities of operating across multiple jurisdictions, leading to a strategic acquisition by a major financial institution.
Background
Avenue’s goal was to establish a US broker-dealer and registered investment advisor serving international retail investors. It sought guidance from InnReg on navigating the regulatory complexities of operating across multiple jurisdictions.
The client’s focus was on bringing investment alternatives and digital accounts in the United States to Latin American clients based on a regulated structure across the US and Brazil. In the United States, Avenue relied on a broker-dealer and a financial advisory firm; in Brazil, they provided clients with a simplified experience in accessing the US market.
Avenue had a strong business model and was experiencing rapid growth, but needed expert assistance to mitigate regulatory risk during its organizational phase and expansion.
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Challenges
The client faced several key challenges:
Securing regulatory approval to operate as a US broker-dealer and registered investment advisor.
Navigating the operational and regulatory complexities of operating as a broker-dealer across multiple jurisdictions.
Mitigating regulatory risk during a period of rapid growth and expansion.
InnReg's Solution
InnReg strategically guided and supported Avenue throughout its journey:
Regulatory Navigation:
InnReg provided expert guidance on navigating the regulatory complexities of operating as a broker-dealer across multiple jurisdictions, mitigating regulatory risk.Growth Support:
During the client's period of rapid growth and expansion, InnReg served as a strategic partner, providing ongoing regulatory guidance and support.
Client Results
Avenue successfully navigated the regulatory complexities of operating as a broker-dealer across multiple jurisdictions, experienced rapid growth and expansion, and smoothly transitioned to an acquisition by a major financial institution.
Throughout this journey, the client maintained regulatory compliance, thanks to InnReg’s strategic guidance and support.
