FAQs

What is the relationship between XP Inc and the Independent Financial Advisers (IFAs)?

The IFAs are representatives of XP, which means they use our infrastructure and product platform in order to provide services for their clients. For that service, they receive commissions and are subject to compliance, audit, training and suitability rules imposed by both the regulators and XP.

What commissions are paid to the IFAs?

The IFAs are paid through commissions on products (fixed income, funds, etc) or through a fixed annual percentage fee on the client’s total assets. This compensation model is agreed upon between the IFA and the client.

What are XP Inc’s main revenue streams?

1) Retail: investment accounts and investment products distribution to both individuals and companies; 2) Institutional: securities intermediation for both national and international institutional clients; 3) Corporate & Issuer Services: derivatives, equity and bond issuance (ECM and DCM), M&A and other financial advisory services for companies.

What are the main products offered by XP Inc?

In the Retail segment (our largest segment) we have available to our clients: Funds, Fixed Income Securities, Stocks, Futures, Derivatives, Structured Products, Pension Funds, Life Insurance, among others.

What revenues are included in “Net Income from Financial Instruments”?

In this line, complementary to Net Income from Services Rendered, are the revenue streams from securities intermediation in Over the Counter (OTC) markets, such as Fixed Income Securities and Derivatives, and other revenues related to credit and floating. It is important to highlight that these results are almost entirely related to the flow generated by both our retail and institutional clients, and do not represent proprietary positions that could incur in any directional risks.

What is XP’s take rate?

Take rate is our profitability metric related to revenues over Assets Under Custody. Take Rate = Retail Revenues in the last twelve months/Average AUC (Sum of AUC from beginning of period and each quarter end in a given year, being 5 data points in one year)/5)

What is the long term sustainability of XP Inc’s effective tax rate?

Our effective tax rate is a result of our product mix that generates the group’s total revenues and expenses. We believe that, as our banking revenues grow in the future, our reported effective tax rate should also gradually increase, since those revenues are subject to a higher level of taxes.

What are XP Inc’s official guidances?

We currently have two official guidances: (i) Annual EBT Margin from 30% to 34% between in 2026; (ii) Annual Total Gross Revenue from R$22.8bn to R$26.8bn in 2026.

What is XP Inc’s dividend policy?

XP Inc. does not have an official dividend policy.

What are the views of XP Inc on having a greater diversity and independence among its board members?

Diversity and inclusion is a very important matter for us here at XP Inc, not only at our Board of Directors. We study and work hard every day in order for us to have a more diverse company in the near future.

What is XP Inc’s vision for the Open Banking in Brazil?

We believe the Open Baking initiative by the Central Bank is very positive and disruptive for the financial sector as a whole, once it empowers clients in an open financial market, fostering competition and innovation in the industry. The agenda has very similar ambitions to ours, and we are preparing ourselves internally in order to better serve our clients within this new context.