Finax Blog

Information which helps you to invest properly.

We are becoming more transparent - client assets in Finax have been verified by an auditor

Are you also angry when financial institutions withhold information from you or make it inaccessible? Since the foundation, Finax has opted for a different approach. And we are taking the transparency one step further.

Juraj Hrbatý | News | 4. June 2021

Before Rado and I founded Finax, we both worked in companies in which provision of information to clients beyond the law was off limits. No one wanted clients to see how much the company makes off them, or how much of the clients’ assets is being managed.

In Finax, we decided to change these practices. We want to share data of the entire company with you just as transparently as we manage your money.

If clients are to trust us, we must be able to "strip naked" in front of them. Because faith alone is not enough when dealing with money, you need to have complete certainty.

As a first step, we decided to prove that we actually hold the assets we manage for our clients.

In addition to the law, we asked our auditor, BDO, which ranks 5th worldwide in the provision of audit services, to verify the value of assets under our management as of December 31, 2020.  

Finax holds client assets separately from its own asset, in accounts that are designated as client accounts. This is a legal requirement and the NBS, as a regulator, strictly oversees this.

Show auditor’s report

Securities are purchased through Linear Investments Ltd, which also manages these securities. Moreover, we also have a portion of cash under their manager. Remaining cash is in our account in renowned Central European banks: Tatra bank, Česká spořitelna, mBank, OTP and Raiffeisenbank Croatia.

The volume of assets under management was at the end of 2020 in the amount of EUR 78,581,880 and it corresponds to the declared volume of client assets.

Finax has made a commitment to disclose client assets on a regular basis in the future, so that we continue to build trust of our clients. Your trust is the most valuable asset for us.

Juraj Hrbatý
Juraj Hrbatý
Chief Executive Officer
No keywords found
Share article
| |

Most read articles

Want to know more? Attend our webinars! |
2. July 2020

Want to know more? Meet us online or attend our webinars!

Why should you invest? What are the advantages of investing with Finax? Are you looking for a help with investing or planning your finances? Do you want to learn how to invest properly? Meet us online or attend our free webinars to learn more.

Read more
Book review: Rich dad, poor dad |
25. November 2020

Book review: Rich dad, poor dad

This book made me look at money from a different perspective than I had known before. Everyone who is interested in managing their personal finances in a better way should read this book. It should be a part of your path to financial literacy.

Read more
Are ETFs a bubble? |
27. November 2019

Are ETFs a bubble?

Recently, there have been reports going around in the media criticizing passive investing and warning of ETFs. Among the authors of these negative news can be found not only legendary investors, but also Slovak brokers. Do investments in ETFs really carry a higher risk? Finax has built the portfolios on these great tools, so we see it as our duty to clarify this matter.

Read more
13. January 2023

How Many Actively Managed Mutual Funds Regularly Beat the Market?

In times of declining markets, it's easy to dismiss passive investing. After all, markets do fall, and holding indices that replicate them guarantees a loss. Many start looking around for actively managed mutual funds during such times. How many of these have managed to deliver above-average returns on a regular basis in recent years? We looked at the numbers.

Read more
We are happy to advise you!
Schedule a call