“Accessing information doesn’t mean making good decisions”: Why AI Makes Human Guidance More Valuable

Leaving the comfort of the corporate world amid global uncertainty isn’t for everyone. However, for Santiago Queirolo and James Whitelaw—friends since their school days at Stella Maris—the pandemic served as the catalyst for starting a business. With the world on hold, they asked themselves how they wanted to spend the next ten or more years of their careers. The answer was to start a business together. The result is DAVINCI Trusted Partner, a firm that quickly made a splash in the Latin American market, is scaling at a steady pace, and has been recognized by Uruguay XXI as a “Marca País” (Country Brand).

To understand the momentum of a company that managed to establish itself at the speed of a startup, you have to look at its DNA. From day one, its business model was built around the customers’ need to be understood and served personally by DAVINCI. “We decided that DAVINCI would be built on three pillars. First, the asset management firms we represent and our team—we see ourselves as an extension of them; we like to be the driving force, and we take our involvement in their culture very seriously. Second, our clients, who are the ones who trust us. And finally, our philosophy of closeness and building long-term relationships,” explains Queirolo. In this exclusive conversation with Talk Zone, we review his career, the challenges of entrepreneurship, and the future of finance in the age of artificial intelligence.

You built your career at companies like AIVA and Compass Group. What did you take away from those corporate experiences, and how did they prepare you to take the leap and found DAVINCI?

These were two very different, yet complementary, experiences. My ten years at AIVA—a highly innovative company where I had the opportunity to work side by side with independent consultants from all over Latin America—helped me develop a vision centered on closeness, interpersonal relationships, and entrepreneurial spirit. By traveling extensively throughout the region at a very young age, I was able to gain experience and grow both professionally and personally. I then spent a decade at Compass Group (now Vinci Compass), a global company focused on investments and asset management in Latin America, where I embraced the value of well-defined processes and structured organizational discipline, allowing me to deepen my expertise in the private and liquid capital markets.

That combination of skills was key: it gave me the confidence and solid foundation I needed to take the leap into entrepreneurship and found DAVINCI Trusted Partner alongside my partner, James Whitelaw. He brought fourteen years of outstanding experience in the industry at Franklin Templeton, serving institutional clients and intermediaries throughout the region. We complement each other very well, enjoy working together immensely, and share the same values and passion for the business. That trust and shared history form the foundation of our firm.

What is DAVINCI's focus?

Our focus is on the distribution of mutual funds, representing leading international asset management firms such as Jupiter AM, Investec IM, Brookfield, and Edmond de Rothschild AM. These four firms strategically complement one another across different areas and asset classes to build a diversified and efficient portfolio for investors. Our role is to foster a close, personalized relationship between the asset managers and the financial advisor. We seek to add value and provide a committed perspective on the market to help build efficient portfolios and make better investment decisions.

DAVINCI was founded in the midst of the pandemic, when both of them already had established careers at major firms. What was it like to make the decision to leave the corporate world and start from scratch?

It was a time when the world came to a standstill, and it’s inevitable to ask yourself some existential questions. We’re incredibly grateful—James to Templeton and I to Compass—because we were able to grow and meet so many people who believed in us and strongly supported our growth. However, we both felt there was an opportunity to write a new chapter in our lives, looking ten or more years down the road. I had the privilege of being a partner at Compass, James held a regional role at Franklin Templeton, and we came up with the idea of founding DAVINCI together with a clear goal: to build a team that would make an impact and stand out in an extremely competitive market.

It wasn’t an easy decision. It meant stepping out of our comfort zone, and that involves uncertainty, challenges, and fears that typically make it much harder to take the plunge. But we were convinced that, after so many years of building relationships, our advisors and fund managers would support us. That was what drove us to build a company from the ground up with our own culture, values, and team. We took on this challenge with great enthusiasm, a sense of responsibility, and a deep commitment to the project. After six years, we’re convinced that the most important thing in a company is the people who make it up—the team. We’ve managed to build an incredible team based on a culture of professionalism and camaraderie, where everyone can grow and bring out the best in themselves; we share a passion for what we do, and we really enjoy spending time together and helping our clients. Today, there are thirteen of us on the team; we have offices in Montevideo, Argentina, and Chile, and we serve the entire region as well as the United States.

Are new technologies turning financial products and services into commodities? What sets DAVINCI apart?

Financial products are now a commodity, especially with the growing presence of asset management firms in Latin America—particularly in Uruguay, which has established itself as a major financial hub for the region. Given this landscape, the big challenge is how to stand out. Anyone in the industry will tell you that their competitive edge is service, but the real difference lies in a combination of building strong relationships, fostering trust, and proposing responsible investment ideas. Our team is very focused on monitoring the market, the challenges and opportunities that arise, and the solutions we propose—always with the goal of adding value to portfolios and closely supporting our clients.

We combine that human touch with a significant technological edge. We invest in a powerful digital platform to support our close relationships with clients. We developed our own in-house chatbot, which is available 24/7, as well as the DAVINCI Fund Tool. We didn’t hire an external IT company; instead, we developed the technology internally at DAVINCI because, over the years, we’ve come to understand our clients’ needs. Just as people today use on-demand platforms like Netflix or Disney from the comfort of their homes, whenever they want, we strive to ensure our tools offer those same benefits to complement our personalized service. We invest heavily in technology and are convinced that, together with our long-term relationships, it is one of our key differentiators.

For global asset managers such as Brookfield, Jupiter, Edmond de Rothschild, and Investec, why is it appealing to choose DAVINCI as their strategic partner in Latin America?

Our main strength is our proven track record of more than 20 years in the industry, backed by our outstanding team. Our core service is to represent and distribute these top-tier international firms in Latin America and the United States, connecting them with private banks, independent advisors, family offices, and platforms. In essence, we are the strategic partner between the global asset manager and the local intermediary.

On a day-to-day basis, our work focuses on three areas to add value. First, we carefully select investment ideas tailored to current market conditions.

Second, we provide very close support, both technical and commercial. We help advisors make decisions, address their questions, and explain each strategy in depth, outlining why we believe it will yield good results and the associated risks. And finally, we handle all the operational and regulatory burdens for them so they can operate without any issues. At the end of the day, advisors know that, no matter what happens, they will always have our support.

Latin America faces recurring challenges such as legal uncertainty and constant changes in economic policies. How do they factor these elements into their long-term investment strategies and manage them?

We know that Latin America is a region facing changing regulatory, political, and economic conditions, and we address this volatility on two fronts.

For our clients, our main value proposition is precisely to offer them the opportunity to diversify outside the region. We provide access to globally diversified investments in hard currencies, backed by structures regulated to the highest standards. All of our funds are listed in Luxembourg or Ireland under UCITS regulations, which are extremely robust, rigorous, independent, and feature stable rules. Furthermore, our business is based on long-term strategies; we do not make impulsive decisions based on what happens in the region each week or each month. We build a diversified portfolio that can be adjusted, but always guided by a medium- and long-term vision.

Internally, the key also lies in geographic diversification. We have a presence in Argentina, Chile, Brazil, Peru, Colombia, Uruguay, Paraguay, Panama, and the United States. When one market becomes a little more challenging, another offers factors that make it more attractive, and that balance shifts. At the same time, we rely on expert advisors to closely monitor regulations in each country; this is how we anticipate impacts and mitigate risks. Eliminating uncertainty in Latin America is practically impossible, but what you can do is develop a diversified strategy with a long-term horizon to better navigate day-to-day challenges.

Why did they choose to operate from Uruguay as a regional hub?

Our business is fundamentally based on trust, and to that end, it is essential to be based in a country that offers legal and regulatory stability. Uruguay is an investment-grade market with solid institutions and clear rules. Furthermore, it has a long tradition in regional financial services and a Central Bank that is highly active, stable, and transparent in its regulations. The leading private banks in the Southern Cone are based in this ecosystem. Establishing our headquarters in Uruguay provides us with a solid legal and regulatory framework. As we work with top-tier global companies, we must pass extremely rigorous due diligence processes. These audits evaluate not only our company and our track record butalso the country from which we operate. In this regard, Uruguay’s institutional strength gives these international firms a guarantee of complete peace of mind.

What competitive advantages does the Zonamerica ecosystem offer you in your day-to-day business operations?

Zonamerica was the first campus to drive real growth for our industry. For us, its community is essential, since this is where we run into friends and clients every day. We’re big advocates of working in person, which is why we come to the office daily to collaborate as a team and enjoy the surroundings. campus offers a unique combination: first-class offices, cutting-edge technology, complementary services, and impressive architecture—all perfectly integrated with green spaces that make coming to the office a real pleasure.

The truth is, we never considered any other option because we knew our main clients are based here. Establishing our headquarters in Zonamerica was important to us. Plus, Zonamerica supported us from day one and made things so much easier for us. Today, we’re very satisfied and love having our offices in the iconic M2 building, one of Zonamerica’s pioneers.

Given the rise of artificial intelligence and the democratization of technology—where users can build their own portfolios in real time—how do you see the future of investment consulting, and what will be the industry’s next big leap forward?

The democratization of information and access to data are now well-established realities, which we view as very positive because they promote financial inclusion and education in general. In that regard, we have no doubt that artificial intelligence will profoundly transform the industry. However, we are convinced that technology cannot replace the role of the advisor.

Having access to information is not the same as making good decisions. Artificial intelligence will help us manage our finances more efficiently and process data extremely quickly, but precisely for that reason, human guidance becomes infinitely more valuable. Judgment when building a portfolio, planning, and guidance are irreplaceable—especially during the most challenging periods of market volatility, when people need support to avoid making hasty or wrong decisions.

Therefore, I envision the future of the industry as a much more hybrid model. We will use artificial intelligence tools that will allow us to be more efficient and better evaluate the various options when developing an investment strategy, but personalization and the bond of trust between the advisor and the end client constitute a role that artificial intelligence cannot—and will never be able to—replace.

Artificial intelligence acts as a major force for democratization, but at the same time it standardizes service. In this context, could we say that absolute personalization—having someone right there listening to you—has become the “new luxury” in finance?

One hundred percent. There’s simply no substitute for someone who thoroughly understands your financial planning goals, your family dynamics, and the true purpose behind your savings. Defining succession plans or structuring your estate from a tax and fiscal perspective are issues that are far too complex and deeply personal to be resolved by artificial intelligence. That’s why I’m convinced that the role of the financial advisor will not be replaced at all.

What will change, however, is the way we work. At DAVINCI, AI integration is already part of our day-to-day operations. We developed the DAVINCI Fund Tool in-house—a tool designed with a 100% focus on the advisor—which radically changed the way we engage with clients and help them make decisions. It features robust AI capabilities to enhance analysis, but at the end of the day, nothing replaces the personal connection—the coffee, the lunch, and the experience of sitting down to talk with a client to understand their goals and map out the path to achieving them.