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Total revenue and income | 3 Months Ended | 12 Months Ended
--- | --- | ---
Mar. 31, 2020 | Dec. 31, 2019
Text Block [Abstract] |  |
Total revenue and income | 16. Total revenue and income a) Net revenue from services rendered Revenue from contracts with customers derives mostly from services rendered and fees charged at daily transactions from customers, therefore mostly recognized at a point in time. Disaggregation of revenue by major service lines are as follows:
|  | Three months period ended March 31, |
|  | 2020 |  |  | 2019 |
Major service lines |  |  |  |  |  |  |  |
Brokerage commission |  |  | 504,644 |  |  |  | 288,819 |
Securities placement |  |  | 348,174 |  |  |  | 160,391 |
Management fees |  |  | 255,049 |  |  |  | 140,858 |
Insurance brokerage fee |  |  | 29,226 |  |  |  | 18,548 |
Educational services |  |  | 25,700 |  |  |  | 13,750 |
Other services |  |  | 94,085 |  |  |  | 43,709 |
|  |  | 1,256,878 |  |  |  | 666,075 |
(-) Sales taxes and contributions on revenue (i) |  |  | (104,932 | ) |  |  | (66,828 | )
|  | 1,151,946 |  |  | 599,247 |
(i) | Mostly related to taxes on services (ISS) and contributions on revenue (PIS and COFINS).
b) Net income from financial instruments
|  | Three months period ended March 31, |
|  | 2020 |  |  | 2019 |
Net Income of financial instruments at fair value through profit or loss |  |  | 391,689 |  |  |  | 274,520 |
Net Income of financial instruments measured at amortized cost and at fair value through other comprehensive income |  |  | 207,299 |  |  |  | 65,822 |
(-) Taxes and contributions on financial income |  |  | (16,093 | ) |  |  | (5,597 | )
|  |  | 582,895 |  |  |  | 334,745 |
c) Disaggregation by geographic location Breakdown of total net revenue and income and selected assets by geographic location:
|  | Three months period ended March 31, |
|  | 2020 |  |  | 2019 |
Brazil |  |  | 1,634,093 |  |  |  | 863,587 |
United Stated of America |  |  | 91,890 |  |  |  | 62,958 |
Europe |  |  | 8,858 |  |  |  | 7,447 |
Total revenue and income |  |  | 1,734,841 |  |  |  | 933,992 |
|  | March 31, 2020 |  |  | December 31, 2019 |
Brazil |  |  | 1,162,433 |  |  |  | 1,208,737 |
United Stated of America |  |  | 147,374 |  |  |  | 224,244 |
Europe |  |  | 7,475 |  |  |  | 16,476 |
Selected assets (i) |  |  | 1,317,282 |  |  |  | 1,449,457 |
(i) | Selected assets are total assets of the Group, less: cash, financial assets and deferred tax assets and are presented by geographic location.
None of the customers represented more than 10% of Group’s revenues for the periods presented. | 26. Total revenue and income a) Net revenue from services rendered Revenue from contracts with customers derives mostly from services rendered and fees charged at daily transactions from customers, therefore mostly recognized at a point in time. Disaggregation of revenue by major service lines are as follows:
|  | 2019 |  |  | 2018 |  |  | 2017 |
Major service lines |  |  |  |  |  |  |  |  |  |  |  |
Brokerage commission |  |  | 1,288,135 |  |  |  | 861,068 |  |  |  | 639,615 |
Securities placement |  |  | 1,154,786 |  |  |  | 631,949 |  |  |  | 401,402 |
Management fees |  |  | 1,035,224 |  |  |  | 527,644 |  |  |  | 221,936 |
Insurance brokerage fee |  |  | 106,438 |  |  |  | 56,713 |  |  |  | 29,167 |
Educational services |  |  | 97,986 |  |  |  | 42,653 |  |  |  | 18,682 |
Other services |  |  | 275,467 |  |  |  | 160,409 |  |  |  | 111,647 |
|  |  | 3,958,036 |  |  |  | 2,280,436 |  |  |  | 1,422,449 |
(-) Sales taxes and contributions on revenue (i) |  |  | (362,264 | ) |  |  | (225,887 | ) |  |  | (138,833 | )
|  | 3,595,772 |  |  | 2,054,549 |  |  | 1,283,616 |
(i) | Mostly related to taxes on services (ISS) and contributions on revenue (PIS and COFINS).
b) Net income from financial instruments
|  | 2019 |  |  | 2018 |  |  | 2017 |
Net Income of financial instruments at fair value through profit or loss |  |  | 1,360,207 |  |  |  | 821,617 |  |  |  | 562,895 |
Net Income of financial instruments measured at amortized cost and at fair value through other comprehensive income |  |  | 199,947 |  |  |  | 114,442 |  |  |  | 79,380 |
(-) Taxes and contributions on financial income |  |  | (28,118 | ) |  |  | (32,155 | ) |  |  | (19,241 | )
|  | 1,532,036 |  |  | 903,904 |  |  | 623,034 |
c) Disaggregation by geographic location
|  | 2019 |  |  | 2018 |  |  | 2017 |
Brazil |  |  | 4,790,236 |  |  |  | 2,716,459 |  |  |  | 1,751,419 |
United States |  |  | 307,456 |  |  |  | 204,207 |  |  |  | 131,198 |
Europe |  |  | 30,116 |  |  |  | 37,787 |  |  |  | 24,033 |
Total Revenue and Income |  |  | 5,127,808 |  |  |  | 2,958,453 |  |  |  | 1,906,650 |
|  | 2019 |  |  | 2018 |  |  |  |
Brazil |  |  | 1,208,737 |  |  |  | 881,434 |  |  |  |  |
United States |  |  | 224,244 |  |  |  | 31,829 |  |  |  |  |
Europe |  |  | 16,476 |  |  |  | 7,556 |  |  |  |  |
Selected assets (i) |  |  | 1,449,457 |  |  |  | 920,819 |  |  |  |  |
(i) | Selected assets are Total assets of the Company, less: financial assets and deferred tax assets and are presented by geographic location.
None of the clients represented more than 10% of our revenues for the periods presented.

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- Definition The entire disclosure for revenue. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2019-01-01 -Paragraph 10 -Subparagraph e -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2019-en-r&anchor=para_10_e&doctype=Standard -URIDate 2019-03-27 + Details
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