Total revenue and income

3 Months Ended

12 Months Ended

Mar. 31, 2020

Dec. 31, 2019

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


	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.