Tax regimes that align with financial development objectives, robust regulatory and legal frameworks that protect investors, strong corporate governance standards, and regulatory changes that encourage greater risk-taking were identified to help attract investors across all segments. While Colombia has made significant progress in developing a local investor base – especially pension funds – the equity market could benefit from a larger and broader investment base and specifically, from additional shorter-term investors with more speculative strategy. Brands and companies have the power to share their values and identity through series of Advertisement Examples. Insurers, mutual funds, hedge funds and family offices were identified as key groups to lead to a more liquid market with a wider range of investors and a broader suite of professionally managed capital market products.