What happened Shares of the Brazilian investment management firm XP Inc. (NASDAQ: XP) had fallen more than 15% on the week at the close of trading Thursday after the company reported key performance indicators (KPIs) for the third quarter earlier in the week. So what On Monday, XP reported several KPIs for the third quarter. While not all bad, the company reported that assets under custody fell 3% from the sequential quarter, and that total net inflows were 37 billion Brazilian real ($6.7 billion) in the third quarter versus 75 billion real in the second quarter. The good news is that active clients on the XP platform grew 5% in the third quarter, and purchase volume on XP's credit card grew 55% from the second quarter as well. CFO Bruno Constantino issued a statement saying, "Despite the more challenging environment, with interest rates in an upward trend, we expect to continue to see a healthy growth pace in our main KPIs, due to a diversified business model and a still highly concentrated financial industry in Brazil." Image source: Getty Images. Now what Brazil's central bank has been raising interest rates, which can impact investing activity and might explain some of the slowing in assets under custody and inflows. But XP is also getting into other banking initiatives it can potentially cross-sell to customers. So more progress on that front might woo investors back into the fold, but it could be bumpy with everything happening in Brazil at the macro level. XP will release its full third-quarter results on Nov. 3. 10 stocks we like better than XP Inc.When our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* They just revealed what they believe are the ten best stocks for investors to buy right now... and XP Inc. wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of September 17, 2021 Bram Berkowitz has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source