Economic & Marketing Research

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Advanced Research Center, Inc.

Founded in 1986 by Lerroy López Morales to provide companies with valuable economic and marketing information, useful in the decision making process.

In these competitive times, knowledge is power. Let us become your research staff for the knowledge you need about your market, your competitors and the needs of your customers. At Advanced Research we can help you with custom research, market analysis, feasibility studies, special offers monitoring (FACTS), economic research for litigation, financial analysis and any other research need so that you can refine your strategy, improve your performance and, ultimately, your bottom line.

Antonio J. Fernós Sagebién
Vice President

As an experienced economist, practicing financial analyst, public finance officer and university professor with business acumen always aiming to identify, explore, and evaluate a project’s solutions to save time and money. Antonio Fernós is a testifying expert specializing in loss causation and economic damages. Frequent areas of expert testimony include: (i) market structure (in financial markets and in antitrust disputes), (ii) finance (including securities and institutional structure), (iii) feasibility and regional economic analysis with emphasis on risk mitigation and risk treatment strategies in development disputes, (iv) and damages disputes.

Antonio is currently an Associate Professor (with tenure) in Finance at the Inter-American University in San Juan, PR. Prior to joining academia, Antonio worked at Banco Santander Puerto Rico as a credit risk manager, and at Doral Bank as a portfolio manager and director/vice president of economic affairs. At Doral, he worked directly with the CEO.

Antonio’s commercial banking strengths are loss and delinquency forecasting, portfolio risk management, credit policy, risk measurement, portfolio performance and repurchase models after his government service. His expertise in public finance facilitated his role as leader of a task force of 17 economists, statisticians and tax experts who provided advice to the Secretary of the Treasury of Puerto Rico on tax policy, tax revenue, tax reform, best use of tax credits and incentives and tax forecasting. He is an effective communicator, astute negotiator, and a cross-functional leader who can facilitate internal/external stakeholder communication. In this role, Antonio served as the senior policymaker on economics questions for the Secretary of the Treasury covering economic and financial affairs as well (i) overseeing economic analysis of key matters, (ii) integrating economic analysis with legal analysis for the Legislation and Tax Policy Office.

Antonio earned a Ph.D. with concentrations in Corporate Finance and Financial Intermediation from Tulane University’s A.B. Freeman School of Business. He also earned an Master’s degree in Economics from Tufts University in Massachusetts with a specialization in Financial Economics and a Master’s degree from the University of Puerto Rico (High Honors) with specialization in Econometrics. His doctoral work measured the economic effect of the level of access to information marks the degree market efficiency hence lowering cost of funding – in particular, measuring whether and under what circumstances the degree of cultural diversity in the US municipal debt market funding has a pricing matrix. Antonio is frequently asked to lecture on fiscal, financial and economic issues for forums, radio, television and the general media both in and outside Puerto Rico.”


Services Area

All PR


Monday – Friday
7:00 am – 4:00 pm

Current Clients (Facts)
  • Abbot Laboratories
  • ACH Food Co. (Mazola)
  • B. Fernández
  • Coca Cola
  • Frito Lay's
  • Puerto Rico Supplies
  • Conagra Foods
  • Colgate-Palmolive
  • SC Johnson
  • Méndez & Co
  • Pepsi Cola
  • Pfizer Consumer HC
  • V. Suárez
  • Welch's
  • PR Coffee Roasters
  • DPSG (Dr. Pepper Snapple Group)
  • CC1 (Empresas Kikuet)
  • Cervecera de PR