  We develop a ${\rm SU}(3)_C\otimes {\rm SU}(3)_L\otimes {\rm U}(1)_X$ model
where the number of fermion generations is fixed by cancellation of gauge
anomalies, being a type of 3-3-1 model with new charged leptons. Similarly to
the economical 3-3-1 models, symmetry breaking is achieved effectively with two
scalar triplets so that the spectrum of scalar particles at the TeV scale
contains just two CP even scalars, one of which is the recently discovered
Higgs boson, plus a charged scalar. Such a scalar sector is simpler than the
one in the Two Higgs Doublet Model, hence more attractive for phenomenological
studies, and has no FCNC mediated by scalars except for the ones induced by the
mixing of SM fermions with heavy fermions. We identify a global residual
symmetry of the model which guarantees mass degeneracies and some massless
fermions whose masses need to be generated by the introduction of effective
operators. The fermion masses so generated require less fine-tuning for most of
the SM fermions and FCNC are naturally suppressed by the small mixing between
the third family of quarks and the rest. The effective setting is justified by
an ultraviolet completion of the model from which the effective operators
emerge naturally. A detailed particle mass spectrum is presented, and an
analysis of the $Z^\prime$ production at the LHC run II is performed to show
that it could be easily detected by considering the invariant mass and
transverse momentum distributions in the dimuon channel.
