Wealth & Finance International - March 2017

Wealth & Finance International 16 No Loss of Interest bsa Bank, part of Barclays Africa Group Limited, is a diver- sified financial services provider listed on the Johannesburg Stock Exchange. The bank supplies South Africa’s first truly integrated, full-service offering that combines the best of local and global expertise. They understand that true wealth extends beyond money, and their client-centric mandate embraces both the scientific elements of investment decision-making and the emotional comfort that accompanies it. This approach is supported by their: • Access to world-class technology and product expertise and; • Intimate knowledge of local market dynamics to provide appropriate and competitive solutions within sub-Saharan Africa. From private banking and investment management to philanthropy and succession planning, Wealth Management, Absa Bank is a trusted pro- vider when it comes to professional advice and co-ordinated solutions. Absa Bank’s investment philosophy is the cornerstone of their Wealth Management offering. Through it, they aim to understand your unique needs in order to provide a personalised investment portfolio. To achieve these financial goals, Absa Bank are committed to creating portfolios comprising diversified investments across multiple asset classes that achieve sustainable growth, while mitigating risk. The organisation’s Wealth Management Division services high net worth individuals and provides cradle to grave solutions, from advice and risk management to wealth creation and preservation through their high- touch model. The business offerings include a range of products and investment instruments to suit Ultra High Net Worth, High Net Worth and Family Office clients, and also includes stockbroking and portfolio management services. In terms of receiving the Finest in Finance - Best in Wealth Manage- ment - South Africa award, the firm’s Managing Principal, Head Wealth Management and Global Investments and Solutions, Winston Monale says that it is always good to be acknowledged by public surveys and relevant journals. “It is an honour for us and is always an indication of the firm’s effort and of how clients are experiencing us, so that is rewarding for us.” Winston is responsible for the overall Absa Wealth Management business incorporating Absa Stock Brokers, ABAM Private Clients and Absa Advisory. “Feedback helps us to improve on our product set or service value proposition, and when we are told what our competitors are doing, this really helps from a benchmarking perspective. HNWI require a higher level of service and to discern what their needs are, so from our per- spective, we need the agility to service them.” “Over the last few years, we have placed a significant amount of effort on how we service our clients. We have done much work to introduce a more integrated level of service, and we bring specialisation to our clients right at the start of our conversation with them. We determine very early on what kind of conversation our client wants and we get that expertise in the first interaction with them. “Added to this, much of our success has been driven by understanding our clients’ needs, being proactive and entrench the level of trust be- tween Absa and the client. The more they trust us, the more comfort- able the client is to discuss their financial needs and this enhances our ability to provide them with the correct investment solutions.” Winston then reveals his specific role at Absa, which is to manage stockbroking and portfolio management, as well as wealth advisory and investment solutions. His role is to set the strategy and execute it, plus managing risk and the broader stakeholder management side of the business internally and externally. Winston then goes on to outline the wider work of Absa bank, explaining that they have many teams, but the focus is really on the front-end cli- ent interactions because that is where the firm’s success is driven. Absa Wealth bankers and wealth managers have a very niche selection of HNW clients bring in bespoke solutions Winston goes on to say, before discussing the firm’s challenges in the future. “The macro headwinds are where the greatest challenges for Absa Wealth, specifically the relatively constrained economic growth envi- ronment, so the macro environment allows us to further seek bespoke solutions for clients. The evolving regulatory space and the attendant increase in costs will be a headwind for the industry as a whole, so the question for the industry is how to remain relevant for the client, and provide them with the best possible banking services.” Company: Absa Wealth Name: Winston Monale Email: [email protected] Web Address: www.absa.co.za/wim Address: 2nd Floor, Sandton Campus South, 15 Alice Lane, Sandton, South Africa 2000 Telephone: +27 (0) 10 245 4378 Finest in Finance - Best in Wealth Management - South Africa A 1703WF31