|
|
|
Wealth Management 2005 from
|
|
Tried and trusted
" By Haydn Taylor
Managing director, stockbroking and asset management division, Standard Bank
Wealth management solutions encompass multi-asset managed investment portfolios, hedge funds, bank deposits, and more specialist products
As part of this service, conventional stockbrokers and asset managers need to offer a diverse range of products to satisfy ever-increasing client needs.
Traditionally, many stockbrokers have attracted clients by reputation, becoming their ‘trusted adviser’. Investment performance has not always been a key factor in determining who is chosen to act in this role; however, it is now becoming a key differentiator between the many market participants. Equally, the ability to take a holistic view of the client’s assets, liabilities, income and expenditure is of paramount importance and is essential to the delivery of appropriate advice based on a comprehensive picture of their financial position and objectives.
Wealth management solutions nowadays often encompass multi-asset managed investment portfolios, structured products, hedge funds and bank deposits, as well as more specialist products which focus on such areas as emerging markets, commodities or private equity, depending on the client’s appetite for risk.
Standard Bank’s wealth offering in Jersey comprises a team of private bankers supported by a wide range of investment services and products provided by the stockbroking and asset management teams, who also directly support a large locally based group of professional intermediaries including trustees, lawyers and accountants.
The bank has built up a significant local client base on the back of its banking, stockbroking and asset management activities over the years. These clients now benefit from a sophisticated bespoke wealth management service designed to deliver what our clients want and not what we wish to sell to them. We believe that this fundamentally differentiates us from many of our competitors in the wealth management arena. Our services range from discretionary or advisory managed portfolios to banking, global custody and lending against investments or property.
The ability to provide access to both in-house and third-party products and services which provide superior performance is fundamental to a successful wealth management offering.
By way of example, the bank has over a period of time been moving its discretionary clients’ equity exposure into its own locally managed best-of-breed multi-manager global equity fund, Strategist Funds, which has achieved considerable success, attracting a five-star Standard and Poor’s rating for its sterling performance over a three-year period.
This is fed through into all portfolio strategies adopting a degree of equity exposure and has enabled the asset management team to achieve superior performance for Standard Bank clients across their portfolios.
In undertaking the role of ‘trusted adviser’, our focus has been on attracting and retaining highly qualified and skilled staff which is essential to developing and maintaining a successful long-term relationship.
High staff turn-over and changes in corporate ownership and philosophy often result in significant client – and indeed staff – dissatisfaction; we have therefore strived to maintain continuity of both personnel and management style while at the same time recognising the need to evolve to meet the challenges of a changing marketplace. As a consequence, many of our team have worked with us for 15 years or more, developing their skill sets through a combination of training, qualifications and, perhaps most important of all, experience.
We believe this positions us strongly for the delivery of a comprehensive wealth management solution to both locally resident and internationally based private clients.
|
|
|
|
