The need to build a closer relationship with wealth advisers in volatile economic landscape

Johannesburg - The challenging global and local economic landscape in recent years has made it more important to develop closer relationships with wealth advisers. The impact of the Covid-19 pandemic on the South African economy, coupled with the uncertain political landscape, as well as a shifting tax and regulatory environment,  have been key contributing factors.

Against this backdrop, the need for financial planning and investment management has become more important than ever, as individuals seek to navigate the economic uncertainty and protect their assets with the support and advice of one authorised and qualified adviser.  For those who are creating and building wealth, it has become more critical to have trusted advisers who can help them navigate this complex environment and protect their interests.

Working with a wealth adviser can provide access to expertise in these areas, helping individuals who often require special and personalised banking and wealth management services to navigate changes and plan for the future. The role of an adviser is to offer a high level of service for their clients' financial needs, and ensure their wealth is protected, invested, and grows as per their expectations.

With our ethos to connect clients to more, Nedbank Private Wealth and Nedbank Financial Planning provide customised solutions to each client's unique financial needs.

Here are some ways a wealth manager can support clients in achieving their financial aspirations:

• Investment Management: Understanding the client's goals and preferences, the wealth adviser can create a tailored investment portfolio that can help the client maximise their wealth and achieve their short-term and long-term financial objectives. The portfolio is regularly reviewed with the client to ensure it aligns with their changing needs.
• Wealth Planning: For High Net-Worth individuals, it's important to have a comprehensive wealth plan that takes into account their assets, liabilities, and their long-term financial goals. An adviser can develop a wealth plan that takes into account tax-efficient strategies, retirement planning, trusts, and other tools to help the client meet their wealth management goals.
• Global network: Nedbank Private Wealth and Nedbank Financial Planning have a global network of specialists in various financial fields, such as investment management, trust and estate planning, tax planning, and more. They can connect clients with these specialists as per their needs, to offer a holistic approach to wealth management.
• Banking Solutions: An adviser can provide clients with access to exclusive banking services such as credit cards, lending solutions (whether they need a simple or a more complex loan), and other banking products to help manage their financial needs.

“The current economic landscape in South Africa presents opportunities, risks, and many uncertainties. For those seeking to protect their assets and achieve their financial goals in this complex environment, forming a closer relationship with a wealth adviser can be a game-changer”, says Lizé Visser, Head: Distribution for the Wealth Management SA division at Nedbank.