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Case study: constant attention while overseas

A client who was came to the bank feeling let-down by her previous wealth manager knows she does not have to be in the UK to receive a high level of service.
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Vicky was forced to find a new private bank when her existing bank decided that the level of investment required to keep up with regulatory requirements across multiple lines was uneconomical.

As her bank withdrew from the UK market, she faced a three week deadline to find and open a new account and have her deposit balance remitted.

 

Deep down Vicky wanted the reassurance that a professional would always be looking after her, and her wealth, and about to identify a long-term match for her requirements.

The support of a private bank

After a short meeting with a Nedbank Private Wealth banker, Vicky opened an account in the UK in both Sterling and Euros. As well as living in the UK, Vicky spends time at her winery in Italy, often hosting friends at harvest time to help bring in the crop. She found having an account in Euros especially useful as it allowed her to take control over the timing of her foreign exchange, enabling better decisions with regard to exchange rates.

Shortly after opening her account, Vicky started to invested her surplus cash in Nedbank Private Wealth’s discretionary investment management service. The advice service, a number of investment reviews, the regularity of portfolio updates and the reassurance which came from dealing with her private banker led her to ask if Nedbank Private Wealth could manage the funds held within a charity for which she is a trustee.

As Vicky had inherited her father’s business, she was also appointed as a trustee of a UK charity, which received a proportion of the business’s profits. After a number of years of profit contributions, the charitable funds were significant. With the closure of her previous bank, the ‘assets’ were sold them onto another investment manager. Three years after the forced transfer, Vicky felt ‘orphaned’ due to the lack of contact from the investment house.

The results

Her experience at Nedbank Private Wealth, where a private banker regularly reviewed her finances, took an interest in her life, and occasionally invited to a social event with other clients, led Vicky to request an investment proposal from Nedbank Private Wealth for the charity funds. Following its receipt, Vicky was convinced that the best place for the charity’s funds was also with Nedbank Private Wealth and set-up a meeting with the other trustees so that they could review the opportunity.

Now, while Vicky maintains her father’s business legacy and tends to her winery, she is happy to know that she is always in her private banker’s thoughts.

Clients of Nedbank Private Wealth can get in touch with their private banker directly to understand how wealth planning can help them achieve their financial goals and objectives, or call +44 (0)1624 645000 to speak to our client services team.

 

If you would like to find out more about how we can help you with wealth planning support, please contact us on the same number as above, or complete the contact us form using the link below.

Investment values can go down, as well as up, to the extent that you might get back less than you originally invested. The value of your investments may also be affected by exchange rates. The inclusion of any investment structures and wrappers is for information only and should not be taken as advice or a recommendation. You should seek the necessary advice, specific to your circumstances, before making any financial decision. 

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