Transcript

Andrew Simpson: Nedbank Private Wealth is a boutique wealth management business that prides itself on building lasting relationships with clients and their advisers.

We certainly don’t believe in a one-size-fits all model, and we don’t just talk about investments. It’s part of our DNA to get to know about our clients and find out what really makes them tick. We invest time with clients, and this gives us the ability to be curious so we can get a deep understanding of them as people, their priorities, their ambitions and goals.

This understanding helps us tailor our conversations and services to meet clients and their families’ needs now and in the future.

Huw Williams is one of our senior bankers who puts that approach into action every day.

Huw Williams: Divorce can be extremely upsetting and disorientating and can often involve huge transformation and personal change in a client’s life. And, in my experience, even the strongest individual can be knocked sideways.

The financial aspects of divorce are far-reaching, and we are able to help clients with this, especially if for many years during their marriage, managing finances may have been taken care of by their spouse. In these instances, it can often be an overwhelming experience to suddenly be faced with new responsibilities coupled with the often painful and acrimonious divorce process.

People who are very successful and used to being in control can be particularly badly affected as they don’t expect to feel like this and may not be used to reaching out for support and advice.

Having good professionals to help them understand the dynamics of what they’re dealing with is really vital and is something that’s often overlooked or not seen as important at the time.

As clients progress through the process of divorce, I found that predominantly there’s a distinct need for support beyond the legal and financial that you would normally expect. While some clients may choose to go it alone, the majority of private clients, especially those who have significant wealth and lead complex lives that may see them living in more than one country, choose to be represented by a professional.

I believe it’s really important for clients to choose advisers who see them as a whole person, and most importantly, listen to what they want. Following an introduction from a family lawyer, a client needs to choose someone they feel has an empathy with them and understands their particular circumstances, but at the same time is also professional and can provide vital emotional support during a very vulnerable time.

This personal approach to client service is one that I and all my fellow private bankers at Nedbank Private Wealth pride ourselves in offering to all of our clients.

Andrew Simpson: We are the trusted partner of family law firms just like you across the UK, Isle of Man and Jersey. We have experience in helping clients plan their finances for all of life’s eventualities, whether that be going through a divorce or unexpectedly inheriting wealth.

We understand the anxiety these life events can cause, and we are there every step of the way providing clarity and helping clients plan for the future with confidence. One of the firms we work with is Stuarts and one of their family lawyers, Richard Hogwood, shared his thoughts on what makes the partnership with Nedbank Private Wealth so successful.

A Lawyer’s Perspective

Richard Hogwood: So, we tend to be involved with clients in a very intense, difficult period of their life, but hopefully a relatively short-term period.

What they then need is to rebuild probably the trust and confidence that they lost as part of the divorce process, and that’s not something we can do longer term. Our role is inevitably short-lived, and we need in turn to pass the baton on really to someone who can help that support that client for many, many years to come.

We can’t be there giving financial advice. We can’t ascertain whether the settlements they’re going to get are going to provide a certain lifestyle in the future. That’s where we need the help of someone like Nedbank, someone who can come in, meet our clients early on, assist them with perhaps negotiating the settlement, or ascertaining what their level of needs are, or understanding their financial arrangements and give them the confidence that they’re going to be okay in the future.

The question we’re often asked by clients is, will I be okay? Will I be able to sustain my lifestyle? And these are matters that Nedbank can help advise on and assist with going forwards and really help that client rebuild their confidence and their trust that things are going to be okay in the future.

We will often have the situation where we’re asked to advise and recommend who might be able to come and work with our clients, and we’ll try to understand what they’re looking for in an organisation.

Do they want someone that offers banking? Do they want a more boutique, bespoke service? Almost invariably, people want the personal touch. It’s a very personal situation that they come to us in. They want to feel that there’s someone to take the time to really listen to them, to understand what their needs are, what their sensitivities are, what their life plans were, and what those life plans might now be.

And we feel that Nedbank is perfect at achieving those goals with our clients. They’ll handle them sensitively and also in a way that gives us, as well as the clients confidence that they’ll be well looked after. As such, we’re always keen to involve Nedbank with our clients where we can, to give them that guiding hand, and as I say, to pass on the baton into the future.

Andrew Simpson: If you’d like to find out more about us as a firm or how we could help you and your clients, please feel free to either call me or email me on the details currently on the screen.