Head: Wealth Management

at  Consult by Momentum

INTRODUCTION

Consult is a registered authorised Financial Service Provider (FSP), holding a FSCA Category FSP I and II license. Consult dispenses financial planning, product advice, product execution and investments management services to individuals and businesses in the high net worth, affluent, retail upper and small business enterprises (SME’s) market.
Consult, being an authorized FSP, is able to offer our clients product solutions of all of the major life, health, saving, investments, short term and employee benefits providers in South Africa. We have contracts with 122 product providers in total.
Consult is one of South Africa’s largest and most respected financial planning and advice specialists with a national footprint of 280 financial advisers, including 50 specialist short term advisers, spanning across South Africa. We subscribe to the principles of treating our customers fairly and in doing so, offer our clients industry leading solutions.

REQUIREMENTS

• Degree in Business Management/Investments/Business Sciences/Finance/Economics or related (Master’s Degree preferrable)
• Post graduate diploma in financial planning
• Certified Financial Planner (CFP) or Chartered Financial Analyst (CFA) designation.
• Industry qualification (RE5 & RE1)
• 5-8 Years financial services experiences, particularly in asset wealth management
• 5-8 years of experience in investment marketing arena
• 5- 8 years’ experience in registered financial advisers’ networks and or agencies
• Strong knowledge of investment advice philosophy implementation, the wealth management industry in South African and international markets
• Knowledge of financial markets and investment and their application to local and international
• Legal knowledge, FAIS, exchange control and financial instruments
• In-depth knowledge of:
• Global financial markets and emerging industry trends
• Governance Frameworks
• Wealth Management Strategies
• Investment Advice and Advice processes
• Financial Analysis

ROLE PURPOSE

Involve assessing clients’ financial situations, developing personalized investment strategies, and providing ongoing guidance to optimise their wealth. Regularly review portfolios and adapt strategies to address evolving needs.

DUTIES & RESPONSIBILITIES

Implementation and promotion of the strategic Wealth strategies (Internal perspective):

• Conduct thorough assessments of clients’ financial situations, including assets, liabilities, income, expenses, and investment objectives.
• Develop personalized wealth management plans tailored to each client’s goals, risk tolerance, and time horizon.
• Design and implement investment portfolios aligned with clients’ objectives, utilizing a mix of asset classes and investment vehicles.
• Provide guidance on retirement planning, estate planning, tax optimization, insurance coverage, and other aspects of comprehensive financial planning.
• Continuously monitor clients’ portfolios and financial plans, adjusting as needed based on changing circumstances, market conditions, and regulatory changes.
• Educate Financial Advisers on investment strategies, market trends, and financial planning concepts, and maintain regular communication to keep them informed and engaged.
• Execute on Wealth strategies and frameworks across the distribution channel.
• Execute on Wealth strategic initiatives to drive business growth.
• Assist with identifying emerging trends and opportunities in financial technology.
• Ensure support with the client base, risk profiles, and objectives specific to the channel.
• Implement financial planning and advice strategies, philosophies, and processes aligned with respective channel’s goals and objectives.
• Conduct in-depth financial analysis to identify opportunities for cost optimization, revenue enhancement, and risk mitigation.
• Implement standardized processes and best practices for delivering financial advice, ensuring alignment with the business advice strategy, regulatory requirements, industry standards, and organizational goals.
• Ensure compliance with regulatory requirements and internal standards.
• Implement risk management strategies and frameworks for the channel.
• Provide guidance and oversight on risk management practices, ensuring appropriate controls are in place to mitigate risks.
• Conduct research to stay at the forefront of market trends, economic developments, and legislative changes affecting the channel.
• Identify unique opportunities and challenges within the channel.
• Collaborate with channel-specific business development teams to identify growth opportunities and attract new clients.
• Drive strategies to increase assets under management/-advice for the channel.
• Promote the connection between Investment Philosophy, Risk profile, Elite Wealth Process and advice deployment plan.
• Promote investment behaviour to our advisers based on the Momentum Advice wealth philosophy.
• Promote Structure and Fee optimisation.

Advice Wealth processes in a channel-specific and client centric manner to contribute to client growth, engagement, and sound wealth management advice (Client perspective):

• Collaborate closely with all stakeholders responsible for the channel, ensuring strategies align with the channel’s unique characteristics, strategic objectives, and goals.
• Build close relationships with business and practices; whereby, facilitating investment workshops.
• Focus on satisfying the wealth creation, preservation and income needs of clients, as well as the wealth management support service needs of the under-licence Channel.
• Champion a client-centric culture throughout the organization, emphasizing the importance of delivering personalized, high-quality wealth advice.
• Identify and create strategic partnerships with relevant stakeholders to understand business priorities and requirements.
• Provide credible and appropriate market wealth insights expertise with the purpose to enable client growth and retention.
• Build and maintain relationships to deliver on service level agreements with regards to professionalism, accountability, and competitive targets.
• Work in conjunction with brand and marketing managers to deploy effective strategies towards wealth growth, engagement, and sound wealth advice.
• Liaise and collaborate with wealth management team on the implementation of operational plans.
• Develop ongoing, frequent engagement and marketing activities in support of investment, savings, and wealth management proposition.

Effectively lead team (People):

• Establish productive, professional relationships with key stakeholders in the channel.
• Attract, select and recruit suitably qualified talent in line with Employment Equity principles, Momentum Advice Growth plan and MMH values.
• Create a positive work climate and culture to energise employees and network of advisers.
• Demonstrate exemplary leadership through personal involvement, inclusive leadership, commitment, and dedication in support of organisational values.
• Drive a culture that guides and directs best practice, fostering an environment of continuous learning, improvement and cohesiveness.
• Execute effective workforce planning practices to ensure that staffing requirements are accurately forecasted and executed.
• Identify employee and advisor growth and development needs and collaborate with relevant stakeholders to ensure interventions enabling ongoing development, training and personal growth.
• Effectively drive performance excellence within the team to ensure business objectives are achieved by setting team goals and having regular dialogue to achieve meaningful and significant impact.
• Encourage innovation, ensure integrity in communication, change agility and collaboration within the team.

Ensure Efficient and Effective Practice(Finance):

• Budget management and implementation of sound financial controls.
• Control the budget for area, including the authorisation of expenditures and implementation of financial regulations.
• Identify solutions to enhance cost effectiveness and increase operational efficiency.
• Implement risk management, governance and compliance policies in own practice area, to identify and manage governance and risk exposure.
• Participate in the effectiveness of financial policy, practice and procedures preventing illegal, unethical or improper conduct.