Beyond Wealth

There is much more to high net worth clients than simply having assets worth over a specific threshold, says Jéan Minnaar, Managing Director of Private Clients by Old Mutual Wealth. He believes that clients should be treated as more than just their financial worth.

“Wealth Managers who still categorise high net worth clients solely based on the value of their discretionary investments in dollars or rands are overlooking an essential aspect”

Jéan Minnaar, Managing Director of Private Clients by Old Mutual Wealth

“For these clients, wealth management is about so much more than asset accumulation. It’s about mindset and strategic decision-making, which is why we focus on the intricate complexities involved in guiding these clients across multiple asset locations.”

Clients are incredibly diverse and it is therefore virtually impossible to provide them with a one-size-fits-all solution. “Successfully advising clients lies in understanding that they live and invest as global citizens, prioritising wealth preservation as much as wealth accumulation,” Jéan points out. “We therefore address aspects that extend far beyond asset allocation and portfolio management; these include trust structures, multi-jurisdictional estate planning, fiduciary advice, mechanisms for multi-currency exposure, and determining the most suitable geographic locations to domicile clients’ assets.”

According to Jéan, there has been an ongoing debate in the past decade around local versus offshore investment exposure. However, he argues that this debate misses the mark as it focuses too narrowly on asset management and short-term perspectives, which are not aligned to the needs of clients.

True wealth management requires a shift in thinking toward multi-generational planning and in this context, the question of how much of a family’s wealth should be invested in South Africa changes. “It’s important to recognise that South Africa represents only a small portion of the global investment universe. Clients who are global citizens do not benefit from having a significant portion of their investment capital tied up in local investments,” Jéan says.

With clients’ assets increasingly located offshore, new regulatory challenges arise and it becomes vital for wealth managers to establish connections and partnerships with experts in multi-jurisdictional disciplines such as custody, estates, fiduciary matters, trusts and more.

“In this way, true wealth management is a transformative process that connects various elements to create a powerful outcome. This requires a specific mindset and a depth of expertise,” concludes Jéan. “Ultimately, our role – part custodian, part guide – is to protect clients from costly financial mistakes and help them strike the crucial balance between income, wealth creation and wealth preservation”.

Private Clients by Old Mutual Wealth

Private Clients by Old Mutual Wealth offers holistic, bespoke solutions for high-net-worth clients. We partner with you and various specialists, tapping into the required resources to provide an integrated plan for your holistic financial affairs, including investments, wealth structuring and transfer strategies, proactive tax planning and portfolio lifestyle and administration. Our level of individual attention and interaction is a defining standard in the personal service we provide.

We boast a strong track record in wealth and investment management. As part of a brand that has been growing wealth for South Africans for nearly two centuries, we believe that there is no substitute for experience that comes with managing wealth through various economic and market cycles. Our team, therefore, has several decades of success and experience in successfully working with individuals, families, trusts and entrepreneurs in managing their wealth.