Business Spotlight on Sterling Private Wealth | Approach to wealth management | Joanne Baynham

Gary Alfonso is joined by Wealth Manager at Sterling Private Wealth Joanne Baynham in studio to tell us more about Sterling Private Wealth’s holistic approach to wealth management for high-net-worth individuals.

Hello you’re watching business spotlight i’m gary alfonso and the focus today is on sterling private wealth a subsidiary of the merchant west group sterling private wealth has a holistic approach to wealth management for high net worth individuals to tell us more about this i’m joined by joanne bainam a wealth manager at sterling private wealth which as we said is

A subsidiary of the merchant waste group joanne thank you very much uh for joining us private or sterling private wealth is a niche wealth management business with 13 billion rand in assets under management what are some of the demographics of your clients when our business started over 20 years ago most of our clients were men in their early 40s and 50s senior

Management and entrepreneurs fast forward 20 years and now we’re now looking after all their money so their family money as well so the demographics have changed we have a lot of younger clients but not only that we’ve hired younger wealth managers who can more easily relate to younger clients in their 20s and 30s so that’s also been part of the solution sadly we

Don’t have enough women clients and i would very much like to see that change i think women need to take more responsibility for their money and as a female wealth manager i’m clearly biased thinking that i can probably have a better relationship with a woman than a man can what’s so compelling about sterling’s value proposition that’s seen it grow so steadily

I think trust is one of the biggest reasons we’ve grown we have a most of our businesses grown by word of mouth and they trust us they trust that we don’t put them into very expensive products that enjoy very expensive fees that come to the wealth manager sadly that’s something we do see in our industry trust that we’re independent that if we put them into

In-house funds or models it’s only because the performance warrants it so we’re independent on top of that i like a lot of other wealth managers we encourage our clients not to sell when markets fall but equally which i don’t think is appreciated in markets we also tell clients not to buy when markets are euphoric as they were in 2021. how do client mandates

Your due diligences and selections of offshore and local investment houses coalesce to form an independent advice process we’ve been lucky again having been in the business for a very long time that we’ve interviewed some of the best local fund managers in south africa not only that in my capacity i’ve been at london for 20 years into being global fund managers

So getting some very good insights there we use all these different products houses and funds to also form our asset education views which we think is probably the most important thing when it comes to managing client money and that helps us to be independent some of the hedge fund managers balance managers i’ve interviewed give us some very good ideas and asset

Allocation one of the key things we see at the moment is fixed income markets in south africa with very good returns joan we live in interesting times lots of local and global forces in the markets what’s your outlook for the broader economic environment and the global equity market over the next 12 to 24 months then the first thing we need to recognize is that

Economies are not markets markets are generally driven by liquidity and in that vein we remain quite cautious about global markets given the fed remains in a tightening cycle short-term markets have got very excited they think inflation’s peaked and the fed will change their tactic we’re not so convinced we think inflation stays higher for longer it will take a

Very long time until inflation comes into the two to three percent band that the fed is hoping for so generally speaking we remain cautious in markets clearly from a long-term investor there are lots of opportunities out there but for shorter term clients that are worried about losing money we think capital preservation is more important at the current time so

If clients have money to invest how would they go about investing with you okay well the very easy way to do that is to email me at joanne sterlingwealth.coza i think about the only thing that’s been good about covert is that we’re able to now communicate with each other digitally you don’t have to have a face-to-face meeting anymore with a client to help them

With their portfolios and we also think of portfolios in terms of three l’s l being liquidity does a client need money in the next 12 months l being longevity is the client worried about running out of money what type of portfolio would suit them and legacy the third earl legacy being do i have saved enough money i’m worried about my children i want to make sure

The money’s there for them one day so these all come together when we think about running money well we have to leave it there fascinating such thank you very much joanne bainum wealth manager at sterling private wealth a subsidiary of the merchant west group that’s all from us here in the studio stay on the lookout to hear more about merchant west’s group’s

Offerings and deliverables in the coming weeks goodbye

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Business Spotlight on Sterling Private Wealth | Approach to wealth management | Joanne Baynham By Business Day TV