Now is your time for Wealth

In the context of banking and more so wealth management, Standard Chartered can be likened to that person. With a history of 100 years in Kenya and 120 globally, the Bank has perfected the art of helping affluent Kenyans grow their wealth today, tomorrow, and forever.

In Kenya today, we have eight million people aged between 25 and 35 with an average salary of Sh 78,000. There are over 7,000-dollar millionaires in the country, and this number is set to grow by 65 percent over the next five to 10 years. We see a terrific opportunity for affluent Kenyans to grow their wealth. That is because today, investing as a share of the GDP stands at only 18.2 percent.

We sat down with Edith Chumba, the Head of Wealth and Retail Banking for Kenya and East Africa, for an enlightening discussion on why the brand is boldy saying Now is your time for wealth why Standard Chartered should be your preferred partner.

Standard Chartered’s rallying call is ‘Now is Your Time for Wealth.’ What does this statement mean to the bank?

Standard Chartered is a leading international wealth manager with global reach and deep local impact in the markets we operate. We have a strong presence in four global wealth hubs, Singapore, Hong Kong, Dubai, and Jersey which enable us to meet local and cross border needs of affluent clients right here.

Locally, for more than 100 years, we have been a trusted financial partner. Today, our clients have collectively entrusted us with $1.8 billion (Sh232.3 billion) in investment assets under management.

This speaks to our expertise in wealth management, wealth solutions and personalised advisory platform that enables us to curate and offer the most innovative product propositions available in the market.

We have also an open architecture approach that provides differentiated and comprehensive wealth solutions across tailored and removes biases in our advisory approach. We partner with globally renowned fund houses like Black Rock, Alliance Bernstein, Amundi, Franklin Templeton etc, to give our clients differentiated and comprehensive investment solutions to meet clients’ evolving needs.

What is unique about Standard Chartered’s approach to advising affluent clients on the investments that are best for them?

We follow a “Today, Tomorrow and Forever” framework when advising our clients on preferred investment solutions. We first understand what their needs are in the present, in the near-term and , when transferring their wealth to their loved ones.

The next step is to create an investment profile for each of our clients. This is an automated profiling platform that ensures the appropriate investments solutions are matched to our clients.

Through our framework, we connect clients to local and international investment solutions that address their needs. This ensures that we help them grow and protect their wealth in a structured manner. Today, 90% of the investment solutions we offer can be accessed digitally through the award-winning SC Mobile app.

You have placed a huge emphasis on the relationship manager (RM). What makes the Standard Chartered RM different?

The Bank has invested strongly in our relationship managers The relationship manager is central in fulfilling our clients’ needs. Three things stand out:

Training: We provide the right environment for the relationship managers to thrive. On top of giving them access to the right working tools, our RMs undertake and certification from the Chartered Institute of Securities and Investments (CISI).

Support: We provide a supportive environment to thrive. Our Relationship Managers are backed by investment, insurance, treasury and mortgage specialists. This ensures that their advice is not biased or limited.

Tools: We provide our RMs with real-time market trends, digital management tools and continuous learning platforms.

There is the often-slippery path of transferring one’s wealth to one’s descendants. How does Standard Chartered help its affluent clients navigate this matter?

In the media today, we are exposed to many legal cases involving wealth transfer. Kenya is in the first generation of wealth transfer and with is comes numerous challenges. As you grow your wealth, we have the expertise to help you plan your legacy ensuring you make the right choices for your future generations. We blend our wealth expertise and advisory approach with reputable legal , insurance partners who help our clients navigate legacy planning.

So, how does one join Standard Chartered?

I welcome you to start your wealth journey today. Email [email protected] to join Standard Chartered.