Grow your wealth with SA’s Top Private Bank: Nedbank Private Wealth

Private banking is an important focus area for SA’s leading financial service providers as it involves high-income individuals who have a significant impact on growing the country's economy.

Nedbank Private Wealth has been recognised as SA’s Top Private Bank by industry-leading research firm Intellidex and was also lauded as the Best Private Bank in Africa at the 2023 Global Private Banking Innovation Awards.

• Click here to contact a Nedbank Private Wealth consultant.

As the clear leader in the private banking sector, Nedbank Private Wealth is constantly looking to the future to see which trends will have the biggest impact on the industry and the country.

Emigration

The significant emigration trend in SA is well documented and affects the private banking sector more than most, as many emigrants are high-income individuals.

The industry generally agrees that the growth rates and sizes of the high-net-worth and ultra-high-net-worth income bands are declining relative to other South African income bands — and a big reason for this is emigration.

As individuals in the more affluent income bands are attracted to wealthier countries such as the US, England, Australia and New Zealand, many are actively looking to relocate to these countries.

However, Nedbank Private Wealth believes it has prepared as well as is possible for this scenario through its International Nedbank Private Wealth business.

With support from experts in the UK, Guernsey, the UAE, Jersey and the Isle of Man, Nedbank Private Wealth is well-equipped to assist its customers — even if they no longer live in SA.

Embracing a larger client pool

Another effective way that Nedbank continues to grow its private banking client base is by allowing more South Africans to qualify for its services.

It offers a Private Clients service that, while “targeted” at people earning R750,000 a year or more, is available to anyone regardless of their income.

Not only does this increase the pool of private banking clients in SA; it helps those who sit below the R750,000 a year recommended income to improve their wealth management.

This allows more individuals to increase their wealth and income to a point where they qualify as “traditional” private banking clients.

When combined with projections for increased economic growth in the future, Nedbank is confident that the private banking client pool will grow significantly in the years to come.

Begin your private banking journey

There has never been a better time to embrace private banking — and Nedbank Private Wealth is ready to assist you.

Its team of highly qualified consultants are ready to give you all the advice you need to grow your wealth in a way that suits your lifestyle and financial goals.

Click here to contact a Nedbank Private Wealth consultant.

This article was sponsored by Nedbank Private Wealth.