Client service and client experience: The main differentiators

Business paradigms are constantly shifting as the technological revolution continues at breathtaking speed. In this rapidly changing world, research shows that client service is still the key differentiator for any successful business and private banks and wealth managers who do not subscribe to this culture, are falling behind. 

“Our goal has always been to be a client-centric business that finds a way to help clients simplify their lives, grow their wealth and protect what matters most to them, locally and internationally. Our differentiation is not what we do, but how we do it. The way we partner with clients is always human, always hi-tech,” says Cumesh Moodliar, head of Investec Private Bank SA.

Out of the ordinary differentiators

Testament to this is the recognition by The Financial Times of London who named Investec as the Private Bank and Wealth Manager in SA for the ninth consecutive year. 

Henry Blumenthal, CEO of Investec Wealth & Investment SA, reports on the achievements which won them the award. “Investec has remained resilient and true to itself during a period of great volatility and unpredictability. This was not only a time of the pandemic, but one in which technology intensified competition and narrowed the margin for client retention.

“Staying true to ourselves has meant we do not seek to be all things to all people. Our aim is to build well-defined, value-adding businesses focused on select market niches where we can compete effectively and build scale and relevance. Investec's positioning is reflected in our iconic brand, hi-tech and high-touch approach, positive contribution to society, macroeconomic stability, and the environment. We value innovative thinking and stimulate extraordinary performance.”

This reflects in business results, which include a 7.6% increase in new private banking clients and a 32% increase in funds under management — all in just one year.

Legacy — an Investec One Place philosophy 

Investec’s banking and investment proposition helps clients realise their goals through a ‘One Place’ philosophy. In a complex world, the financial needs of individuals and families have become even more demanding, Investec has evolved the One Place proposition from banking and investments for the individual to a holistic multigenerational solution that offers services, expertise and platforms to their extended families and future generations.

“Legacy means different things to different people. It’s not just about wealth, an inheritance or intergenerational wealth transfer. It’s where wisdom meets wealth. It’s creating, growing and investing in something beyond yourself. But, a legacy doesn’t happen by chance — it has to be nurtured with care and intention,” says Moodliar. 

Investec One Place brings together the various pieces of this client proposition with a dedicated private banker who connects them to specialists across the business, including wealth managers, investment managers, stockbrokers, life insurance advisers and a tax and fiduciary team. The global client support centre is available 24/7.

Beyond banking

“We take pride in our depth of leadership, and we employ passionate, talented people who are empowered and committed to our mission and values. We believe in forming lifelong partnerships with our clients ensuring that each experience is truly out of the ordinary. We seek new opportunities and evolve with our clients to grow and preserve their long-term wealth in a way that builds enduring legacies future generations can be proud of,” says Moodliar. 

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This article was paid for by Investec.