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REVIEW SUMMARY

Nedbank Private Wealth

Nedbank Private Wealth is 100% owned by Nedbank Group Limited, a bank holding company that has been listed on the Johannesburg Stock Exchange since 1969.  

It offers a range of wholesale and retail banking services, which includes a wealth offering and their sister company, Nedbank Private Wealth South Africa.

The Nedbank Private Wealth brand was launched in 2012 when both companies were brought together under the Nedbank brand.

Nedbank Private Wealth is dedicated to delivering a tailored service across wealth planning, investment management and private banking for discerning high-net-worth individuals, families and trustees.

Overview
FAQ
Customer Reviews
Expert Verdict

Offshore banking services, such as those offered by Nedbank Private Wealth, can benefit international professionals because no matter where you live or work, your money can be safe offshore in a well-regulated jurisdiction.

The three primary services offered by Nedbank Private Wealth are:

  1. Wealth planning
  2. Investment management
  3. Private banking

Whether you’re looking for international banking, saving options or borrowing, their private banking service provides a solid foundation for managing your wealth. 

Nedbank Private Wealth's banking services can be summed up below:


1. Current account:

You can choose their current accounts with 24/7 access to your money via their online or mobile banking services.

  • Access to UK and international banking services providing accounts in a choice of 15 major currencies.
  • Day-to-day transactional banking, such as standing orders, direct debits, international payments and transfers.
2. Fixed-term deposit:

Nedbank Private Wealth enables you to earn more from low-risk, short-term cash deposits in any currency - you’re in charge of deciding how long you’d like to deposit money for.

  • They agree on a competitive interest rate with you, which is fixed for the term.
  • They also offer institutional and wholesale deposit services.

3. Visa platinum debit card:

Available as separate cards to access Sterling, Euros or US Dollars - their visa platinum debit cards give you instant access to your money 24 hours a day, seven days a week, from anywhere in the world.
  • As a cardholder, you will have access to an estimated three and a half million cash machines in more than 200 countries and territories worldwide.
  • A dedicated visa contact telephone number is provided for all their visa platinum cardholders.
  • Current and historical visa transactions are available online or via the mobile app.

4. Foreign exchange services:

Nedbank Private Wealth's comprehensive range of foreign exchange facilities provide you with a range of services including:
  • Spot pricing and deal execution in 15 currencies.
  • Hedging facilities and forward foreign exchange contracts.
  • Limit orders for foreign exchange transactions at pre-agreed levels.
Their experienced in-house treasury team works with your private banker to help you to conduct transactions as needed, or at pre-set market levels, with the ability to immediately quote rates and execute transactions for 15 major currencies.

For those who trade over £1 million a year in foreign exchange trades, you may be eligible for their FX Direct service. 

Nedbank Private Wealth also offers residential and portfolio lending.

With bespoke lending solutions, you can borrow by securing against a range of investments or UK property – giving you the flexibility you need, without compromising on your long-term financial goals.

Loans can be in Sterling, Euros or US Dollars.

Nedbank Private Wealth's investment management approach is designed to provide for a robust and repeatable process. Portfolios are diversified globally, with no home bias, and use currency management to broaden the investment universe without compromise.

The investment strategies offered by Nedbank Private Wealth are as follows:

  1. Global income:
    The global income investment strategy aims to generate an income with low volatility and can include or exclude UK situs assets. Their global exposure, with managed currency overlay, reflects a more progressive approach to strategic asset allocation. With this strategy, you can choose to receive a regular income stream or reinvest your returns in Euros, Sterling or US Dollars.
  2. Global multi-asset:
    Their risk-rated, multi-asset investment strategies are designed to meet global investment needs. The strategies include global cautious, global balanced, global steady growth and global growth. They can include or exclude UK situs assets. Investments can be managed in Euros, Sterling or US Dollars.
  3. Global equity:
    The global equity investment strategy is designed by Nedbank Private Wealth to meet the needs of clients that are seeking pure equity exposure, while benefiting from the strength of their investment research capabilities and risk management framework. It can include or exclude UK situs assets. Investments can be managed in Euros, Sterling or US Dollars.

NOTES:

  • Nedbank Private Wealth's open architecture banking and investment platform includes international private banking services in up to 15 major currencies and a choice of investment solutions - including a range of multi-asset funds and segregated discretionary portfolios. 
  • Borrowing can be negotiated against invested assets and UK property – including UK properties. 
  • Pensions, ISAs (in it's London branch), SIPPS, trusts and tax wrappers, such as offshore bonds, can all be consolidated with a single point of access.
  • Nedbank Private Wealth has won a large number of awards for their high level of service and traditional values.
  • DIY, intermediated and discretionary options are all available.
  • It is not, however, suitable for clients with a small amount of wealth to manage or invest due to transfer, dealing and custody charges associated with individual services.
  • Learn more in the expert verdict section of this review.

 

The Pros

> Full flexibility
> Boutique size
> No commission
> No term required
> No hidden charges
> Multi-award winning
> High level of personal service
> Integrated banking and investment services

The Cons

> More suitable for high-net-worth individuals
> Part of a group that frequently changes name/shape
What can I borrow against?

Subject to status, with Nedbank Private Wealth, lending can be secured against a range of assets, including investment holdings and property.

This approach brings significant additional flexibility to the management of a private banking and/or investment portfolio.

What are the benefits of appointing Nedbank Private Wealth as my investment manager?

On appointing Nedbank Private Wealth as your investment manager, you benefit from:

  • A portfolio constructed according to your risk appetite, as determined by your personal preferences and financial goals.
  • Access to a specialist team that pursues the best global opportunities to meet your objectives.
  • A wide spectrum of investment strategies from a global universe of investment opportunities, with no home bias.
  • Diversification across assets, companies, geographies and industry sectors.
  • Active currency management allows them to be truly global.

Their wide range of risk-rated investment options, help you achieve your wealth goals, whether you need capital growth or income.

What is Nedgroup Trust?

Nedgroup Trust ensures your accumulated wealth benefits you and your future generations through their trusts and fiduciary services.

  • They offer the security of being part of a large multinational group, with offices in well-regulated and stable jurisdictions.
  • They treat the assets you entrust to their care with confidentiality, placing a premium on information security.
  • They have access to the services of their wider group, including Nedbank Private Wealth.
  • They have a large qualified trust team, with expertise in the administration of a broad range of assets (beyond the investible) across multiple jurisdictions. They also have long-serving staff which enables you to build a long-term relationship with a trusted adviser.
 

 

Does Nedbank Private Wealth provide online and mobile banking?

Yes, Nedbank Private Wealth provides online and mobile banking.

Managing your money becomes quick and easy, with the ability to make transfers and payments whenever and wherever you choose.

How do I benefit with online access?

Whenever you log in to their online wealth services, you can be reassured that you are on a secure, encrypted session and can message their team with confidence. 

The features include:

  • Enhanced login security with a one-time passcode, which can be delivered to you by SMS, a hardware token, automated voice call or email.
  • Shared features across both desktop and mobile platforms.
  • A consolidated home screen overview of your wealth with Nedbank Private Wealth.
  • A personal document store so you can download and save your statements and valuations online.
  • If you hold one of their discretionary investment strategies, you can view how your portfolio has performed over any time frame.
  • Easy access to your Visa Platinum PINs, with no need to wait for paper reminders.
  • Make fast, secure payments globally, and create and manage your favourite payees.

Exceeded my expectations

Having never worked with a private bank before, I wasn't sure I was eligible for an account with Nedbank Private Wealth - after speaking to them I was quickly assured I was eligible and indeed, that they'd be able to exceed my expectations.

I use my account for the management of ALL my money needs - banking, credit, lending and investing.

Have to say, I'm surprised when more people haven't heard of banking like this!

Expert Assessment of Nedbank Private Wealth

In our view, the transparency, security and flexibility offered by the Nedbank Focus platform affords senior international profesisionals an excellent foundation on which to build and manage their wealth.

The availability of funds, including ETFs, is impressive, which aligns with our own strategy of evidence-based investing.

This platform comes highly recommended by AES, whether you are a financial planning and investment client of ours, or not.

For more information, contact us today.

Nedbank Private Wealth - Introduction Brochure

Nedbank Private Wealth - Wealth Planning Brochure

Nedbank Private Wealth - Investment Management Brochure

Nedbank Private Wealth - Private Banking Brochure

Nedbank Private Wealth - Tariff of Charges

Nedbank Private Wealth - Non-Personal Accounts Tariff of Charges

Nedbank Private Wealth - Focus Account Terms and Conditions

Nedbank Private Wealth - Amendments To The Focus Account Terms and Conditions

Nedbank Private Wealth - Privacy Notice

Nedbank Private Wealth - Nedgroup Trust Terms and Conditions

Nedbank Private Wealth - Nedgroup Trust Privacy Notice

Nedbank Private Wealth - Payment Services Guide

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