Fiduciary

Report
Fiduciary
Video
Fiduciary Structure
Managing Executive
Marcel de Klerk
Executive Assistant
Mac Mokoena
Employee Benefits
Head
Administration
Head Consulting
(Pensions,
New Business
& Health Care)
Amanda Mostert
Cobus Strydom
Absa Trust
Head Actuarial
Head
Asset
Consulting
Regional
Manager
(Coastal Region)
Regional
Manager
(Inland Region)
Regional
Manager
(Trust Services)
National
Manager
(Wills Services)
Manager
(Business
Performance &
Product
Development)
Andre
Bezuidenhout
Johan Gouws
Johan
Swanepoel
Derek Mabin
Vanya
Terblanche
Riaan Botha
Dawie Buys
COO
Human Resources
Finance/CFO
EB Advisory
(Retailisation)
Neels Boshoff
Galeboe Modisapodi
Jacques Erasmus
Mpho Pholokgolo
Absa Trust – Customer Value Proposition
Absa Trust Limited is a registered Trust
Company and provides a comprehensive
range of fiduciary products and services
to facilitate the creation and management
of wealth for customers and their families.
The company’s core business is the
offering of Estate and Trust
Administration Services. The inflow of
assets under management are being
acquired through the offering of the
following fiduciary products and services:
Absa Trust – Customer Value Proposition
Estate Planning
Absa Trust’s Estate
Planning Specialists
construct and implement
plans to minimise estate
duty and income tax while
maximizing asset values.
Absa Trust’s expertise in
these matters is utilised in
full to provide clients with
peace of mind in the
knowledge that their affairs
are in professional hands.
Distribution are being
enabled to offer these
services to their customers
through knowledge transfer.
Wills Services
Absa Trust drafts Wills
which, in most cases,
include the nomination of
Absa Trust as executor of
the estate. The service
includes the safekeeping of
the Will and periodic
reviews. The Will as
product is the main
business driver that will
ultimately result into assets
under administration. Wills
Services only contributes
7.2% of revenue YTD.
Estate Administration
Services
The service includes the
complete administration of
each client’s estate in
accordance with the
instructions stated in the
Will. While the majority of
estates are for clients who
nominated Absa Trust as
executor in their Wills, the
company also administers
Dative or Agency estates.
This source of business is
of critical importance to the
company due to the fact
that it results into direct
income for estates
business. Estate
administration service is the
main contributor of revenue
that equates to 52.1% YTD
Trust Administration
and related services
Absa Trust offers clients a
comprehensive range of
trustee functions. There are
several types of trusts,
including Testamentary,
Inter Vivos / living,
Employee benefit Trusts /
Beneficiary Funds, Thirdparty, Medical and Life
Policy trusts as well as
Agencies and Curatorship's.
Trust Services contributes
37.8% to revenue YTD.
Key Competencies
High
Net Worth
Customer Value
Proposition
Target Market
Private Bank Clients
Business Bank
Sha’riah Bank Clients
Wealth Clients
•
•
•
•
•
Specialised Estate Planning
Drafting of Wills
Safe Custody of Wills
Administering of Estates
Administering of Trusts
Delivery Channels
Strategic Partnership
Private Bankers, EPC’s and Financial
Advisors (AIFA)
Private Bank
Business Bank Relationship
Executives, Business Advisors
(AIFA) and EPC’s
Business Bank
EPC (Sha’riah)
Sha’riah Bank
Absa Wealth Fiduciary Specialists
Absa Wealth
Key Competencies
Retail
Target Market
• Retail Affluent
• Retail Core
Customer Value
Proposition
• Estate Planning
• Drafting of Wills
• Safe custody of Wills
• Administering of Estates
• Administering of Trusts
Delivery Channels
• Retail Bank Consultants
• Financial Advisors (AIFA)
• AFS Non-Advice Consultants
Strategic Partnership
• Retail Bank
• AIFA
• Business Bank
Employee Benefits
Video
The EB Offering
Services
Consulting and
Advisory
Administration
Trustee advisory
(EB Consulting)
Contribution
collection
Asset consulting
/ management
Investment
mandates
Investment
administration
Maintenance of
member records
EB member
advisory channel
Payments of
member benefits
Health care
consulting
Annual Financial
Statements
Actuarial and
regulatory returns
Pension Payroll
Disability
Secretarial and
legal
The EB Offering
Customers
Individuals
Companies
Institutions
The EB Offering
Consultants (EB, asset, health)
Advisors (retailisation)
Channels
Absa Trust Strategic intent for 2013: Themes and Focus Areas
Increase and protect our income
Optimise business efficiencies, reduce
costs and limit losses
To focus on the growing of new business, to optimise
distribution capacity, to increase profitability and excel
on execution:
To continuously improve our business efficiencies and
controls:
•
Implementation of the AFS Non-Advise model
•
Deep dive initiatives and implementation thereof
•
Ensure AFS & Trust Distribution and support the Absa
Trust business objectives
•
Wills end to end process / further automation
Embed new distribution channels – Home loans and
Business Bank via Keystone)
•
LEAN optimisation with Estate Services
•
•
RCA embedment
•
New approach to Agency Estates
•
MI & Productivity
•
Prevent income leakages / review fees
•
Develop alternative distribution channels - internet
Absa Trust Strategic intent for 2013: Themes and Focus Areas
Customer experience (Easy To Do)
People & Culture
Deepen the understanding of customers in order to ensure
competitiveness and consistent customer experience:
Build a visionary culture for Absa Trust in order to establish a
collective ownership and to create a meaningful work life
experience for all stakeholders:
•
Customer insight
•
Implement and maintain CSM customer action plans per
product area
•
Service + Emotional pillars
•
Talent, succession planning & Transformation
•
Drive Value Based Leadership
•
Learning & Development
•
Clarification & implementation of Area Sales Managers
role
•
Meaningful work life
EB 2013 Priorities
4
Risk, control, and governance
2
Stop, Fix, and Grow
profit (Protect and grow
revenue)
1
5
Fix basics/engine
room –
automation,
differentiation,
and segmentation
3
People – Recruitment,
learning and
development, and
leadership
Customer
Supporting initiatives
EB 2013 Priorities
• Automation and
implementation of
MyWork
• New Business
• Capacity /
Recruitment
• Risk, Governance,
and control
• Technology
stabilisation ( clean
slate audit)
• Umbrella Fund
focus
• Learning and
development
• RCA Enablement
• Differentiation per
function offering
• Size of business
and profitability
- Re – price
• Leadership / Culture
• Special projects and
change programmes
• Health care and
Retailisation
- Referral process
• Talent management
• Asset consulting
business model
• Transformation

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