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Old mutual wealth tailored funds portfolio first investment manager in SA certified for fiduciary exellence

26 March 2019 Roland Grabe, Investment manager, Head of Old Mutual Tailored Fund Portfolio at Old Mutual
Roland Grabe, Investment manager, Head of Old Mutual Tailored Fund Portfolio at Old Mutual

Roland Grabe, Investment manager, Head of Old Mutual Tailored Fund Portfolio at Old Mutual

Old Mutual Wealth’s Tailored Funds Portfolio (TFP) capability is the first investment manager in South Africa to receive certification for fiduciary excellence from the Centre for Fiduciary Excellence (CEFEX), further cementing its fiduciary commitment to clients.

Commenting on this achievement, Roland Grabe, Head of Old Mutual Tailored Fund Portfolio, says that the industry has been in urgent need of an objective and external body to conduct the due diligence which is critical in ensuring client centricity. “By going through the detailed CEFEX auditing process, we hope – through complete transparency – to demonstrate our unwavering commitment to always act in in the best interest of clients. It is crucial that asset managers recognise the responsibility that fiduciary care places on business decisions. We believe that responsible investing and fiduciary care are essential in driving sustainable business practices in the industry.”

The Old Mutual Tailored Funds Portfolio is Old Mutual Wealth’s Discretionary Fund Management offering. The TFP business gives financial planners and investors the opportunity to create tailor-made portfolios aimed at achieving very specific individual financial goals.

“We are very honoured to be the first investment manager in SA to receive the certification. The certification is testament to the work we do and I believe that it really sets us apart as an investment manager that strives for excellence in everything we do. The work that CEFEX is doing internationally is adding great value to the financial services industry. By having an accreditation for standardisation for financial services providers, we are moving in the right direction, giving clients peace of mind that their money is being managed in the best possible way to benefit them,” says Grabe.

Carlos Panksep, Managing Director of the Centre for Fiduciary Excellence, explains that the TFP business was subject to a rigorous audit process, involving financial performance and operational data verification followed by on-site interviews with key staff members. “The CEFEX certification proves TFP’s investment integrity while it shows investors that their trust in the business is warranted. Through the independent assessment, the certification provides assurance to investors that TFP has demonstrated adherence to the industry’s best fiduciary practices.”

Panksep explains that standardisation has been in place for many years in the automotive, manufacturing and food industries. CEFEX therefore decided to apply the same standardisation practices within the financial services industry, globally. “The CEFEX quality assurance awards a seal of approval to financial services providers who meet the standards as set out by the International Organisation for Standardization. Investors can therefore rest assured that their service provider is a trusted organisation and that due diligence are being checked and monitored against global best-practice,” he says.

Grabe believes that CEFEX provides a key solution to the South African financial services industry in ensuring independent verification of the operating models and processes in asset management as well as financial advice.

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