As the direct link between the STANLIB Retail Business and financial advisers, Alan Ehret, Director: Marketing and Business Development, spoke to FAnews about the company’s vision to grow its market share through its partnerships with financial advisers.
Alan Ehret has been with the Standard Group since 1996. He started off in Retail, after which he managed operations and client services. At the time of the Standard Bank and Liberty merger in 2002, Ehret moved into business development on the retail platform side and also worked in the offshore business. This extensive experience has made Ehret the perfect choice for the crucial position he now holds in marketing and business development for the Retail Business within STANLIB.
Surveying the current environment
“Clients are becoming increasingly aware and sophisticated. They are looking for FAs that offer good advice, are well informed and in for the long haul. The evolving investment landscape will ensure that those who provide solid and sound advice as well as tailored portfolios for the benefit of clients, will thrive. Successful FAs have a few common denominators: they provide ongoing affirmation of products sold or solutions provided; they monitor the client’s long-term strategy; they genuinely care about those they advise and are committed to educating clients” says Ehret.
Financial advisors: the primary clients
Ehret explains that FAs are central to STANLIB’s product distribution. “Our primary clients are the FAs. They are critical to our business as the distributors of our products to the end client. We understand that it is important for them to keep their fingers on the pulse of the latest developments in the financial arena. This has become pivotal in modern South Africa and we believe our role as a partner is to help them achieve their personal and their clients’ investment goals.”
It’s about partnerships
“My team and I are responsible for ensuring that we build long-term partnerships between STANLIB’s Retail Business and our FAs, whether they support our products directly or through other linked platforms.”
Ehret says that STANLIB engages FAs through ongoing interactions and presentations, timed according to their needs. “The more familiar FAs become with our products, the more they trust them. Our focus is on building long-term, sustainable partnerships. We want FAs to continue buying into the STANLIB business, with a long-term view and to cement enduring and mutually-beneficial relationships.”
Commenting on the Conflict of Interest regulation, Ehret says that it has not changed the way STANLIB does business with FAs. “We see the Conflict of Interest regulation as beneficial, since it has levelled the playing field in the industry, ensuring that FAs invest with companies they select for the right reasons: the quality of the product and its ability to meet their clients’ needs.”
Service is vital
As a team, we believe that it is critical to have a complete understanding of our FA partners’ business. In order for us to provide them with suitable products and information that will benefit their businesses and their clients, we need to understand what their needs are and how to meet them. It has often been said that our fund range is complex, however we provide a simplified core product suite that offers a tailored proposition to meet specific client needs."
Ehret believes that the support STANLIB provides is a crucial differentiator. “The key to success is providing top quality service and engagement across the board; from one-on-one engagements and presentations to swift and hassle-free administration. We understand the impact that the service we provide can have on an FA’s business as they are investing with us on behalf of their clients.”
Into the future
“We’ve got a task to do and that’s to grow STANLIB’s market share,” comments Ehret about the way forward. “Our key objective over the next three to five years is to make STANLIB a market leader in the retail and investment industry. We want to grow long-term partnerships and build an affinity to the brand within both the FA and the consumer market.”
Get the latest issue of FAnews