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Maybank Private Wealth – Giving the Right Investment Advice


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Mr Alvin Lee, Maybank Head of Group Wealth Management and Community Financial Services Singapore.

MORE investors in Asia are choosing to take a more active role in managing their portfolios, leading to a growing demand for investment advisory services (IAS) provided by financial institutions such as private banks.

According to Mr Alvin Lee, Maybank Head of Group Wealth Management and Community Financial Services Singapore, much of the wealth created by affluent families in Asia has occurred in the first and second generations, compared to their counterparts in developed markets, where wealth has been in the family for far longer.

“Hence, the desire to retain control over their wealth is still very strong amongst Asian clients,” says Mr Lee. Maybank Private Wealth was awarded the Gold for Investment Advisory Services at the BENCHMARK Private Wealth Awards 2017.

“However, while many investors believe that they can outperform the market through their securities-picking abilities, it is our job to encourage them to take a portfolio approach in managing their investments,” he adds.

In addition, in an effort to provide clients with competitive pricing, the team adopts an open architecture platform which enables them to screen and source for products from providers globally.

“Being an advocate of asset allocation to deliver outperformance in our clients’ portfolios, a robust and systematic asset allocation process is implemented to provide both strategic and tactical options to allow diversification and short- term active management,” said Mr Lee.

The bank’s Investment Strategy and Product Solutions team is helmed by senior investment professionals with more than 10 years of experience at global private banks, investment banks or asset management firms, he added.

Meanwhile, to ensure that it matches products to an investor’s risk appetite, Maybank adopts a service model where relationship managers are supported by a team of investment consultants.

“Investment objectives, risk profile, unique preferences and restrictions are clearly established with the client at the onset of the relationship. Customised portfolios are then created for each individual client accordingly,” explained Mr Lee.

Maybank Private Wealth also struck Gold for its Human Capital Development at the Benchmark awards. On its approach to developing talent, Mr Lee revealed that it focused on grooming existing employees, rather than recruiting externally alone.

“This proved to be the main reason for our success. With strong employee development program, we are able to achieve a strong sense of loyalty and purpose with Maybank. This translates to satisfied customers who value the fact that their relationship managers are with them for the long haul,” he said.

A strong focus is also placed on continuing education for its private bankers. For instance, Maybank Private Wealth partnered with the Wealth Management Institute in developing its own Wealth Management curriculum aimed at not just improving in its staff’s technical and financial competency, but also to equip them with skills and values that stress on ethical standards, needs-based solutions, and effective client relationships.

Employee engagement is another key human capital priority for Maybank. Various platforms are used to solicit employee feedback which are diligently addressed.

Over the years, Maybank has built an environment that stresses excellence at work and at the same time allows staff to maintain quality family life. Its policies on work- life balance have helped the bank to nurture a more engaged and productive workforce as well as to contribute to retaining talent, said Mr Lee.

“As a caring and inclusive organisation that always champions family- friendly initiatives and work-life integration, we continuously review our people policies and programmes, in line with our continuous efforts to humanise people management.”

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