NVFH 2020 Integrated Annual Report

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Our GroupStructureNVest Financial Holdings LimitedEast LondonRegistration No. 2008/015990/06Listed onJSE (Altx)in May2015NFB Private Wealth Management (Pty) LimitedPercentage Ownership: 100%Reg: 2003/030583/07 | FSP: 16300NFB Finance Brokers Gauteng (Pty) LtdPercentage Ownership: 100%Reg: 1998/024730/07 | FSP: 1621651%BlackOwned– JV withNationsCapitalNations NFB (Pty) LtdPercentageOwnership: 49%Reg: 2015/043665/07Horwath FinancialServices (Pty) LtdPercentageOwnership: 33.33%Reg: 2002/008600/07FSP: 10889NFB Finance Brokers Port Elizabeth (Pty) LtdPercentage Ownership: 100%Reg: 2005/025001/07 | FSP: 26362NFB Finance Brokers Western Cape (Pty) LtdPercentage Ownership: 100%Reg: 2003/030583/07 | FSP: 16300NVest Securities (Pty) LtdPercentage Ownership: 100%Reg: 2008/015192/07 | Member of the JSE LtdFSP: 44699NFB Asset Management (Pty) LtdPercentage Ownership: 100%Reg: 2005/042953/07 | FSP: 25962New (2018)minorityequityinvestmentoffshore.NFB AM InternationalPercentage Ownership: 30%MauritiusNFB Insurance Brokers (Border) (Pty) LtdPercentage Ownership: 80.95%Reg: 1996/010593/07 | FSP: 8932Independent Executor and Trust (Pty) LtdPercentage Ownership: 70%Reg: 2008/018611/07NVest Properties LimitedPercentage Ownership: 100%Reg: 2010/008681/06PRIVATE WEALTHMANAGEMENTPROPERTY INSURANCE WILLS & ESTATES SECURITIESASSETMANAGEMENTThe NFB Private Wealth Management businesses (formerly the Eastern Cape subsidiary, along with the Gauteng and PortElizabeth businesses) were legally amalgamated into one business - NFB Private Wealth Management (Pty) Limited - witheffect from 1 June 2020.30NVest Financial Holdings Limited | INTEGRATED ANNUAL REPORT 2020
Our BusinessSummaryBrand Core Products/Services Entities/LocationNVFHownershipPeoplePrivate Wealth ManagementNFB Private Wealth Management is thefounding business within the NVest Group.Originating in Port Elizabeth in 1985, NFB PrivateWealth Management has grown into one ofthe country’s leading broad-spectrum financialservices groups with offices in Gauteng,Cape Town, Port Elizabeth and East London.NFB provides independent financial advice,products and services for both local and offshoreinvestment. NFB Private Wealth Management isregistered as a discretionary Financial ServicesProvider with the Financial Sector ConductAuthority (Gauteng and Eastern Cape).NFB PWM/Advisory also includes:• Employee Benefits: group pension andprovident schemes as well as group riskplanning;• Healthcare Advisory Services: personal andgroup healthcare (medical aid) planning.NFB Finance BrokersEastern Cape (Pty)Limited[East London]*NFB Finance BrokersGauteng (Pty) Limited[Gauteng]*NFB Finance BrokersPort Elizabeth (Pty)Limited [Port Elizabeth](includes Three OaksCapital)*100%100%100%Total: 39ClientFacing/Sales: 14Back office/support: 25Total: 38ClientFacing/Sales: 10Back office/support: 28Total: 10ClientFacing/Sales: 3Back office/support: 7www.nfb.co.za*As at 1st June 2020 NFB EC, Gauteng & PEconsolidated to form NFB Private WealthManagement (Pty) LimitedNFB Finance BrokersWestern Cape (Pty)Limited [Cape Town][Operating as a branchof NFB]*100%Total: 1ClientFacing/Sales: 0Back office/support: 1AssetManagementEstablished in 2001. Specialises in the provisionof investment solutions to independentfinancial advisory businesses in the form of CISand model portfolios. Authorised as a CategoryII discretionary Financial Services Provider withthe Financial Sector Conduct Authority.www.nfbam.co.zaNFB Asset Management(Pty) Limited[Gauteng]100%Total: 4ClientFacing/Sales: 1Back office/support: 3Short TermInsuranceEstablished in 1997. Full range of personaland commercial insurance products. Severalbinder agreements in place with credibleinsurers, which allows for operational efficiencyand personalised service. www.nfbec.co.zaNFB Insurance Brokers(Border) (Pty) Limited[East London]82%Total: 26ClientFacing/Sales: 5Back office/support: 21StockbrokingSECURITIESEstablished in 2008. NVest Securities offersinvestments in all JSE listed securities – directequity/shares and listed property stocks.Portfolios are tailor-made to suit your needsand required level of involvement. Authorisedto provide money broking services and aregistered Financial Services Provider.www.nvestsecurities.co.zaNVest Securities (Pty)Limited[East London andGauteng]100%Total: 15ClientFacing/Sales: 10Back office/support: 5PropertyPROPERTIESIncorporated in 2010. Specifically establishedfor the purpose of acquiring, holdingand managing a portfolio of commercialproperties, issuing of Commercial Paper,predominantly to clients of the NVest FinancialHoldings Group.NVest Properties Limited[East London] 100%Total: 1ClientFacing/Sales: 0Back office/support: 1EstatePlanning/WillsPurchased by NVest Financial Holdings inMarch 2009, this well-established businessspecialises in the preparation of Wills,managed accounts and the administrationof deceased estates and testamentary trusts.IE&T is a member of the Fiduciary Institute ofSouth Africa.Independent Executorand Trust (Pty) Limited[East London]70%Total: 5ClientFacing/Sales: 2Back office/support: 3NVest Financial Holdings Limited | INTEGRATED ANNUAL REPORT 2020 31
Page 5 and 6: GroupAwards2019 Morningstar Award-
Page 7 and 8: Contents06 Chairman’s Report08 Ch
Page 9 and 10: 01ABOUTNVESTHOLDINGSNVest Financial
Page 11 and 12: As a consequence of all of these th
Page 13 and 14: those of the previous year and, sec
Page 15 and 16: SubsidiaryFeb 2020RevenueFeb 2019Re
Page 17 and 18: worldwide, resulting in an economic
Page 19 and 20: REVENUE - FEB 2020REVENUE (R)Invest
Page 21 and 22: ANTHONY DENIS GODWIN (60)CHIEF EXEC
Page 23 and 24: DR LANA JOY WELDON (46)INDEPENDENT
Page 25 and 26: Siviwe Relebohile Kwatsha (41)Group
Page 27 and 28: Name:Rob MastersLocation:NFB PWM EL
Page 29 and 30: Name:Melany AnnandaleLocation:NFB I
Page 31 and 32: 02GROUPAFFAIRSNVest Financial Holdi
Page 33: 199019941995Beyond our borders. NFB
Page 37 and 38: The evolutionof the NFB Brand1985NA
Page 39 and 40: NFB Private Wealth Management -the
Page 41 and 42: NFB Private Wealth Management- triu
Page 43 and 44: Loaves & Fishes NetworkDeep poverty
Page 45 and 46: NVest Financial Holdings Limited |
Page 47 and 48: Corporate Governance& Sustainabilit
Page 49 and 50: needs of the Board in considering s
Page 51 and 52: A detailed report of the Social and
Page 53 and 54: Legal Compliance: The inherentrisk
Page 55 and 56: PART 5.2: Strategy, performance and
Page 57 and 58: Principle 9Evaluations of the perfo
Page 59 and 60: • the Group’s risk management a
Page 61 and 62: (bb) the Organisation for Economic
Page 63 and 64: • internal audit policy including
Page 65 and 66: Remuneration andNominationsCommitte
Page 67 and 68: an incentive basis (mainly through
Page 69 and 70: Directors Responsibilitiesand Appro
Page 71 and 72: IndependentAuditor’s ReportIndepe
Page 73 and 74: Key audit matterGoodwill assessment
Page 75 and 76: material uncertainty exists, we are
Page 77 and 78: GeneralInformationNVest Financial H
Page 79 and 80: NVest Financial Holdings Limited an
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NVest Financial Holdings Limited an
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GeneralInformationCompany NameDate
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Notice of AnnualGeneral Meeting & P
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Explanatory note for ordinary resol
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person/s authorised by the board),
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In order for this resolution to be
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Special Resolution Number 1 -Genera
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(c)) and in terms of the memorandum
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NVFH 2020 Integrated Annual Report

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